Indian IT Firms Weather AI Scare Selloff
Investors are buying Indian IT stocks after a selloff triggered by Anthropic's release of a tool, with a gauge including Tata Consultancy Services and Infosys shedding about $56 billion and the NSE Nifty IT Index sliding roughly 15% this month. HSBC and JPMorgan analysts, plus asset managers like PPFAS, say firms can adapt—citing TCS's $1.8 billion annualized AI revenue and strong cash positions—suggesting potential for a rebound.
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Sources
- Read Original‘AIs scare trade’ tests resilience of India’s IT stocksthehindubusinessline.com
