January 16, 2018 / 5:58 AM / a month ago

BUZZ-India IT stocks gain; Morgan Stanley expects turnaround in 2018

** Shares of IT services firms such as Infosys Ltd , Tata Consultancy Services Ltd and Wipro Ltd rise as much as 2.48 pct to 4.52 pct

** Morgan Stanley says it expects a turnaround for IT services stocks in 2018 following tepid revenue growth last year

** North America is likely to pick up in mid-2018 as banking clients start to spend, while digital deals have started bulking up, which could improve revenue growth rates and visibility, Morgan Stanley says in a note

** Morgan Stanley raises ratings for Infosys, Tech Mahindra Ltd and HCL Technologies Ltd to “overweight” and price targets

** The Nifty IT index climbs as much as 3.09 pct to highest since April 2015, with all stocks in the green

** Infosys hits its highest since July 15, 2016, Wipro rises to levels not seen since March 25, 2015, and TCS gains to its highest ever

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