Arun Kejriwal sees pain ahead for IT; cautions on solar IPO frenzy, backs Seshaasai Tech

Market veteran Arun Kejriwal believes several developments are set to unfold in the information technology (IT) space. "You just cannot write off the IT sector. However, this may not be the best time to invest as there are still pain points ahead. Take advantage of that. The turnaround cannot be so dramatic that you still can’t enter the sector. So take the time, wait and then enter," he told Business Today on Tuesday.

IT stocks witnessed heavy selling pressure today after the White House announced a revised H-1B visa fee of $100,000. The Trump administration clarified that the levy would be a one-time payment, applicable only to new petitions filed after September 21, 2025, and would not impact existing visa holders.

On ongoing initial public offerings (IPOs), Kejriwal cautioned against using Urban Company Ltd as a benchmark. "If Urban Company is made a benchmark, you will get disappointed. Don't take it as the yardstick of what to expect from the primary market. The other key takeaway from this bunch is that solar is being flogged to extreme levels. While the requirement is there, the kind of capex flowing into solar is becoming a concern," he stated.

Shares of recently listed Urban Company have gained 73.30 per cent from its issue price of Rs 103.

Highlighting a standout company, Kejriwal pointed to Seshaasai Technologies Ltd. "It needs a relook. It's not a conventional printer. The company has evolved from providing checkbooks and forms to offering debit and credit cards, identification cards and even metal credit cards, which are in demand. Importantly, it also produces RFID tags used in fast tags at toll plazas and for tagging garments with product details," he said.

According to him, the real value lies in RFID applications. "Technology is now being used to leverage RFID tags, enabling store inventories to be checked in seconds. This is absolutely a company one should look at," the market expert added.

Meanwhile, the Seshaasai Technologies IPO opened for subscription today and will close on Thursday, September 25.