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Bank of America Merrill Lynch upgrades Tech Mahindra to 'Buy'

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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.

Copyright @ Thomson Reuters 2012

Story first published on: September 18, 2012 10:37 (IST)


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