Nuvama Upgrades Indian IT Stocks To Buy
Brokerage Nuvama upgraded all top 10 Indian IT services stocks to 'Buy' after a Gen-AI-driven selloff, citing attractive valuations and overstated disruption fears. Nuvama argues enterprises will still need system integrators to customize and support complex brownfield stacks, and its reverse-DCF finds stocks discounting implausibly low terminal growth. It projects 14–84% upside and a $300–400 billion AI-services opportunity by 2030.
Scoring Rationale
Strong brokerage-backed, actionable buy thesis with credible analysis, but limited novelty beyond reiterating sector recovery view.
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Sources
- Read OriginalReports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stockseconomictimes.indiatimes.com
