News > TCS, 3 Indian largecap IT stocks downgraded by JPMorgan

TCS, 3 Indian largecap IT stocks downgraded by JPMorgan

Times Now | 19/05/2022 11:49 AM | Click to read full article

Indian IT stocks have underperformed the benchmark Nifty by 15% in year-to-date (YTD) terms as the earnings outlook has worsened over the current earnings season. Global brokerage JPMorgan sees peak revenue growth behind and EBIT margins trending down from inflation, mean reversion. 

This leads JPMorgan to downgrade its IT sector stance to Underweight.