Institutional investors step up IT playThe ISG index — a measure of commercial outsourcing contracts — rose 8% quarter on quarter in annual contract value in managed services. This growth in the core operating space for Indian IT services firms indicates continued strength in large deal activity. SynopsisLocal funds raised allocation to IT stocks by 70 basis points in June on a month-on-month basis, the highest across sectors. Interestingly, out of the top 20 domestic funds, only three are overweight on IT — this leaves a significant room to expand from the current level if the momentum continues.

Source: Economic Times July 19, 2021 01:07 UTC