Economic TimesLean R·
Jefferies sees valuation upside in select IT stocks despite muted growth forecast
Mumbai: Jefferies sees scope for further valuation gains in select Indian IT stocks despite the sector's sharp October rally, as share prices still reflect weak long-term growth expectations. The brokerage said Infosys and TCS are the only large IT companies with potential for further valuation rerating, while Sagility stands out among mid-sized firms.Jefferies, however, remains cautious about the sector's growth outlook and believes the risk-reward becomes unfavourable beyond 17-18 times earni…
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