Topic
infosys
Business Indian IT stocks rally as global AI stocks plunge: TCS, Infosys, Wipro lead gains
Indian IT stocks rallied strongly on Wednesday, with TCS, Infosys, Wipro, HCLTech, and Coforge gaining up to 5%, even as global semiconductor and AI stocks tumbled. The rally comes amid growing skepticism about AI spending returns, a shift in investor sentiment from AI to value plays, and positive FPI inflows into Indian equities, according to reports.
Technology Infosys chairman Nandan Nilekani forecasts $300-400 billion AI services opportunity by 2030
Infosys chairman Nandan Nilekani told shareholders that the company sees a $300-$400 billion opportunity in AI-led services by 2030. CEO Salil Parekh noted that AI services account for 5.5% of revenue, an annualised run rate of about $1 billion. Infosys is collaborating with 90% of its top 200 clients on AI initiatives.
Business Indian IT Stocks Crash Rs 1.35 Lakh Cr on Accenture Warning; Analyst Sees Further Downside
Indian IT stocks suffered a massive sell-off on Friday, erasing nearly Rs 1.35 lakh crore in market value, after Accenture's weaker-than-expected outlook reignited fears of AI-driven disruption. The Nifty IT index fell 6%, taking its calendar-year decline to 29%. Brokerages warned of further earnings downgrades and valuation compression for Indian IT firms.
Business Nandan Nilekani: Guiding Infosys Through Leadership Transitions
Nandan Nilekani, at 71, continues to steer Infosys through critical leadership transitions. His tenure has seen the company's revenue grow from $10.9 billion to over $20 billion. As he prepares for his third term, Nilekani faces the challenge of planning for his own succession and that of CEO Salil Parekh.
Business IT Stocks Surge as Investors Reassess AI Impact
Shares of Infosys, TCS, and Tech Mahindra surged as investors reassessed the impact of AI on the IT sector. The Nifty IT index climbed 3%, driven by technical signals and upcoming US Federal Reserve policy decisions.