Market expert Deven Choksey, Managing Director of DRChoksey Finserv Private Limited, believes the recent correction in information technology (IT) stocks has created an opportunity for investors to revisit the sector. According to reports from CNBC TV18, Choksey noted that the downside for IT stocks is likely complete, stating it's time to buy them into the portfolio once again. He highlighted that HCL Technologies is successfully integrating the Anthropic cloud platform into its software development and cybersecurity offerings, allowing the company to deliver faster and more authentic solutions to clients. Choksey emphasized that "this is a good move that we are experiencing, and many other IT companies are similarly experiencing the similar kind of integration with one or other LLMs." He added that the sector is ripe for investment after being written off earlier, with the downside in these stocks having been probably completed.
Helios Capital founder Samir Arora has called Jio Platforms a 'high-conviction stock', highlighting its massive digital reach and strong growth potential ahead of its upcoming IPO. As reported by CNBC TV18, Arora noted that "Jio has enabled large-scale digital connectivity as well as built the network on which new-age companies in India are built. It has laid the foundational platform for them. The company's scale is huge and it has a high potential for consistent growth." The telecom subsidiary reported revenue from operations of ₹1.46 lakh crore in FY26, up 14.6% from the previous year, with EBITDA increasing 18.8% to ₹76,255 crore and net profit up 15% at ₹30,049 crore. At the upper end of the IPO price band of ₹1,119, the company is valued at ₹10.3 lakh crore, representing approximately 34.3 times its FY26 earnings. The IPO proceeds are expected to be utilized primarily to repay ₹27,500 crore of borrowings at Reliance Jio Infocomm and move the business towards a net-debt-free position.
As of June 30, 2026, Jio had 533 million customers, including 284.9 million 5G users, according to its red herring prospectus. The network carried around 60% of the wireless data traffic in India last fiscal, while its wireless broadband network covered over 99% of India's population. The company's growth opportunity lies in monetizing this extensive reach, with 261 million users in India still using 2G networks as of June 2026, representing a significant migration opportunity. Jio entered the telecom market in 2016 with aggressive pricing and free voice and data offerings, leading to market disruption and accelerated shift to mobile broadband. The company has evolved into a comprehensive digital platform spanning mobile services, entertainment, broadband, cloud and enterprise solutions, with its EBITDA margin at 51.9% in FY26.
In the consumer discretionary space, Jubilant FoodWorks offers limited downside risk following its recent price correction, according to Choksey's analysis reported by CNBC TV18. The company operates in the quick-service restaurant (QSR) segment, where a recovery in domestic consumption and demand during the festive season could support business performance. The stock was trading at ₹421.10 at 9:32 am on NSE and has declined more than 27% over the past year. Choksey expects seasonal demand to provide a near-term boost to growth and believes the stock's recent price correction has made valuations more attractive. He expects "15-20% appreciation from current level is not ruled out. In a good market, it can go even higher from current levels." However, he cautioned that the company may not command the exceptionally high valuation multiples it enjoyed in the past.
