IT Stocks to buy ahead of Q3 results: Infosys, Wipro, HCL Tech, Tech Mahindra and more - check price targets

IT Stocks To Buy: Brokerage firm Emkay Global Financial Services is bullish on IT stocks. The firm in a report said that the Nifty IT index has gained 6 per cent in the last 3 months, largely in line with the broader market indices. Risks of recession and potential cut in FY24 revenue remain, however, margin resilience and weak rupee would limit earnings cut of the companies.

Emkay’s report said that Accenture’s results and management commentary has indicated demand moderation in the near term due to deterioration in macros, but medium term growth drivers are intact, which should alleviate any structural growth concerns. . 

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The brokerage firm has given a ‘Buy’ call on Wipro, Infosys, Tech Mahindra and HCL Tech and other stocks. 

The Nifty IT index has tanked over 26 per cent in 2022 due to downtrend of the US and European markets, rising interest rates, recession, high attrition rate and higher wages.

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