Mon Jul 2, 2012 12:11pm IST
* Macquarie Equities Research has downgraded Indian IT services
sector to "underweight" from "overweight" citing demand concerns
as Infosys, which already
has 30 percent of staff on
the bench, delays joining dates for new hires.
* Given the bearish outlook, Macquarie has cut ratings on
India's top three software exporters Tata Consultancy Services
, Infosys and Wipro to "underperform".
om its Top-10 list,
replacing it with ICICI Bank.
* Infosy
* The brokerage has also removed TCS f
rs is delaying taking on board some of its planned 28,000
d by
India's No. 2 software services company, Indian media had
new recruits until mid-2013, underlining the slowdown fac
e
reported last month.
* Macquarie goes "overweight" on industrials from "neutral,"
erest rates and possible appreciation of
rupee.
* Among other ch
reflecting its growing optimism about a pickup in infrastructure
spending, cut in in
tanges, the brokerage has added Bharat Heavy
Electricals, Hindustan Petroleum Corp, Asian
Paints and Wockhardt to its model portfolio
while removing Housing Development Finance Corp and
MindTree.
(curtsey : reuter)
Rupesh Yatesh Dalal
Head Research Department
Website : www.marketcalls.net Facebook : www.facebook.com/marketcalls.net Twitter : @marketcallsnet Yahoo Messenger : rupeshydalal@yahoo.com Email : info@marketcalls.net
