Shares of Tata Consultancy Services (TCS), India's largest IT services company, surged as much as 7% to Rs 2,457 on the BSE on Tuesday, extending gains for a second straight session. The stock has climbed nearly 9% over the past two trading days, rebounding sharply after months of underperformance amid growing optimism around artificial intelligence.
While analysts continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.
