Persistent, Hexaware Get A Seat At The 'IT Challengers' Table: Why Is Morgan Stanley Looking Beyond TCS, Infosys?
Tata Consultancy set out an expansion.
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Morgan Stanley's broader challenger basket includes Coforge, Mphasis, Hexaware, Persistent and LTM, adding that "challengers" now have more diversified service offerings, are expanding into new geographies, and are increasingly competing for large deals.
The analysis
Against that, the stock is -0.2% on the day at ₹2,077.00, and has returned +2.1% over three months. It sits 38% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +1.1% over the same period, so Tata Consultancy is running 1.0 points ahead of its peers.
For Tata Consultancy, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Market context
- The company directly in focus is TCS.
- Sector exposure: IT.
In this story
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