Small IT flaunts strong numbers, spark for even better show
Coforge and Persistent Systems soared 11.5% and 10.3%, respectively, on Thursday. KPIT Technologies and Mphasis gained over 3% each, while LTI Mindtree and L&T Technologies rose 2.4% and 1.06%, respectively. Cyient moved up 2%.
«The impressive results from Persistent Systems and Coforge sparked a rally in midcap IT stocks today,» said Krishna Appala, senior research analyst at investment firm Capitalmind. «The commentary from midcap IT companies remains strong.»
In 2024, the Nifty IT index surged 22.8% while the benchmark Nifty gained 9.1% in the same period.
The outperformance of these stocks has made some analysts cautious about their prospects as investors await the finer details of Trump's economic policies.
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