Infosys, TCS, HCL Tech Shares Plunge 4-7%; Nifty IT Dips Over 5% on Anthropic Tool Fears

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Nifty IT Index Crashes 5% Amid AI Disruption Fears; TCS, Infosys Lead Losses

IT shares crash today

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Moneycontrol•24-02-2026, 13:01

Nifty IT Index Crashes 5% Amid AI Disruption Fears; TCS, Infosys Lead Losses

•Nifty IT index plunged over 5% for the fifth consecutive session due to fears of AI-led disruption.
•Anthropic's claims about its Claude Code tools reducing software modernization costs fueled investor anxiety.
•Tech Mahindra, HCL Technologies, Infosys, TCS, and Wipro were among the top losers.
•Jefferies downgraded several IT stocks, warning of a structural shift towards consulting and implementation due to AI.
•CLSA, however, believes AI disruption fears are overdone, seeing AI as a productivity tool rather than a replacement.

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