IT Stocks Rally: Wipro, Infosys, Birlasoft Shares Jump Over 3%; Jefferies Sees IT Re-Rating Potential
Wipro moved higher.
· NDTV Profit, ET Stocks, Economic Times Markets
Wipro, Infosys and Birlasoft lead IT stock gains, while Jefferies sees selective upside in large- and mid-cap stocks and raises large-cap target prices by 1418%.
The analysis
Wipro reported movement of 3% and 1418%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +3.4% on the day at ₹188.31, and has returned +8.2% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +4.4% over the same period, so Wipro is running 3.8 points ahead of its peers.
With Wipro, Infosys and Birlasoft all implicated, this reads as a IT-level move rather than a company-specific one, which is the more durable kind of signal.
Market context
- It touches several names at once (WIPRO, INFY, BSOFT), which points to a sector-level rather than company-specific driver.
- Sector exposure: IT.
- The immediate tone of coverage reads positive.
In this story
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