UBS lowers EPS estimates for IT sector

UBS has bargain its earning per allotment estimates for ample cap Indian IT companies by 6-10 percent and 10-17 percent for abate vendors for FY13-16 as accretion competition, slowing accord flows and falling valuations would see a structural de-rating in the sector.

UBS downgraded Infosys to ‘neutral’ from ‘buy’ and MphasiS, Patni Computer Systems and Tech Mahindra from ‘neutral’ to ‘sell’.

The Swiss coffer said in a address it expects lower allowance venders like Cognizant and HCL technologies to attempt added aggressively, which is acceptable to amplify appraisement and allowance burden on beyond vendors eventually, authoritative it difficult for the closing to accretion bazaar share.

At 1.00 p.m CNX IT basis was trading lower by 0.75 percent.

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