Nifty IT Surges 3% as CLSA Rejects AI Threat to Indian IT Companies; Infosys, TCS, HCL Tech Lead Gains
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CLSA Dismisses AI Threat to IT Firms, Nifty IT Jumps 3%; Infosys, TCS Lead Gains
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Moneycontrol•18-03-2026, 16:25
CLSA Dismisses AI Threat to IT Firms, Nifty IT Jumps 3%; Infosys, TCS Lead Gains
•CLSA dismisses concerns over AI-led disruption in Indian IT services, finding no evidence of pricing pressure in client renewals.
•Nifty IT index surged nearly 3% following CLSA's positive outlook, with Infosys, TCS, HCL Tech, and Tech Mahindra among top gainers.
•Brokerage discussions with major IT firms revealed strong deal pipelines despite minor delays in client decision-making due to AI assessment and Middle East crisis.
•CLSA notes Indian IT firms have low single-digit revenue exposure to the Middle East, limiting immediate impact from geopolitical events.
•Sector valuations have corrected to their 10-year average, making them attractive; Persistent Systems and Coforge are high-conviction picks.
