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Amit Dalal of Amit Nalin Securities is of the view that one can invest in IT stocks, as they are available at very reasonable valuations.

Dalal told CNBC-TV18, "Rupee going in the favour of the IT companies and the fact that the valuations have come down to perhaps the lowest in terms of discounting ratio that I have seen in the last five-seven years. There is a case to be made out for lower volume growth but volume growth is going to come and especially for the very large companies, they are going to have maybe some cancellation of contracts but they are going to have other businesses too. So at these current levels it makes sense to invest in IT companies, they are available at very reasonable valuations."

Source: Moneycontrol.com