While IT stocks have been underperforming the broader market for more than a year, But at this point of time as second quarter results start to pour in, they witnessed another round of sharp correction. This was in the backdrop of some of the US IT services companies indicating that the operating environment is tough at this point of time. But sometimes, even the management are caught on the wrong foot, like in early 2021 when they went on a hiring spree only to reverse in less than two years. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.
Accenture s 4% YoYcc growth in 4QFY23, at the mid-point of its 2-6% guidance, was the sixth straight quarter of revenue deceleration for the company. Going by the company s commentary, FY25 growth expectations could be at risk as well.
IT Stocks To Buy: HDFC Securities has recommended TCS, Infosys, Wipro, HCL Tech, Tech Mahindra, LTIMindtree, Persistent Systems and Mphasis shares to investors.
IT Stocks Falling: The Indian IT (Information Technology) stocks are reeling under extreme pressure due to volatility amid weak global cues. The Nifty IT index traded positive on Friday in an upbeat market a day after slipping 5.74 per cent on account of slump in the tech-heavy stock index Nasdaq an