There was a strong rise in the IT sector today, the main reason for which is the positive AI commentary in TCS’s analyst meet. The company’s AI services revenue is $1.5 billion, accounting for about 5 percent of total revenue, and is expected to continue growing rapidly. AI business has shown a strong growth of 16.3 percent on quarterly basis and 38 percent on annual basis. The start of fiscal 2026 in the US markets, low valuations, increasing long positions and weak rupee are also supportive for the sector. Donald Trump’s IT-friendly budget comments have also strengthened the sentiment.
