The Nifty IT index has underperformed in September, falling over 11%, as against a 6% decline in the Nifty 50.
ACC, Ambuja Cements, India Cements, Bank of Baroda, CESC, Britannia, Crompton Greaves Consumer, Havells, REC, PFC and UPL among others from the Nifty 500 index also touched 52-week lows on Monday.
18 of the 50 Nifty stocks are trading more than 20 per cent below their respective 52-week highs, with a market cap erosion of ₹31.35 lakh crore in the same period.
Motherson Sumi Wiring India, India Cements, Wipro, Tata Elxsi, UPL, NSDL and Zensar Technologies were few of the other notable BSE 500 stocks that hit 52-week lows on Friday.
Wipro has reportedly delayed permanent onboarding for at least 400 WILP trainees, some of whom may now spend more than five years in the programme before becoming full-time staff
The comments come as India's $315 billion software services industry grapples with adoption of AI, which is reshaping hiring, software development and contracts
Stocks to watch: ICICI Pru AMC, Meesho, Wipro, Shakti Pumps, Hindustan Zinc, Sun Pharma, Bank of Baroda, Axis Bank, MCX, among others, will be in focus today.
Wipro CTO Sandhya Arun says scale, advantage, trust and adoption need to align for enterprises to derive meaningful value from artificial intelligence
So far this month, the IT index remains unchanged. In July, it recorded its best gain in six months following a 17 per cent rise.
Stocks to watch today: IT services major HCLTech said it had collaborated with chemicals and biotechnology company Wacker Chemie to set up its global capability centre (GCC) in Pune.
The company has launched dry dog food combining kibble with freeze-dried chicken chunks as packaged pet food penetration remains at just 7 per cent among pet parents in India
Wipro has added an AI agent to its skilling platform for over 240,000 associates, with personalised course recommendations based on roles, skills and past learning
IT Q1FY27 review: As per MOFSL, revenue growth in Q1 was led by Tier-2 pack IT services companies. Tier-1 players grew 0.4 per cent Q-o-Q CC, while Tier-2 players outperformed with 1.8 per cent growth
To acquire the remaining 40% stake over the next three years
In the past one week, Nifty IT index has corrected 4.8 per cent, compared to 1.2 per cent decline in the Nifty 50.
Large contracts are supporting deal values at Indian IT firms, but weaker discretionary spending and AI-led pricing pressure are squeezing the flow of smaller projects
Indian firms cut fresh visa registrations as extensions, transfers, and local hiring gain ground
NITES said the affected students and engineers received offer letters in July 2025 and completed subsequent recruitment requirements but are yet to get joining dates.
IT stocks in demand: Tata Consultancy Services (TCS), Tech Mahindra, LTM, HCL Technologies and Mphasis gain 3 per cent each in intra-day deals on Friday.
The Nifty IT pack rebounded with an 18.4 per cent rise this month. Before this, Nifty IT's best show was in June 2020 when it rose 22.5 per cent.