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    Standout Brokerage Report: Nomura raises target price for Infosys, HCL Tech, Tech Mahindra

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    Standout Brokerage Report: Nomura raises target price for Infosys, HCL Tech, Tech Mahindra

    In Standout Brokerage Report, Nomura has raised targets for the large-cap IT names led by higher EPS and target multiples. Its top bets are Infosys, HCL Technologies, and Tech Mahindra.
    The brokerage has raised the dollar revenue estimate by 1-5 percent and EBIT estimates by 40-150 basis points over FY21 and FY22. Therefore, the EPS estimates for tier-I IT companies go up by 1-16 percent.
    Going forward, Nomura expects a 9-10 percent dollar revenue CAGR for companies like Infosys, HCL Technologies, and Tech Mahindra. For Wipro, it is expecting 6.5 percent US dollar revenue growth.
     
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