CLSA issues updated ratings for a group of Indian IT companies, downgrading shares in its coverage. According to the reports, CLSA moves TCS and Infosys to “Hold,” while Tech Mahindra is also cut to “Hold.” The broker further downgrades Wipro and Mphasis to “Underperform.”
Across the same coverage, CLSA highlights a separate set of firms as its preferred selections. Persistent and Coforge are identified as “top picks,” indicating the broker’s relative optimism versus the companies that received weaker ratings. While the outlets focus on the changes to individual stock recommendations and the resulting target outlook, they largely align on the direction of the ratings across the listed names.
The reports describe the moves as part of a broader recalibration of expectations for midcap and large-cap IT stocks. Any differences between outlets are limited to how they frame the “top picks” versus the companies downgraded, rather than disagreement on the underlying rating actions.
