Last week, Nifty IT index witnessed a gain of about 3.5%. However, in the calendar year 2022 so far, the index is down about 27% and its constituents have fallen over 14 per cent. If the index stocks start moving in an upward direction then it will be a very interesting sector to watch out for.”With the US economy heading towards a soft landing and IT companies under margin pressure due to high wages, stocks are taking the beating. They are still not inside the attractive valuation zone. However, 5-10% more correction and they will again start attracting investors’ interest,” said Siddarth Bhamre, Head of Research, Religare Broking Limited.Here are 7 stocks from the sector that are still trading at least 50% away from their 52-week high price.
Stocks to buy: IndusInd Bank, PC Jewellers and Mold-Tek on investors’ radar
Sensex closed marginally down in a volatile session as IndusInd Bank fell 27% due to selling pressure, while PC Jewellers rose 0.8% and Mold-Tek increased
March 12, 2025