Jefferies has a buy recommendation on only one Indian IT stock

Maintaining its bearish stance on the sector, even after Accenture posted Q4FY22 revenue growth of 22% year-on-year (YoY), global brokerage firm Jefferies said it likes only Infosys NSE 0.30 % within the sector. “This is as cautiousness has started to creep in the pocket with rising focus on cost-controlling measures, weaker hiring trend, and soft FY23 revenue growth guidance of 8-11% YoY in CC (constant currency) terms”, added Jefferies.