TCS Leads Indian IT’s Best Week Since 2008

Tata Consultancy Services gained 14.33% this week and added ₹1.12 trillion in market value. It closed Friday at ₹2,465 (+4.89%) and was the week’s biggest stock story in a sector rally. The Nifty IT index rose 11.72% in the week, its best since April 2008, and 3.92% on Friday alone. What TCS reported: It cited $9.6 billion in deal wins and said AI now accounts for more than 10% of its revenue. That is the kind of AI-linked growth story investors want to see. A global AI sell-off helped. US inflation data triggered a sell-off in AI stocks on Wednesday: the Nasdaq fell 1.88% that day, Nvidia lost 4.9% between Tuesday and Thursday, and South Korea’s Kospi fell 7.57% on Thursday. Money moved towards Indian software firms. A JP Morgan report in September had called India the natural “AI hedge”. The whole sector gained. The ten IT stocks added about ₹2.75 trillion in value for the week. Tech Mahindra rose 18.22%, Infosys 13.46%, HCL Tech 13.42% and

13.43%. The picture is not all positive. Tech Mahindra and Wipro missed profit estimates, Wipro’s large deal wins fell 58.6%, and HCL Tech narrowed its revenue guidance to 1.6-3.1%. Foreign flows turned on Friday. Foreign investors bought ₹1,166 crore of shares, their first net purchase since September 23, after selling about ₹13,700 crore between October 9 and 15.