Analysts bullish on mid-cap IT stocks as valuations turn attractive

They also remain optimistic on the road ahead for the IT sector given the sharp fall in rupee's value against the US dollar.

Infosys touched a fresh high of Rs 822.30 apiece on the BSE on Wednesday, after foreign brokerage firm UBS maintained a 'buy' rating on the stock with the target price of Rs 850. Thus far in calendar year 2019 (CY19), the stock has gained 23 per cent as against one per cent rise in the S&P BSE Sensex. In fact, the stock has done well since the presentation of the Budget in July – rising nearly 11 per cent at a time when the S&P BSE Sensex has slipped over 8 per cent.

Revenue visibility in the remaining part of