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Banking, finance and select infrastructure stocks featured prominently on analysts’ wish lists in November, while IT companies continued to be at the receiving end of brokerages’ sell calls.
October was a particularly a harsh month for big names such as HDFC Bank, TCS and HUL, which posted less-than-flattering numbers for the second quarter and were immediately caught in a flurry of brokerage downgrades
The Bengaluru-headquartered firm, once the bellwether of the Indian IT industry, topped the list of companies which saw the most downgrades over the past year.
While analysts and investors have moved away from UPL in anticipation of bleak prospects, the last two quarters of FY24 are expected to see improvement in demand for agrochemicals globally
HCL Tech, which has a fairly sizeable exposure to the troubled BFSI segment in key US and Europe markets, is likely to report a drop in constant currency revenue growth in a seasonally weak fourth quarter. Its consistent underperformance is also a worrying factor.