FIIs dump Infosys and TCS, but mutual funds make bold contra bets on IT stocks. Who will win?
As FIIs exit India’s IT sector, mutual funds are stepping in. Foreign investors pared stakes in eight of the top 10 IT stocks, including Infosys, TCS, HCL Tech, and Tech Mahindra, during the September quarter. Domestic fund managers, however, bought nine out of ten, with Persistent Systems, Tech Mahindra, and Coforge seeing the sharpest divergence in holdings.