Devarsh Vakil of HDFC Securities maintains an underweight stance on the IT sector due to disappointing quarterly results and an uncertain earnings trajectory. He suggests that the sector's near-term recovery remains elusive as quarterly results are still waiting to stabilize.

Devarsh Vakil’s track record (trackable calls only): 3 graded calls · 95% CI 6–79%

Nifty IT IndexBearishCalled 28 Apr 2026Graded 19 Sep 2026
Verdict:MISS

R5 DIRECTIONAL (BEARISH): entered ₹29245.2 on 2026-04-29; 1M -0.56% (in-direction), 3M +4.01% (AGAINST-direction) -> MISS.

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