By Admin 
Jefferies Downgrades Indian IT Stocks: There have been ups and downs in the Indian stock market for the last few days. Meanwhile, brokerage firm Jefferies has released a report on Monday, February 23, the first trading day of the week. In which the rating of major IT companies of the country has been reduced.
Besides, the target price of company shares has also been reduced. Let us know about these selected companies…..
1. Infosys Share
Brokerage house Jefferies has softened its view on IT sector giant Infosys. The firm has reduced the stock’s rating from ‘Buy’ to ‘Hold’. Also, the target price of the company has been reduced from Rs 1,880 to Rs 1,290. The newly fixed rate shows a decline of about 5 percent compared to Friday’s closing level.
2. TCS Share
The brokerage house has taken a negative stance regarding the famous IT sector company Tata Consultancy Services. The target price has been reduced from Rs 3,485 to Rs 2,350 while changing the stock’s rating to ‘Underperform’. This indicates a decline of 12.5 percent as compared to Friday’s trading day.
3. HCL Tech Share
The brokerage firm has changed its stance regarding HCL Technologies. The firm has reduced the stock’s rating from ‘Buy’ to ‘Hold’. With this, the target price has been reduced from Rs 1,885 to Rs 1,390. There is a decline of about 4 percent compared to Friday’s market closing level.
4. Hexaware Technologies
The brokerage has weakened its view on Hexaware Technologies and reduced the company’s rating to ‘underperform’. Also, the firm has reduced the target price from Rs 660 to Rs 460. Which shows the possibility of a decline of about 12 percent compared to the current level.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
Also read: Outcry in the crypto market, Bitcoin at 8 months low at $65,000; Know the condition of other cryptocurrencies