The IT index gained 0.8% and closed at record levels while the benchmark Nifty closed marginally lower. LTI Mindtree and Mphasis gained 3% and 2.4% respectively. Persistent Systems, HCL Technologies, Wipro and Infosys advanced over 1% each. Out of the 10 stocks in the IT Index, 8 advanced while 2 declined on Tuesday.
AI may hurt IT today, but it could create the sector’s next growth engine: Baroda BNP Paribas MF
AI may disrupt traditional revenue streams in India’s $280-billion IT services industry, but Rohan Korde of Baroda BNP Paribas Mutual Fund believes it could also