Stock market: Today the IT is in the focus of the stock market. IT shares showed strength in the weak market. Especially midcap it has good action. After JP Morgan’s outperform rating Personal systems The stock has jumped more than 4%. as well as Tech Mahindra, Ltimindtree and Ltts I have also strengthened up to 2 percent.
Jaypeemorgan has given outperform rating to Persistent Systems and has fixed the target price of Rs 7,200. The brokerage firm says that this company is moving forward in all the stock it is covering. Brokerage estimates that in FY 2025-27, the company’s revenue may increase with a compound rate (CAGR) of 21% annually and 29%.
Brokerage says the company is dealing properly in difficult macro conditions. The stock has fallen 13% in 3 weeks and this is a good chance to buy high quality shares. The reduction in the subcontracting cast and improvement in business can increase margins. The stock has all the qualities of becoming a further growth compounder.
It jumped 4.57% to Rs 5788.90 in Intrade. Talking about the speed of shares in 1 year, last year, on June 4, 2024, it rose more than 110% in six months from Rs 3232.60 to a record high of Rs 6788.80 on 20 December 2024. Currently, it is about 15 percent of this highs.
CLSA there Tech mahindra Has given outperform rating and has fixed the target price of Rs 2030. The CLSA says that Tech Mahindra is his top pick in Largecap IT. The company’s results were good. FY27 can achieve a target of 15% Ebit margin growth. In FY27, revenue may be better than the growth industry. Many important decisions will strengthen the orderbook. Improvement in profits with better execution is possible.
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