India’s benchmark indices ended flat amid selling in financial stocks. Individual stocks were active, with XTglobal, Tejas Networks and Sanofi Consumer rallying, Angel One adjusting for stock split, and Home First declining.
Indian IT stocks face sharp corrections amid AI disruption fears. Anand Mahindra advises against extreme AI doomsday predictions. He believes AI will pressure IT firms to adapt, focusing on outcomes and value delivery. While some roles may change, new opportunities in AI integration and governance will emerge.
The Indian rupee closed marginally stronger on Thursday, comforted by strength in regional currencies while elevated demand to buy dollars at the daily reference rate kept gains in check.
An early agenda item for Tata Sons Pvt.’s six board directors when they convened at 11:30 a.m. on Tuesday at Bombay House the group’s storied headquarters was expected to be straightforward: approving a third term for Natarajan Chandrasekaran as chairman.
The crypto market rebounded sharply as Bitcoin jumped 5% to trade near $68,000 on strong ETF inflows. Ethereum and major altcoins also surged, reflecting improved risk appetite and supportive macro cues. Analysts say rising liquidity, short liquidations, and stabilising bond yields are driving the broad-based recovery across digital assets.
Defence stocks such as Hindustan Aeronautics, Bharat Electronics and others gained up to 5% after reports of a potential India–Israel defence pact. The agreement, expected during Prime Minister Narendra Modi’s Tel Aviv visit, may prioritise technology transfer in missile defence and advanced weapon systems.
Shares of XTGlobal Infotech hit the 20% upper circuit at Rs 33.18 on the BSE after the company secured an AI Enablement for Engineering Services contract from a US-based state transportation agency. The six-month engagement is valued at about $796,900. Managing Director Ramarao Atchuta Mullapudi said the win strengthens its transportation vertical and US public sector presence.
An entrepreneurial leap by IIT-Bombay professor Shashikanth Suryanarayanan has turned into a windfall as his stake in Sedemac Mechatronics is valued at nearly Rs 1,000 crore ahead of its IPO. Former students-turned-cofounders are also set to reap significant gains as the deeptech firm heads to the market.
Contrarian investor Ajay Tyagi of UTI AMC remains bullish on Indian IT services, citing historical resilience against technological shifts like AI. He favors leading quick commerce players despite intense competition and sees a positive earnings trend, advocating for private sector banks over PSUs due to their superior return on assets and margin of safety.
The Indian rupee is showing slight strength today, aided by a weaker dollar. However, it continues to lag behind other emerging market currencies this year. Investors are currently favoring global markets with strong tech, export, and commodity sectors, leading to underperformance in Indian equities as well. Analysts anticipate this trend to persist in the near term.
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