IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to ‘Buy’

Shares of information technology (IT) companies are in demand, with their shares having rallied up to 6 per cent on hopes of a recovery.

The IT sector is now on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to analysts.

Coforge, LTIMindtree, Mphasis, Persistent Systems, L&T Technology Services (LTTS), Wipro, HCL Technologies, Tech Mahindra, Infosys and Tata Consultancy Services (TCS) have rallied in the range of 2 to 6 per cent in Tuesday’s intra-day trade.