“Manish Sonthalia is bullish on Indian IT stocks for the long term, viewing the recent panic selling as an overdone dip-buying opportunity. He dismisses fears of AI decimating the sector, arguing that AI will expand the scope for IT services, which are currently trading at attractive pre-COVID valuations despite improved payout ratios. Within IT, he recommends product companies with sticky offerings and agile mid/small-cap IT services firms, which are better positioned to pivot to AI-enhanced models than large-caps.”