Edelweiss Securities continue to remain positive on IT stocks, Aditya Narain, managing director-head of research, told CNBC-TV18.

He further said that growth will be the driver for IT stocks in FY23 and TCS numbers are a positive start for the Indian earnings season.

Talking about autos, Narain said, “The drops in demand have played out at some level. The expected recovery just might be a little slower than what most people have anticipated.”

Also Read: Positive on Indian auto component space; bullish on Tata Motors, M&M: Nomura

“At a portfolio level we are overweight on the two-wheelers even though from a pure demand perspective, from a topline perspective, ex of the cost effect we would be little cautious,” he said.

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