Dec 16 2023, 10:40
Nifty stocks: Time to look at them without bearish bias
As the overall cost of capital for US companies and also the consumer will come down. For US companies, it means more discretionary spending, a part of which comes to Indian tech companies.
It appears that there is a readjustment of the valuations from over optimistic to more normal one. The process of readjustment of the valuations is always more time consuming as it happens with earnings catching up which normalize the price earning multiples. While it might be contrarian buy, there is high probability that IT stocks perform better than most in bearish market conditions.
For all the NIFTY IT index stocks, the following list of stocks in the NIFTY IT index were given a "Buy/Hold/Sell" recommendation in the latest Stock Reports Plus report dated Dec 15th, 2023. Analysts' recommendations are provided using Institutional Brokers' Estimate System (IBES) to provide you actionable insights. You can also check the breakdown of the count of analysts' giving buy/sell/hold recommendations to each stock in the index.
Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Simple average of the above- mentioned five component ratings is normally distributed to reach an average score. Each stock is ranked on a scale of 1 to 10. A score of 8 to 10 is considered positive, 4 to 7 is neutral and 1 to 3 is given a negative outlook. In addition to scores, the report also contains trend analysis, peer analysis and mean analysts' recommendations.
List of NIFTY IT stocks with 'Buy/Hold/Sell' recommendations
NIFTY IT Stocks - Upside Potential
Dec 15, 2023
Search in table
Upside Potential
Inst Stake
Market Cap Rs Cr
Company Name
Avg Score
Analyst Count
Reco
TCS
8
Hold
40
-0.5%
15.8
1,341,628
Infosys
8
Hold
42
-0.8%
47.2
623,084
LTIMindtree
9
Hold
37
-8.5%
14.5
175,981
Wipro
5
Hold
28
-9.1%
139
226,911
HICL Tech
Hold
40
-10.2%
25.5
383,590
Tech Mahindra
7
Hold
BE
-11.4%
39.5
123,368
Mphasis
6
Hoid
29
-12.7%
34.0
49,060
Coforge
7
Hold
27
-13.6%
76.1
37,964
Persistent Systems
6
Hold
32
-19.2%
43.1
52,819
LIST Tech
8
Sell
24
-23.5%
12.3
53,933
source: et
Dec 16 2023, 10:48