The combined market valuation of six of the top 10 valued firms eroded by more than Rs 3 lakh crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards amid a bearish trend in equities ... .
The market valuation of TCS tumbled Rs 90,198 crore to Rs 9,74,043 crore, while Infosys' valuation eroded by Rs 70,780 crore to Rs 5,55,287 crore ... .
The market panic began after AI startup Anthropic released 11 open-source plugins for its Claude Cowork tool last month, triggering a widespread sell-off in software-as-a-service stocks ...Recently, TCS dropped to its lowest level since September 2020.
Stock market crash. Amid a sell-off in US tech stocks, Indian IT majors such as TCS and Infosys recorded significant losses, raising concerns about potential layoffs and weakened balance sheets ....
The brokerage said IT services firms will continue to play a critical role as the "plumbers of the technology world", even as agentic AI expands its ability to write more software and automate complex... .