Markets Daily India

Contrarians Emerge as India Tech Stocks Slump on AI Disruption Fears

Order flows for remain strong, and valuations are at decadal lows: MRG.

Employees at a call center in Kolkata, India. Photograph: Taylor Weidman/BloombergBloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Alex Gabriel Simon and Subhadip Sircar

February 13, 2026 at 2:45 AM UTC

This article is for subscribers only.

Good morning...

I’m Alex Gabriel Simon, and I cover equities in Mumbai.

Global equities are under pressure on fresh concerns over the impact of artificial intelligence on traditional business models. As the list of sectors under threat from AI keeps growing, some investors are nibbling at shares of Indian software firms. That’s a brave call given that names like Infosys, TCS and Wipro have been hammered by the so-called AI scare trade. The Nifty IT index slid to a 10-month low on Thursday, and later, Infosys’ New York-listed stock plunged nearly 10% amid a broad US selloff. Focus today will be on how these stocks perform in Mumbai trading. Investors will also watch Hindalco, ONGC, and Coal India, which reported earnings post-market. Indian stocks may get attention from global investors over the coming sessions as mainland China and Hong Kong are shut for the Lunar New Year break.