IT stocks where Emkay keeps 'buy' tag with an upside of 12-33%
Tata Consultancy Services, Infosys, Tech Mahindra, Persistent Systems, Firstsource Solutions are among the top buying ideas of broking house with an upside up to 33 percent.
The overall Q2 performance of IT companies was largely in line with estimates, with a -0.5-0.1 percent variation in revenue or net profit. Revenue growth momentum improved for Tier-I and Tier-II companies in Q2FY22 on the back of a broad-based secular demand environment, driven by continued strong demand for digital, cloud, data analytics, 5G, IoT, cybersecurity and AI. Broking house Emkay expect IT companies to sustain the growth momentum on the back of strong broad-based demand, robust deal intake/pipeline, and gradual opening up of major economies.
