Jefferies Sees Valuation Upside in Select Indian IT Stocks
Jefferies has identified potential valuation gains in select Indian IT stocks despite muted growth forecasts. The sector saw a sharp rally in October, but growth expectations remain subdued. Analysts highlight that absence of negative surprises could boost valuations. Infosys and TCS are noted for possible rerating with increased target prices. Worst-case scenario predicts stagnant growth beyond fiscal year 2029 for IT firms.
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