October 7, 2022

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Wipro, Tech Mahindra: Jefferies downgrades six IT stocks on recession fears

Earlier in May, analysts at JP Morgan had downgraded the Indian IT sector citing growth concerns. Rising margin headwind in the near-term, JP Morgan had said then, was one of the key concerns.

Topics

IT sector | India’s IT sector | Jefferies



Puneet Wadhwa  | 
New Delhi 




The possibility of a recession in the US has made analysts cautious on the information technology (IT) pack, with those at Jefferies downgrading six large-and mid-cap companies. The list includes Tech Mahindra (Tech M), HCL Technologies (HCL Tech), Wipro, Coforge, Larsen & Toubro Infotech and Mindtree.



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First Published: Mon, July 11 2022. 08:00 IST