AI-driven deflation, rising competition weigh on India IT sector growth: Kotak
Kotak assigned BUY ratings to TCS, Infosys, and Tech Mahindra, while HCL Technologies and Wipro received REDUCE and SELL ratings, respectively, due to AI-driven deflation and rising competition weighing on India IT sector growth. The ratings were based on the impact of these factors on the sector's growth.
Kotak has assigned BUY ratings to TCS, Infosys, and Tech Mahindra. In contrast, HCL Technologies and Wipro received REDUCE and SELL ratings, respectively. The ratings are a result of AI-driven deflation and rising competition affecting India's IT sector growth. The IT sector is facing challenges due to these factors. Kotak's ratings reflect the varying impact on these major IT companies. The sector's growth is being weighed down by these challenges.
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