February IT deal wins hit 5-month high despite tech share slump – AI partnerships gather pace

February was a rough month for the IT sector. IT stocks fell sharply, dragging down the Nifty IT index and the broader Nifty 50. However, the sector had a small positive development as well. A report by BNP Paribas highlighted that deal signings in the global IT services sector reached their highest level in five months in February.

Cognizant leads deal announcements

Among companies, US-based IT services firm Cognizant led the deal wins with three deals in February and French multinational IT firm Capgemini won two deals.