The Indian stock market has been experiencing volatility over the past few days. Meanwhile, brokerage firm Jefferies released a report on Monday, February 23rd, the first trading day of the week....

Jefferies Downgrades Indian IT Stocks: The Indian stock market has been experiencing volatility over the past few days. Meanwhile, brokerage firm Jefferies released a report on Monday, February 23rd, the first trading day of the week, downgrading the ratings of the country's leading IT companies.

Additionally, the target prices of company shares have also been cut. Let's learn more about these selected companies...

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1. Infosys Shares 

Brokerage firm Jefferies has slightly softened its outlook on IT giant Infosys. The firm downgraded the stock from "buy" to "hold." It also lowered its target price from ₹1,880 to ₹1,290. The new price represents a decline of approximately 5 percent compared to Friday's closing price.   

2. TCS shares

The brokerage firm has changed its negative stance on Tata Consultancy Services, a prominent IT company. The stock's rating has been changed to "underperform," and the target price has been reduced from Rs 3,485 to Rs 2,350. This implies a 12.5% ​​decline compared to Friday's trading session.

3. HCL Tech Shares

The brokerage firm has revised its stance on HCL Technologies. It has downgraded the stock from 'buy' to 'hold'. It has also lowered its target price to Rs 1,390 from Rs 1,885. This represents a decline of approximately 4% compared to Friday's market closing level. 

4. Hexaware Technologies 

The brokerage has downgraded its outlook on Hexaware Technologies and downgraded the company's rating to "underperform." The firm also lowered its target price from Rs 660 to Rs 460, implying a downside potential of approximately 12% from current levels.