India’s ‘AI losers’ just made investors richer by Rs 2.6 lakh crore & nobody saw the boom coming
Dismissed as “AI losers” amid three years of muted revenue growth, Indian IT stocks are staging a stunning comeback by surging 10% since October and adding Rs 2.6 lakh crore in combined market capitalisation as investors bet the long-awaited AI services inflection point is finally within reach.
Heavyweight Tata Consultancy Services (TCS) shares are up 9% during the period, while Coforge, HCL Tech, LTIMindtree, and Persistent Systems have recorded double-digit gains reaching as high as 31% to mark a remarkable reversal for a sector that underwhelmed for years while global AI hyper-scalers hogged the limelight.
