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HCLTech shares fall 11% to a 52-week low, marking their worst single-day return in 11 years
According to Nuvama, HCLTech's weak guidance for FY27 now converges its growth differential with TCS and Infosys, which is likely to lead to convergence of their valuations. The brokerage has cut growth estimates and revised its USD-INR assumption to 93 from 88 earlier.
TCS sees $100-billion market value erosion since 2021. What lies ahead?
Nearly $100 billion has been wiped off TCS’ market value from its 2021 peak amid fears of AI-led disruption that have dragged down the broader IT pack. However, brokerage Nuvama believes the selloff is overdone, saying Gen AI poses no existential threat to the sector and could eventually expand the industry’s opportunity, prompting it to upgrade all top 10 IT stocks to ‘Buy’.
Reports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stocks
Nuvama says fears that Gen-AI will cripple India’s IT services model are overblown, invoking Mark Twain’s line that “reports of my death are greatly exaggerated.” After a sharp AI-driven selloff that pushed valuations to multi-year lows, the brokerage has upgraded all top 10 IT stocks to “BUY,” arguing the sector is poised for a comeback as AI services demand accelerates.
The 'Death' Of Indian IT Is Highly Exaggerated—And Nuvama Says It's Time To Buy 'Everything'
Nuvama dismisses AI doom, issuing buy calls on top Indian IT stocks like Coforge and Infosys, citing massive upside after a sharp sector-wide price correction.
Taking Stock: Nifty above 24,050, Sensex rises 347 pts as rally enters fourth straight day
More than 120 stocks touched their 52-week high on the BSE, including Data Patterns, Yes Bank, KEI Industries, Kirloskar Oil, Nuvama Wealth, Polycab, CG Power, Aegis Logistics, Himadri Speciality, IFCI, Varun Beverages, JK Bank, Pidilite Industries, Federal Bank, Netweb, Bandhan Bank, among others.
Nuvama is bullish on all top-ten IT services stocks, sees up to 84% upside: Here's why
Nuvama said that the sharp correction in IT stocks over the past two months has made valuations attractive.
Aequs extends rise to hit all-time high, up 11% in 2 days as Nuvama sees up to 91% upside
Aequs emerged as the top gainer in the Nifty India Defence index for the second consecutive session.