Rs 26,340 crore added in minutes! Why HCL Tech, TCS and other IT stocks rallied up to 7%
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The Economic Times
Times of IndiaRs 26,340 crore added in minutes! Why HCL Tech, TCS and other IT stocks rallied up to 7%
Indian IT stocks rallied up to 7%, with the Nifty IT index gaining 3.3%, as concerns over rising AI investment costs and uncertain returns rattled global technology stocks. Broadcom and Intel executives flagged capital constraints, prompting investors to reassess the AI boom. Separately, OpenAI told investors its September annualised revenue was nearly $50 billion, below its earlier indicated figure of $70 billion.
Today, shares of leading IT companies like HCL Tech, TCS, Tech Mahindra, Infosys closed with huge gains.
Indian IT stocks rose on Tuesday. TCS shares rose 7%, while HCL Tech rose more than 5%. Infosys, Wipro, and Tech Mahindra also saw gains. This rise comes amid growing questions about the AI business.
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