IT stocks: Institutional investors step up IT play

0 13

The ISG index — a measure of commercial outsourcing contracts — rose 8% quarter on quarter in annual contract value in managed services. This growth in the core operating space for Indian IT services firms indicates continued strength in large deal activity.

Synopsis

Local funds raised allocation to IT stocks by 70 basis points in June on a month-on-month basis, the highest across sectors. Interestingly, out of the top 20 domestic funds, only three are overweight on IT — this leaves a significant room to expand from the current level if the momentum continues.

ET Intelligence Group: Institutional investors are raising wagers on the information technology counters, thanks to a strong deal pipeline and expectation of several companies beating revenue guidance in the first quarter of fiscal 2022.

The sectoral weight of domestic funds rose to a multi-month high of 11.7% in June 2021, according to data compiled by Motilal Oswal Financial Services.

Local funds raised allocation to IT stocks by 70 basis

  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • PRINT
  • COMMENT

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Already a Member?

Mega Monsoon Offer on ET Prime

Celebrate the rains with ET Prime.Get 30% Off on 1 & 2 Year Plans

Get Offer

Mega Monsoon Offer on ET Prime

Subscribe to ET Prime – Get Flat 30% Off

Get Offer

Mega Monsoon Sale

Subscribe to ET Prime – Get Flat 30% Off

Get Offer

Why ?

  • Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

  • Stock analysis. Market Research. Industry Trends on 4000+ Stocks

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

Read original article here

Denial of responsibility! Swift Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.