Goldman Sachs lowered price targets for IT stocks by 3% to 32% due to reduced US revenue growth forecasts. LTIMindtree was downgraded to ‘Neutral’, while Tata Consultancy Services remains better positioned. Wipro and Tech Mahindra may face more significant challenges. Discretionary spending recovery could be further delayed, potentially affecting project scopes and IT spending.
Dalal Street Week Ahead: Sideways consolidation likely to persist amid global trade uncertainty
The Nifty experienced a week of range-bound trading, closing slightly lower with a 0.53% loss. Facing resistance near the upper edge of a rising channel,