Page 10 - It Stocks
IT stocks rally as Morgan Stanley upgrades rating; sector set for revival
Large-cap information technology (IT) stocks rallied on Tuesday on the back of a rating upgrade by influential brokerage Morgan Stanley. Shares of Tata Consultancy Services (TCS), Infosys and Wipro gained around four per cent each after the brokerage revised upwards their price targets between five per cent and 26 per cent."Indian IT services stocks could be set for a turnaround in 2018," said Morgan Stanley analysts Parag Gupta and Gaurav Rateria in a note dated January 15. "Valuations are at or below long-term averages and an improving global macro could spur tech spending, which could re-rate stocks," the duo said adding that they prefer large caps.Shares of midcap IT stocks underperformed with Mphasis, Cyient and Mindtree ending with losses. The benchmark Sensex ended 72.5 points, or 0.2 per cent lower, even though TCS, Infosys and Wipro made a 158-point contribution. The BSE IT index gained 3.3 per cent and was by-far the best-performing sectoral index.The technology pack has ...
 "IT stocks rally as Morgan Stanley upgrades rating; sector set for revival")
IT, ITeS stocks trade mixed on reports of Rs 10,000 cr service tax demand
The service tax department has sent notices to about 200 IT and ITeS companies so far, the report claimed
 "IT, ITeS stocks trade mixed on reports of Rs 10,000 cr service tax demand")
IT sector seeing disruption, stocks underperforming: Should you go contra?
Analysts see growth remaining muted for the next two years, advise stock-specific approach
 "IT sector seeing disruption, stocks underperforming: Should you go contra?")
Should you buy IT stocks amid changing business environment?
The BSE IT index has shed over 3% year-to-date, compared with a sharp 12% gain seen on Sensex
 "Should you buy IT stocks amid changing business environment?")
IT stocks catch cold as Trump warms up to outsourcing curbs
Valuation gap between top IT stocks and Sensex widest since 2009 on low export growth fears
 "IT stocks catch cold as Trump warms up to outsourcing curbs")
IT stocks drop 4% on H1-B visa fears, Rs 33k cr m-cap knocked off
According to experts, Trump plans to overhaul work-visa programmes that dampened investor mood
 "IT stocks drop 4% on H1-B visa fears, Rs 33k cr m-cap knocked off")
India readies to do business with Trump
Congruence on terrorism, current disquiet on immigration, short-term visa would top the wish list
 "India readies to do business with Trump")
Experts say IT stocks not as cheap as they appear
According to them, current valuations don't capture structural demand issues and potential impact of global events
 "Experts say IT stocks not as cheap as they appear")
Why weaker rupee hasn't lifted IT stocks
Companies pass on gains arising from currency depreciation amid subdued demand environment
 "Why weaker rupee hasn't lifted IT stocks")
Funds prune allocation to IT stocks
Underweight on the sector since January amid concerns over growth prospects; no early reversal seen
 "Funds prune allocation to IT stocks")
