Indian IT exporters’ valuations have plummeted to near 2008-09 subprime crisis levels, trading at 15-18 P/E multiples. This sharp decline, driven by AI advancements impacting headcount-based execution and OpenAI’s direct entry into enterprise solutions, has seen stocks lose nearly 30% in 2026. While a weakening rupee offers short-term support, the AI overhang is expected to cap medium-term gains.
Small & midcaps rally! Coforge, Ola Electric, FirstCry & other stocks jump up to 7%
Small and midcap stocks rose sharply on Tuesday, lifting broader markets and outperforming benchmarks. Coforge led midcap gains, while Ola Electric topped the smallcap chart.