Shares of information technology companies, including TCS, Infosys, Tech Mahindra, Wipro and HCL Tech fell as much as 4.5% after a string of strong earnings from global AI-focused companies renewed confidence in artificial intelligence spending and cloud demand, easing concerns that massive investments in AI were failing to deliver adequate returns.
TCS, India’s largest IT company, declined over 4% to Rs 2,330 on the BSE. Infosys shares also dipped over 4% to Rs 1,107, while HCL Tech plunged 4.5% to Rs 1,293. Wipro declined 3.3% to Rs 180 per share, while Tech Mahindra traded 3.5% lower at Rs 1,610. Midcap IT stocks Coforge and Persistent Systems declined up to 3%.
