Mohit Joshi, CEO and managing director of Tech Mahindra, has dismissed fears around Anthropic’s new AI tool, calling the sharp sell-off in IT stocks a market overreaction. He said artificial intelligence represents a technology shift that will ultimately act as a tailwind for IT services and software companies rather than replace them.
This eroded significant investor wealth, as the Infosys market capitalisation plunged by over Rs 54,000 crore, bringing its total market cap down to Rs 6.31 lakh crore, BSE data showed.
The overnight selloff in US technology stocks is likely to spill over into Indian IT shares, putting pressure on the broader market and limiting the upside, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
Meanwhile, on Monday, shares of Infosys slipped 1.85 per cent to close at Rs 1629 on BSE against its previous close of Rs 1659.65 apiece.
Narayana Murthy, his wife Sudha N Murty, son Rohan Murty, daughter Akshata Murty and his grandson Ekagrah Rohan Murty together held 4.06 per cent stake in Infosys.
Choice said Infosys is sharpening its focus on six AI value pools, which position it well to gain market share across AI-led services and solutions.
Infosys target price: PL Capital suggested a target price of Rs 1,900 on the stock. Choice Broking reiterated a Buy rating with a revised target price of Rs 1,865
Nuvama said Infosys has now delivered two consecutive quarters of solid deal-wins and growth, which provide high growth visibility for coming quarters.
While The IT major's profit was hit by provisions for new Labour Codes, its deal wins at $4.8 billion was largely in line with Street estimates of $4.5-5 billion.
Infosys: The IT major's revenue from operations climbed 8.89 per cent to Rs 45,479 crore in Q3 FY26 compared to Rs 41,764 crore in the corresponding period last year.
MFs bought an additional 1.2 crore shares of IndiGo worth Rs 5,800 crore, Nuvama calculated. MFs held 8 crore IndiGo shares at the end of December against 6.8 crore shares at the end of November.





