Sanjiv Puri Addresses Overreactions in Tech Stock Market
Sanjiv Puri, ITC chairman, describes the correction in tech stock prices as an overreaction. Despite market volatility, ITC continues to integrate technology for efficiency. Puri cites ITC's diverse sectors and includes plans for moderate investment and opportunistic acquisitions to maintain growth.
- Country:
- India
Sanjiv Puri, the chairman and managing director of ITC, characterized the recent fluctuations in IT stocks as an exaggeration by investors. Speaking at the NTLF event by Nasscom, Puri highlighted the pivotal role technology plays in modern business operations.
Puri emphasized that ITC, which started in the tobacco sector and later branched into hospitality, FMCG, and IT services, leverages AI to boost productivity. He believes that recent market reactions ignore the essential applications of technology that enhance factory and supply chain efficiency.
Despite past disruptions in the tech industry, Puri remains confident in ITC's future tech integration efforts. He mentioned a Rs 20,000 crore investment plan for medium-term growth and potential acquisitions, reflecting strategic opportunities in ITC's diverse portfolio.
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