Wipro, Tech Mahindra: Jefferies downgrades six IT stocks on recession fears
Earlier in May, analysts at JP Morgan had downgraded the Indian IT sector citing growth concerns. Rising margin headwind in the near-term, JP Morgan had said then, was one of the key concerns.
IT sector | India’s IT sector | Jefferies
Puneet Wadhwa |
Last Updated at July 11, 2022 08:00 IST
The possibility of a recession in the US has made analysts cautious on the information technology (IT) pack, with those at Jefferies downgrading six large-and mid-cap companies. The list includes Tech Mahindra (Tech M), HCL Technologies (HCL Tech), Wipro, Coforge, Larsen & Toubro Infotech and Mindtree.
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First Published: Mon, July 11 2022. 08:00 IST
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