“Mohit Gulati believes the 28% year-to-date correction in the Nifty IT index is not merely cyclical but reflects a structural transition driven by AI, which is disrupting the traditional headcount-driven outsourcing model. While current sub-20x valuations may appear attractive, this structural shift, evidenced by significantly reduced hiring, suggests a fundamental re-evaluation of the sector's growth trajectory, making a simple 'buy the dip' strategy potentially misleading.”