Now Reading: CLSA upgrades midcap IT stocks Persistent, Coforge, downgrades TCS Infosys
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CLSA upgrades midcap IT stocks Persistent, Coforge, downgrades TCS Infosys
CLSA upgrades midcap IT stocks Persistent, Coforge, downgrades TCS Infosys
Brokerage CLSA has retained a High Conviction Outperform rating on Persistent Systems and Coforge, naming them as its top picks in the Indian IT sector. Persistent shares rose as much as 2.47% and Coforge gained 2.18% following the call.
At the same time, CLSA downgraded larger peers TCS, Infosys and Tech Mahindra to Hold, and cut ratings on Wipro and Mphasis to Underperform. The brokerage's shift favours midcap IT companies over largecaps based on their growth outlook.
Indian Opinion Analysis
Both reports from ndtvprofit.com cover CLSA's ratings change without injecting any editorial slant. The coverage is uniform straight reporting: one note focuses on the midcap gains, the other on the largecap downgrades. Together they show a clear broker rotation from large to midcap IT. Readers should note that CLSA's move reflects a near-term growth preference, not a fundamental flaw at the larger firms. Watch for actual earnings delivery from Persistent and Coforge to sustain this outperformance.
Coverage: 2 sources, 2 neutral
Sources (2): ndtvprofit.com (neutral report), ndtvprofit.com (2) (neutral report)
This story was synthesised by AI from the 2 sources linked above. Methodology and corrections.
