New Delhi, Sept. 8 -- Beaten-down shares of India's top five IT services firms are attracting fresh interest from analysts betting that a weaker rupee, AI deals, and possible US rate cuts could spark a revival.

Nuvama Institutional Equities on 1 September upgraded its recommendation on India's information technology services sector from 'underweight' to 'overweight', recommending that investors include more IT stocks in their portfolio.

Axis Capital, Antique Stock Broking Ltd, JM Financial, and HDFC Securities are also more optimistic on domestic IT stocks than they were at the beginning of the year.

"We are upgrading IT to OW, from UW earlier. Over (the) last three years, IT has become more of a trading/relative valuation call rather ...