Stocks To Buy: ICICI Securities Lists Top IT Software Stocks That Can Soar 25%

If you buy these stocks now, you can expect to receive return up to 25%. Check details pertaining to the stocks below:

1. Buy LTIMindtree: ICICI Securities has assigned buy call to LTIMindtree with target price of Rs 5629 apiece. Current market price of LTIMindtree is Rs 4739.30 apiece. If you buy LTIMindtree share now, you can get likely return of 19%. The stock’s 52-week high price is Rs 6429.40 apiece and 52-week low price is Rs 3733.25 apiece, respectively. It gave return of over 8% in last 3-months, fell 23% in last 1-year, gave return of 15% in last 2-years, and 249% return in last 3-years.

According to ICICI Securities, “LTIM remains the fastest-growing IT services company under our coverage at 10.4% CC revenue growth in FY24E and 16.3% / 16.2% during FY25E/ FY26E.”

2. Buy Infosys: The analyst has recommended investors to buy Infosys with target price of Rs 1759 per share. Current market price of Infosys is Rs 1410.95 apiece with intraday fall of 1.17%. Its 52-week high price is Rs 1909.95 apiece and 52-week low price is Rs 1355.50 apiece, respectively. The stock is trading near its 52-week low price. If you buy Infosys share now, you can get likely return of 25%.

It declined 25% in last 1-year, gave return of 141% in last 3-years, and 147% return in last 5-years.

According to ICICI Securities, “We expect INFY’s superior digital capability, focus on large cost optimisation / digital transformation / integrated deals and strong management execution would enable it to remain the fastest-growing large-cap IT services company globally. We expect INFY to start with a conservative revenue growth guidance of 6-8% in CC terms for FY24E given the overhang around recent banking crisis and limited visibility on how it may unfold over next few months.”

3. Buy TCS: The brokerage is bullish on this Tata Group stock and assigned buy call with target price of Rs 3813 apiece. Current market price of the stock is Rs 3199.25 apiece on BSE. Its 52-week high price is Rs 3835.50 apiece and 52-week low price is Rs 2926.00, respectively. The stock is currently trading near its 52-week low price. If you buy TCS share now, you can get likely upside of 19%. The stock fell 14% in last 1-year, gave return of 7% in last 6-months, 1% in last 2-years, and 93% return in last 3-years. In last 5-years, it soared 120%.

According to the analyst, “We expect TCS to be a major beneficiary of vendor consolidation and clients’ focus on cost optimisation. Post recent cuts in revenue estimates we expect TCS to report 6.2% YoY CC growth in FY23E with double-digit revenue growth in both FY25E/FY26E.”

4. Buy Mphasis: ICICI Securities has assigned buy call to Mphasis with target price of Rs 2061 per share. Current market price of the stock is Rs 1799.75 apiece. If you buy Mphasis share, you can get potential return of 15%. Its 52-week high price is Rs 3410.30 apiece and 52-week low price is Rs 1664.25 apiece, respectively. The stock is currently trading near its 52-week low price.

According to ICICI Securities, “Mphasis has been one of the worst performing stocks in Indian IT space and under our coverage since mid-Feb’23, having corrected by 24% vs NIFTY IT correcting by 12%. This we believe is due to its highest exposure to BFSI vertical at 62% of overall revenues within our coverage where there is delay in decision-making and general pause on discretionary spending.”

Disclaimer: The stocks have been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision