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India’s IT sector is facing significant challenges as stocks have plummeted due to recession fears in the US, AI competition, and valuation concerns. Major IT firms, including TCS and Infosys, have seen substantial losses, and uncertain revenue growth is exacerbating investor apprehensions.

ICICI Securities upgraded Tata Communications to BUY, increasing the target price to Rs 1840 from Rs 1690. With a market cap of Rs 42893.93 crore, Tata Communications reported a total income of Rs 5826.80 crore for the quarter ended December 2024. The upgrade is due to strong sales funnel, digital services focus, AI adoption, compelling valuations, and disciplined financial management.

What is happening is that there was a bit of a positive view on IT and mostly consensus positive view saying that incremental deal flow has been good, IT firms are hiring, and as you see a bit of a strength come through in US economy this discretionary spending will get better.

Despite the initial hype around consumer stocks benefiting from tax relief post-Budget, most have delivered negative returns over the past month due to broader market corrections and foreign investor exits. Analysts predict improvements to materialize from Q1 of FY26, with the sector becoming attractive for medium to long-term investments.

The rupee appreciated 19 paise to 87.03 against the US dollar, aided by favourable macroeconomic data. Lower crude oil prices and a weaker dollar index supported the local currency. India s retail inflation dipped to a seven-month low, and industrial production growth rebounded. Global markets reacted to increased US tariffs, with Canada and the EU imposing reciprocal taxes.

Axis Securities maintains an equal weight call on Max Healthcare Institute, targeting a price of Rs 1,315. Max Healthcare s Q4 FY24 revenue rose 8.77% QoQ to Rs 1,901.61 crore. The firm s profitability in Lucknow and Nagpur is anticipated to increase with higher occupancy and new clinical programs. Promoters and institutional investors hold significant stakes in the company.

Hemang Jani highlights the promising outlook of defense companies BEL and HAL due to increased budget allocation and high growth performance. He also favors InterGlobe for its market dominance and growth potential with new airports. Jani advises investment in value stocks like Reliance and Bharti.

Sunil Koul, an emerging market equity strategist at Goldman Sachs, predicts a gradual GDP growth recovery in India, reaching 6.4% by CY25. This recovery is expected to be driven by policy improvements, better consumption, and stable exports. He highlights risks in the small and midcap sectors due to high valuations and stresses the importance of cautious investment in these areas.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.