Wipro and Tech Jefferies downgrades six IT stocks due to recession concerns.

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.

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