Morgan Stanley adds Coforge, Indigo to India focus list, knocks off Infosys, Mahindra

Morgan Stanley tweaks its India focus list of stocks to add IT company Coforge COFO.NS and airlines operator Interglobe Aviation INGL.NS

Brokerage removes Infosys INFY.NS and automaker Mahindra & Mahindra MAHM.NS to accommodate the additions

Brokerage remains positive on large private sector financials, consumer, industrial and IT stocks

Large-deal momentum, increasing addressable market, execution track record bodes well for COFO's growth prospects, it says

Adds, COFO's recent underperformance over IT stocks offers good entry point

COFO down 25% in 2025 so far; IT .NIFTYIT lost 17%

INGL's rising market share in India, one of the fastest growing aviation markets, to aid earnings over fiscal years 2025-2027, according to Morgan Stanley

COFO little changed on the day, INGL is up 1.6%; INFY and MAHM up 0.4% and 1.9%, respectively