Today's rebound in TCS shares came as the Tata group announced a partnership with OpenAI amid the ongoing India AI Impact Summit in New Delhi
Tata Group and TCS join hands with OpenAI to set up a 100 MW AI data centre in India, scale enterprise AI adoption and enable industry-specific solutions globally
The deal is a major boost for TCS, which in a strategic shift last year disclosed plans to invest up to $7 billion in a 1 gigawatt data centre unit in India
The correction in IT stocks has been driven by mounting concerns among investors over the potential impact of AI on the sector's growth outlook
The collaboration includes a blueprint for AI-ready data centres capable of scaling up to 200 megawatts of capacity
The Nasdaq IT services basket has corrected meaningfully, dragging Indian IT ADRs lower and triggering a risk-off sentiment that has spilled into domestic markets, said ICICI Securities.
Reliance Industries currently ranks first with a market capitalisation, followed by HDFC Bank in second place and Bharti Airtel in third
Analysts at Geojit Investments and Choice Broking are bullish on Tech Mahindra stock, and view the current fall as a correction rather than trend reversal.
TCS, Wipro, Infosys, Coforge, Tech Mahindra, Persistent Systems, HCL Technologies, LTIMindtree and Mphasis were down in the range of 4 per cent to 5 per cent in intra-day trade on Thursday.
At 11:55 AM on Wednesday; SBI's market cap stood at ₹10.78 trillion, as compared to TCS's market cap of ₹10.68 trillion on the BSE, the exchange data shows.
Tata Sons chairman N Chandrasekaran asked TCS employees to embed AI into daily work, reflect on recent underperformance and focus on execution as adoption of the technology accelerates
Cyient, Birlasoft, Cigniti Technologies, eClerx Services and Tata Technologies were down between 4 per cent and 6 per cent in Friday's intra-day trade.
ADRs of Wipro and Infosys fell by up to 3.3 per cent on Wednesday, extending losses after declining around 6 per cent amid rising concerns about the global tech sector
The Nifty IT index plummeted 5.9 per cent, the steepest intraday fall since April 7, 2025, with the fall led by Persistent Systems, LTIMindtree, and Infosys
Improved policy optics could encourage US enterprises to advance discretionary tech spending and GCC expansion, even though immediate revenue or margin acceleration for IT firms is unlikely.
Budget 2026 has proposed a tax holiday till 2047 for IT companies providing cloud services using India-based data centres.
The new campus will create over 1,600 new jobs and will serve as a strategic hub supporting clients across industries in Brazil and Latin America
Analysts anticipate a stronger growth recovery for IT sector in FY27 compared to FY26, driven by an improvement in demand, more stable macro conditions, increased budgetary spending and deal ramp-ups.
Kunal Kamble, technical analyst at Bonanza decodes trading strategies in IT stocks - Infosys, TCS, HCL Technologies, L&T Technology Services and Tata Elxsi post Q3 earnings. Here's what expert says.
Tata Consultancy Services, the IT arm of the Tata Group, has announced an interim dividend as well as a special dividend for its shareholders