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BoA upgrades Infosys and Tech Mahindra to 'buy'

Source : REUTERS
Last Updated: Tue, Sep 18, 2012 04:20 hrs

MUMBAI, Sept 18 (Reuters) - Bank of America Merrill Lynch has upgraded Infosys and Tech Mahindra to 'buy' from 'neutral' citing improved revenue confidence and hopes of better earnings.

The investment bank says anecdotal evidence indicates deal closures are picking up and softness in the banking vertical is bottoming.

Infosys rose 1.7 percent, while Tech Mahindra gained 1.8 percent. (Reporting by Divya Chowdhury and Abhishek Vishnoi; Editing by Prateek Chatterjee)


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