TCS, Infosys & 6 Other IT Stocks Sharekhan Recommends Buy, Sees Robust Returns

Sharekhan lists 8 stocks from the IT Sector with a "Buy" for a healthy return. These 8 stocks are Birlasoft, Coforge, HCL Technologies, Infosys, LTIMindtree, Persistent Systems, TCS, and Tech Mahindra. Birlasoft, Coforge, and Persistent Systems are midcap stocks, whereas, HCL Technologies, Infosys, LTIMindtree, TCS, and Tech Mahindra are large-cap stocks.

According to the brokerage, "The stock price of Indian IT companies has corrected significantly on y-o-y basis, with CNX IT Index (down ~10%) underperforming benchmark indices (Nifty up ~3%) by around 13%, owing to the macrooverhang. While recession and slowdown fears lurk in the backdrop, recent economic data from the U.S. seems to assert that there may be fewer signs of recession We currently have neutral stance on IT sector and will take a more constructive investment view on the sector post the march quarter earnings. Although, tactical long trade in near term is still seemed possible, owing to reasonable risk reward. However, global macro print would continue to create volatility in stock performance."

Birlasoft

Sharekhan has a "buy" on the stock with a target price of Rs 320/share. Its current market price (CMP) is Rs 276.65 /share. The shares can surge up 16% considering the target price and CMP. It has fallen 31.05% in 1 year. However, it gained 177.56% in 3 years and 30.45% in 5 years, respectively.

Coforge

Sharekhan recommends "Buy" stock of Coforge with a target price of Rs 4,900/share, implying a potential upside of 16% from its current level. The stock's Current Market Price is Rs 4,248.90/share. It has fallen 4.18% in 1 year. Whereas, it gained 128.74% in 3 years and 417.97% in 5 years, respectively. 

 

Persistent Systems

The brokerage has a "Buy" on the stock with a target price of Rs 5,010/share, implying a potential upside of 6% from its current level. Its current market price is Rs 4,760/share. The stock gained 23.96% in 1 year, massive 573.38% in 3 years and massive 466.73% in 5 years, respectively.

 

HCL Technologies

The brokerage has assigned a "Buy" on HCL Technologies with a target price of Rs 1,205/share. It can give a return of 12% considering the target price and current market price. The stock is currently trading at Rs 1,079.45/share. The stock has fallen 4.45% in 1 year. However, it gained 88.37% in 3 years and 127.28% in 5 years, respectively.

 

Infosys

Sharekhan has a "Buy" on Infosys with a target price of Rs 1730/share, implying an upside of 15% from its current level. Its current market price on NSE is Rs 1,508/share. The stock has fallen 11.09% in 1 year. It gave 93.7% positive return in 3 years and 161.99% positive return in 5 years, respectively.

 

LTIMindtree

The brokerage placed a "Buy" on LTIMindtree with a target price of Rs 4,965/share, implying 6% upside from its current level. Its current market price is Rs 4,712 apiece. It has fallen 16.76% in the past 1 year. It gave a robust 139.53% return in 3 years and 234.8% in 5 years, respectively.

 

TCS (Tata Consultancy Services)

Sharekhan assigned "Buy" on TCS with a target price of Rs 3,650/share. With the given target price, it claims a healthy return of 10%. The stock is currently trading at Rs 3320.75/share. It has fallen 5.73% in 1 year. It gained 57.63% in 3 years and 118.18% in 5 years, respectively.

 

Tech Mahindra

Sharekhan has a "Buy" on the stock with a target price of Rs 1,220/share. It sees 11% potential upside from its current market price. Its current market price is Rs 1,100/share. The stock declined 20.85% in 1 year. It gained 35.95% in 3 years and 80.17% in 5 years, respectively.

 

Disclaimer

The stocks have been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.