TCS CEO K Krithivasan says associates should adopt AI proactively and offer AI-first solutions to clients, even if it cannibalises existing revenue streams
Individually, HCLTech shares were up 3.57 per cent; Infosys, Tech Mahindra, TCS, and Wipro were trading over 2 per cent higher
The IT index decline gathered pace after it broke down from a Head and Shoulders pattern on the weekly chart - a classic signal of a structural trend reversal, explains Sachin Gupta of Choice Broking.
The Nifty IT index has lost over 19 per cent in CY26 as compared to a nearly 2 per cent dip in the Nifty 50 index during this period
According to the shareholding pattern of top Indian IT companies, FIIs have trimmed their stake over the last one year amid growing fear that AI is causing significant disruption
The global research and broking house has cut their earnings estimates by 1-4 per cent across IT firms and expects 6 per cent earnings CAGR over FY26-28.
TCS CEO K Krithivasan said AI will not cause significant job shrinkage in software engineering, noting evolving roles and sustained need for system integration despite rising automation
TCS is rapidly increasing hiring of engineering graduates with specialised AI and digital skills, with high-skill cadres now accounting for 60% of fresher intake as it pursues an AI-first strategy
The Tata Group, Reliance Industries, Larsen & Toubro, and Eternal announced partnerships and pledged investments in artificial intelligence adoptions and growth during the AI Impact Summit in New Delh
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