TCS, Infosys Wipro: Nirmal Bang said valuations for most IT stocks are expensive in relation to their 5-year or 10-year histories and it sees no material upside to FY25/FY26 earnings for its coverage in the next 12 months.
Tata Consultancy Services (TCS) shares have rallied 10.20 per cent during this period. The second largest player Infosys has risen 4 per cent; HCL Technologies and Wipro, the next in line, have gained 8-11 per cent.
Birlasoft: Antique said the deal pipeline remains strong but future signings are uncertain due to the timing of client decisions. The IT firm is looking to execute and maximise signings in the upcoming quarter, it said.
Both Infosys and LTIMindtree Q3 results came in below Moneycontrol s poll estimates. While Infosys was the most upgraded IT stock in January, LTIMindtree was the most downgraded
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore.