ICICI Direct has identified two IT stocks that it believes will weather the current macroeconomic headwinds and deliver industry-leading growth in FY24. Persistent Systems and Happiest Minds are both expected to benefit from the digital transformation of enterprises, with Persistent Systems crossing the $1 billion-revenue threshold in FY23 and Happiest Minds being given a target price of Rs 1,038 by the brokerage. Despite the broader macro concern that discretionary digital spend is getting postponed
Allied Engineering Works files IPO papers; seeks to raise Rs 400 cr via fresh issue
Smart energy meter manufacturer Allied Engineering Works has filed preliminary papers with the markets regulator Sebi to garner funds through an initial public offering (IPO).