Emkay Global calls it sector a buy after 21% fall
After a rough February that saw Indian IT stocks tumble 21%, Emkay Global is now calling the sector a buy.
The big worry was that generative AI might shake things up, but Emkay thinks the panic has gone too far.
With IT stocks trading at more reasonable prices and offering solid cash returns, they see this as a good time to get in—even if long-term growth looks modest.
Emkay drops Mphasis for Infosys, HCL Tech
Emkay is switching things up in its model portfolio, dropping Mphasis for Infosys and HCL Tech—basically betting on bigger names with steadier earnings.
They're projecting returns of 6.5%-18.3% if things go well, and even in tougher times, Emkay projects modest gains or limited downside.
Plus, with IT exports making up a huge chunk of India's economic stability, Emkay feels confident the sector will weather any AI storms ahead.