Mid-cap IT Stocks

Nomura said it prefers Infosys and Cognizant among large-cap IT services firms, Coforge in mid-caps and eClerx in small-caps.

Nomura, which termed Coforge its "top pick in the mid-cap India IT services sector," said the company is banking on a solution-led sales strategy to maintain its growth trajectory.

Valuations across the sector remain attractive, but Nomura stays selective. It has rolled forward its valuation framework to H1FY28 while maintaining target multiples.

On the bourses, Coforge share price zoomed up to 5.98 per cent to hit an intraday high of ₹1,866 per share post Q2 results.

At 9:43 AM, Hexaware Technologies shares were trading at ₹870.50, up by 1.53 per cent on the National Stock Exchange.

Technical chart shows presence of strong support for HCL Technologies stock in the ₹1,515 - ₹1,533 range.

Tata Elxsi stock was seen testing its 100-DMA support after a gap of two months; chart hints that the stock could slide all the way to ₹5,285 levels, in case near support levels are taken out.

Thus far in CY25, the Nifty IT index has been an underperformer, slipping nearly 11 per cent as compared to 5 per cent rise in the Nifty 50 index

Trump Tariffs: Analysts at Kotak Institutional Equities believe Tata Consultancy Services (TCS), followed by Infosys, HCL Tech, and Coforge have lower downside from current levels

Why are midcap IT stocks rising today: Persistent Systems share price soared 8 per cent to Rs 6,163.45 per share after the company reported broad-based growth across geographies and segments.

HCLTech declared a dividend of Rs 18 per share, including a special Rs 6 per share dividend to commemorate 25 years since its public listing, marking its 88th consecutive quarter of dividend payouts

HCLTech's Q3FY25 performance is expected to reflect steady growth despite industry challenges such as furloughs and cross-currency headwinds

Tanla Platforms share price: Over the past three months, Tanla Platforms share has declined 25 per cent on the bourses. It has dropped 28.6 per cent in six months, and 38.6 per cent in calendar year

Analysts anticipate growth momentum to return in FY25 for IT sector, aided by a lower base coupled with easing sectoral headwinds.

A combined 2.42 million equity shares, representing 1.73 per cent of the total equity of the company, had changed hands on the NSE and BSE till 11:21 AM.

Fed rate cuts, Accenture promotion delay sour mood

Nifty IT up 1.77 per cent intraday after US Fed signals rate cut in September. HSBC believes mid-tier IT is not so strong.

On the bourses, Mphasis has rallied 26.7 per cent in the last three months, driven by expectations of interest rate cuts in the US and early signs of recovery in the US-BFS sector.

Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector

While index requires to scale major hurdles, the aggressive rally towards those has triggered positive upside in IT stocks.