Shares of information technology companies, including TCS, HCLTech, Infosys and Wipro, have rallied up to 12% over three sessions. The rebound follows a selloff in AI-linked stocks across Asian and US markets, which raised concerns over stretched valuations, concentration risks and the time required for heavy investments in artificial intelligence to generate returns.
The Nifty IT index has gained 8% over the past three sessions, adding Rs 82,500 crore to the sector’s market capitalisation. HCLTech led the gains, rising 12%, followed by TCS at 11% and Tech Mahindra at 10.60%. Infosys and Wipro advanced 9% and 7%, respectively.
