This is a partial summary of the report, “Indian IT Sector Mid Caps – A Treasure Trove”. The 11 page full report with eight IT firms’ analysis and investment recommendations, is available only to Subscribers.
Date: October 14, 2012
India has a competitive advantage in the global IT services. This is borne out by the success of the famed large caps like TCS, Infosys, Cognizant, Wipro, etc. Beyond this set, there is a terrific bunch of mid-caps that are rapidly establishing themselves.
A comparison of eight Indian mid-cap IT stocks provides interesting insights for investors. The market price has appreciated by an average of 13.4% CAGR over the last 5 years (Sensex and Mid-Cap indices have been flat in this period). This makes this entire category an attractive investment option. Within this group, there are a few standout investment opportunities, some firms are rated BUYs, and there is one HOLD and one SELL.
The last year has seen USD/INR fluctuations, but overall INR is weaker by 8.2%. This boosts financials of software exporters, and makes Indian services more competitive. INR is unlikely to strengthen very fast from here. Invest in this sector to get above average returns.
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