Nifty IT hits new high for third day: Should you buy, sell or hold IT stocks?
The future prospects for the Nifty IT index look bright due to a robust track record and several favorable economic indicators.
Even as the markets traded mildly in the red, the IT stocks continued to hit a record for the third-straight day led by gains in Tech Mahindra, Persistent Systems and HCL Technologies among others. The index has a great impact of factors including monetary policy changes, which impact interest rates, borrowing costs, market liquidity, and the general economic situation. These elements work together to influence investor sentiment and corporate performance in the IT sector.
Bernstein on Infosys
The brokerage remains outperform on the counter with a target of Rs 2,270 per share. This means an upside of over 18 per cent.
Bernstein on TCS
On TCS, the global brokerage maintains outperform with a target of Rs 4,680- an upside of 7.5 per cent.
Bernstein on HCL
Bernstein on Noida-based HCL Technologies maintained market perform with a target of Rs 1,940-an upside of 2 per cent .
Bernstein on Wipro
The brokerage maintains underperform rating on the stock with a target of Rs 460-a potential downside of 22 per cent.
Bernstein on LTIMindtree
The brokerage maintained market perform on the stock with a target of Rs 5840- a potential downside of over 6 per cent.
Morgan Stanley on LTIMindtree
The brokerage maintains overweight and an in-line rating on the stock with a target of Rs 7,050, an upside of over 13 per cent.