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CLSA Backs Indian IT Sector: Two Stocks Could Soar Up to 78%
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CLSA Bullish on Indian IT: Persistent Systems, Coforge Poised for 78% Upside
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CNBC Awaaz
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18-03-2026, 14:21
CLSA Bullish on Indian IT: Persistent Systems, Coforge Poised for 78% Upside
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Global brokerage CLSA gives a positive outlook on the Indian IT sector, citing attractive valuations after a 20% Nifty IT index fall.
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Persistent Systems and Coforge are CLSA's top picks, with a potential upside of up to 78% and 'High Conviction Outperform' ratings.
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CLSA maintains 'Outperform' on Infosys, Tech Mahindra, TCS, LTIMindtree; 'Hold' on HCL Technologies and Wipro.
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No clear indication of additional pricing pressure from AI tools in new contracts, based on discussions with major IT firms.
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Strong growth continues in BFSI; some delays in client decision-making due to AI evaluations and Middle East crisis.
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