TCS, Infosys, other IT stocks crash up to 7% after 3-day rally. What top brokerages are saying?

June 3, 2026

IT stocks, including TCS, Infosys, HCL Tech, Wipro and Tech Mahindra, fell sharply on Wednesday, following a three-day rally. Despite AI-related disruption concerns, brokerages such as CLSA, Nuvama and Choice Institutional Equities remain optimistic, citing resilient earnings, strong order books and expanding enterprise AI opportunities.

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ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong

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