AI slowdown call lifts Indian IT stocks, adds ₹1.13L cr
Indian IT companies had a big day on Tuesday, with stocks like HCL Tech and Tech Mahindra climbing 5% and others like Infosys, LTIMindtree, and TCS not far behind.
This rally came after top AI players called for slowing down AI development to tackle safety concerns, which eased concerns about disruption to traditional software services.
The Nifty IT Index shot up 5%, adding ₹1.13 lakh crore in value.
AI infrastructure stocks take hit
With fresh worries about unchecked AI fading a bit, investors are shifting their bets from infrastructure firms to more traditional software companies.
Stocks tied to AI infrastructure, like TD Power and Sterlite Technologies, took a hit as the spotlight moved.
For India's big software names, this slower pace of AI means they get more time to adapt and stay in the game as tech keeps evolving.