Goldman Sachs recently reduced price targets for Indian IT stocks citing expected lower revenue growth in the face of economic uncertainty in the United States. The move particularly impacted companies like LTI and Mindtree, which rely heavily on revenue from the US market. Conversely, TCS emerged as a more favorable option in the eyes of the brokerage. The firm pointed out persistent obstacles such as subdued discretionary spending and the likelihood of project delays stemming from macroeconomic factors.
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Goldman Sachs lowers Indian IT stock targets over US economic concerns; LTI, Mindtree downgraded, TCS remains strong.
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