Hot Stocks: Brokerages view on TCS, Infosys, Indigo, and HDFC Bank
TCS and upgraded Infosys to neutral from reduce.
Goldman Sachs maintained a buy rating on Indigo while Macquarie maintained an outperform rating on HDFC Bank and CLSA initiated a buy on Amber Enterprises.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JPMorgan on TCS: Underweight| Target Rs 2650
JPMorgan maintained an underweight rating on TCS with a target price of Rs 2650. The IT company announced a large deal win from JLR worth $1bn TCV over five years.
Net new deal that will add $200mn annually to revenues and could potentially add 0.35% each to FY24 and FY25 growth.
JLR deal along with the BSNL and Nest deals could together potentially add 3.5% to Q3 growth and 1.8% each to FY24 and FY25 growth.
Nomura on IT sector: TCS maintain reduce| Infosys upgraded to neutral
Nomura remained cautious on the IT sector given limited visibility on a significant turnaround in discretionary demand for IT services.
The revenue growth is likely to pick up in FY25F, aided by large deals.
