Brokerages said the earnings hit for Indian IT firms on account of Donald Trump’s $100,000 H-1B levy is likely to be modest and largely offset by higher offshoring and localisation.
Agencies
Nomura, Kotak and BofA see the disruption as short-lived and are advising clients to accumulate largecap names on weakness, with Infosys, TCS, HCL Tech and Tech Mahindra among their top picks. Some brokerages also see selective opportunities in midcaps such as Coforge and Firstsource.
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