IT stocks surge up to 26% in 3 months; Infosys, Coforge, TCS among top brokerage bets
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IT stocks have outclassed most sectoral peers delivering aggregate 13% returns at an index level in the past 3 months. Midcap counter Coforge and Infosys are among the leaders in the pack with a lone exception in Wipro, which has seen its share price erode. Coforge tops the chart with 26% returns in the past three months and is followed by largecaps LTIMindtree (20%) and Infosys (18%). HCL Technologies, Persistent Systems, Tech Mahindra and Mphasis have delivered double-digit numbers between 18% and 12%. TCS and L&T Technology Services (LTTS) have yielded over 7% and 2%, respectively. Meanwhile, Wipro has seen its share price erode by 1.5%. With the exception of LTTS and Wipro, the rest have outperformed the broader Nifty index, whose returns in the same period stand at 3.3%. The only sector that has done better than IT is pharma with Nifty Pharma posting 17% growth in the last three months. As the Q2FY25 earnings season begins toda...