JP Morgan analysts had downgraded the Indian IT sector earlier in May, citing growth concerns. Rising margin headwinds in the near term, according to JP Morgan, were one of the key concerns at the time.
The possibility of a US recession has prompted analysts to be cautious about the information technology (IT) sector, with Jefferies downgrading six large- and mid-cap companies. Tech Mahindra (Tech M), HCL Technologies (HCL Tech), Wipro, Coforge, Larsen & Toubro Infotech, and Mindtree are among the companies on the list.
Follow us on: Facebook | Instagram | Twitter | Telegram | LinkedIn | Tumblr | Pinterest | Reddit | Medium
SRK’s Blockbuster Pathaan Will Be Released On Amazon Prime Video Tomorrow!
Biden Nominates Indian-Origin Woman Nisha Desai Biswal As Deputy CEO Of US Finance Agency
Star Of Harry Potter And Star Wars, Paul Grant Dies At 56