Thus far in the calendar year 2026, TCS's market price plunged 23 per cent, as against 7.4 per cent decline in Nifty 50, data shows. The NIfty IT index lost over 1 per cent in trade on Tuesday.
Ambuja Cements, DLF, Dixon, Gail, Indian Hotels, Shree Cement, REC, Tata Motors PV, Wipro, Suzlon, Coforge, and Info Edge, among the BSE 100 index, also hit their respective 52-week lows amid Iran war
"We are having discussions with multiple other hyperscalers," said Chief Executive Officer K Krithivasan during an interview at the company's offices in London.
IT stocks outperformed the market on Wednesday as rupee breached the 92 per dollar-mark. Shares of Infosys, TCS, HCL Tech gained amid the market crash
Earlier this week, Jefferies downgraded Indian IT companies Infosys, HCLTech and MphasiS to 'hold'; LTIMindtree, TCS and Hexaware to 'underperform'.
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.