The large-cap information technology (IT) stocks rallied on Tuesday on the back of a rating upgrade by global brokerage Morgan Stanley.
Shares of Tata Consultancy Services (TCS), Infosys and Wipro gained around four per cent each after the brokerage revised upwards their price targets between five per cent and 26 per cent. “The Indian IT services stocks could be set for a turnaround in 2018,” said Morgan Stanley analysts Parag Gupta and Gaurav Rateria in a note on Monday. “Valuations are at or below long-term averages and an improving global macro could spur tech spending, which could re-rate stocks,” the duo
