At the India Investor Festival 2026 in Mumbai, veteran fund managers Rajeev Thakkar (PPFAS Mutual Fund) and Sankaran Naren (ICICI Prudential Mutual Fund) said they see selective opportunities in beaten-down Indian IT stocks, according to Economic Times. Sankaran Naren described the current setup as a “contrarian valuation call” and warned that it is unclear whether weakness reflects structural AI disruption or a cyclical slowdown, Economic Times reported. Naren added, “If AI is truly disruptive, several sectors will get disrupted. But the market is selectively punishing IT.” Rajeev Thakkar noted that Indian IT companies have navigated past technology shocks including Y2K, the dotcom crash and the SaaS wave, Economic Times reported.
