Infosys, Tech Mahindra, Wipro, HCL Tech, Tech Mahindra; Brokerages Review IT Sector

Nomura, predicted that the growth in the IT sector is bottoming out in FY25F and will improve in FY26F, thus Q1FY25F will be a mixed bag.

Equity benchmark indices Sensex and Nifty hit their lifetime peaks in early trade on Thursday, amid firm global market trends, buying in blue-chip stocks and robust FIIs inflows.

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The 30-share BSE Sensex jumped 388.84 points to hit a record peak of 80,375.64 in early trade. Also, the Nifty climbed 114.45 points to hit a lifetime high of 24,400.95.

Among the Sensex pack, Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies and Tata Consultancy Services were the biggest gainers.

HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards.

J P Morgan On IT Sector

Global brokerage JPMorgan has revised its stance over information technology (IT) stocks. The list includes names such as Wipro, Infosys, HCLTech, and others. Here is a revised list of IT stocks by JPMorgan.

Nomura, Goldman Sachs on IT Sector:

Earlier Nomura and Goldman Sachs had revised their stance on IT stocks. Nomura, predicted that the growth in the IT sector is bottoming out in FY25F and will improve in FY26F, thus Q1FY25F will be a mixed bag. The brokerage expects revenue growth for large caps to increase from three per cent in FY25F to 7.7 p

Share Price target & Buy call for important stocks today, according to Brokerages

Wipro Share Price Target

JPMorgan iterated ‘neutral’ on Wipro and raised the target to Rs 490 from Rs 480.

Infosys Share Price Target

JPMorgan maintained ‘ overweight’ rating on Infosys and raised the target to Rs 1,750 from Rs 1,700.

HCLTech Share Price Target

JPMorgan has given a ‘neutral’ rating on HCL Technologies and raised the target to Rs 1,510 from Rs 1,470.

Tech Mahindra Share Price Target

JPMorgan maintained an ‘underweight’ rating on Tech Mahindra and raised the target to Rs 1,200 from Rs 1,100.

Coforge Share Price Target

JPMorgan maintained an ‘overweight’ on Coforge and cut the target to Rs 6,500 from Rs 7,000.

(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)