Subex, Happiest Minds, et al. are on a roll. Is the rally in mid-cap IT stocks here to stay?

At the end of 1999, three gentlemen, who were working out of a bungalow-turned-office in South Mumbai’s Colaba, took a big call on Indian IT stocks. They were working for Twentieth Century Asset Management, a small asset management company (AMC) that had hired them from SBI Mutual Fund. These gentlemen simply decided to sell all their IT holdings in their funds in November 1999 when the world was extremely bullish on software, technology, and

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