IT sector valuations highly attractive after 21% YTD slump; Coforge, Infosys, TCS among top IT stocks to buy: Nuvama

Analysis of this story by livemint_markets · 11 Mar 2026, 11:21 AM IST (about 2 months ago)

BULLISH(90%)

sell

+41.7COFORGE INFY TCS Information Technology

AI Analysis

The IT sector has been under pressure due to Gen-AI concerns, leading to significant corrections. This presents a potential entry point for investors.

Trading Insight

Look for accumulation opportunities in fundamentally strong IT companies, especially large-caps, on dips.

Quick check: COFORGE bearish bias (oversold), INFY bearish bias (oversold).

Key Evidence

•Indian IT stocks have seen massive value erosion, with the Nifty IT index plunging 21% YTD.
•Large-cap IT stocks fell 20% and midcap IT stocks corrected 25% YTD.
•Nuvama identifies Coforge, Infosys, and TCS as top IT stocks to buy.
•The slump is attributed to fears of Gen-AI affecting the long-term business model.
•Risk flag: Continued uncertainty around Gen-AI's long-term impact