LTIMindtree, Persistent help Indian IT stocks buck market weakness

Persistent Systems

18/02/2025 07:24

** Indian IT index  .NIFTYIT  the only one among 13 major
sectors trading higher, bucking broader market weakness  .BO 
    ** IT stocks up 0.24% vs a 0.5% drop in benchmark Nifty 50
 .NSEI 
    ** LTIMindtree  LTIM.NS  top gainer, up 2.83% after signing
a multi-year contract
    ** Persistent Systems  PERS.NS  follows, with a 2.71%
increase
    ** JP Morgan expects PERS to be the fastest growing in its
coverage over FY25-27, saying it navigates tough macro
environment well
    ** Heavyweights Infosys  INFY.NS  flat, while TCS  TCS.NS 
down 0.6%
    ** IT index has lost 4.9% YTD, more than Nifty 50's ~3% drop

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))