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High likelihood of Nifty IT under performance over 2021: ICICI Securities

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Tata Consultancy Services (TCS) have hit their all time highs on Friday. Other IT major companies including HCL Tech, Wipro, are trading close to their all time high.

Brokerages have been maintaining over weight stance on the sector for some years. Now the analysts are asking to be cautious in the next year."We have been maintaining Over Weight (OW) stance on the sector for the previous three years post Tax Cuts and Jobs Act (TCJA) came into effect in US in Dec-17.

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