# Kotak backs mid-tier IT stocks over TCS, Infy

> Kotak prefers Tech Mahindra, Persistent, Coforge for stronger growth over TCS and Infy.
- Title: Kotak backs mid-tier IT stocks over TCS, Infy | Shortify
- Summary: Kotak prefers Tech Mahindra, Persistent, Coforge for stronger growth over TCS and Infy.
- Keywords: kotak institutional equities, tech mahindra, persistent systems, coforge, tata consultancy services, infosys, mphasis, nasdaq, nvidia, amd, broadcom, revenue growth
- Source: Financialexpress — https://financialexpress.com/market/tech-mahindra-persistent-coforge-why-kotak-backs-mid-tier-it-challengers-over-tcs-infy-4383316
- Author: Shivangini Gupta
- Published: 2026-11-13T04:31:14+00:00
- Read time: 1 min
- Topics: kotak institutional equities, tech mahindra, persistent systems, coforge, tata consultancy services, infosys, mphasis, nasdaq, nvidia, amd, broadcom, revenue growth
## Kotak's preferred IT stocks
Kotak Institutional Equities favors mid-tier IT companies with stronger revenue growth over large-cap peers.

> We retain our preference for challengers and hybrids over incumbents
## Q3 revenue growth figures
Persistent Systems reported 20% year-on-year constant-currency revenue growth, Coforge 43%, and Tech Mahindra 7.2% in September quarter.
## FY27 growth expectations
Kotak expects Persistent to lead sector growth with 19.9% organic revenue growth in FY27, followed by Coforge at 13.8%.
## US tech market impact
Nvidia shares fell 4.34% after CEO Jensen Huang's reported departure, while AMD and Broadcom gained.
## US tech market reaction
Nasdaq Composite fell 0.40% to 25,363.75, S&P 500 declined 0.34%, and Dow Jones fell 0.36% on Thursday.
## Indian IT stock performance
TCS reported 2.8% growth, Infosys 1.5%, HCLTech 2.6%, and Wipro 0.6% in September quarter.
## Kotak's growth outlook
Kotak expects Persistent and Coforge to lead sequential revenue growth in December quarter, with Tech Mahindra delivering modest growth.
## Key factors for growth
Deal conversion, client spending, and employee furloughs will be critical for tracking revenue growth in coming quarters.
## Key takeaway

Kotak Institutional Equities favors mid-tier IT companies like Tech Mahindra, Persistent, and Coforge for better revenue growth than large-cap peers TCS and Infosys.