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CLSA turns cautious on Indian IT, downgrades TCS, Infosys, Tech Mahindra; prefers mid-tier stocks amid AI...
CLSA downgraded TCS, Infosys and Tech Mahindra to Hold and Wipro and Mphasis to Underperform, warning that AI-led deflation and macro headwinds could weigh on business. It said mid-tier firms as better placed to navigate the technology transition, retaining bullish calls on Coforge, Persistent Systems, LTIMindtree and Hexaware.
CLSA downgraded TCS, Infosys and Tech Mahindra to Hold and Wipro and Mphasis to Underperform, warning that AI-led deflation and macro headwinds could weigh on business. It said mid-tier firms as better placed to navigate the technology transition, retaining bullish calls on Coforge, Persistent Systems, LTIMindtree and Hexaware.
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