Nuvama bullish on tier-2 IT stocks, LTIMindtree among brokerage's top picks; here's why
On LTIMindtree (their top choice in the sector), Coforge, and Persistent, Nuvama has maintained a ‘BUY’ rating. The brokerage has started covering Mphasis at a ‘REDUCE’ due to its comparatively high valuation.
Within the last five years, a select group of high-caliber tier-2 information technology (IT) companies have outperformed their larger counterparts in terms of both growth and margins, said domestic brokerage Nuvama Institutional Equities, in its report on IT services sector update. These tier-2 IT companies that have been handpicked for their exceptional quality are called CLAMP (Coforge, LTIMindtree, Mphasis, and Persistent).
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