Business•Economic Times•Jun 1
Infosys, Tech Mahindra, TCS and other IT stocks jump up to 5%. What’s driving the rally?
Shares of Indian IT companies, including heavyweights Infosys, Tech Mahindra, TCS and Persistent Systems jumped up to 5% on Monday as multiple tailwinds boosted investor sentiment, pushing the Nifty IT index up around 3% to emerge as the top sectoral gainer. The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. On the downside, a breach below 28,800 could once again invite selling pressure across the Nifty IT index and associated IT stocks, potentially weakening the ongoing recovery structure,” he said.
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