David Cornell, chief investment officer of Ocean Dial Asset Management, explains why India's technology sector still offers upside following a 20-year bull run.
The Indian IT services sector has evolved at a remarkable pace over the last 15 years. Investors who were savvy enough to buy and hold the cream of the crop before growth in the sector took off will have much to crow about. Had you bought Infosys (the kingpin of the sector) in 1993 at the time of its IPO, your investment would have compounded at 46% in dollar terms annually since; impressive returns by any standards. Identifying some of the reasons behind these eye watering returns informs our evaluation of today’s opportunities in the sector and, importantly, what we can expect in th...
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