Infosys, TCS and other IT stocks bleed after Anthropic's new AI tool - Check share price
Infosys, TCS and other IT stocks bleed after Anthropic's new AI tool - Check share price
Shares of Indian IT companies are under pressure following a significant selloff in tech stocks in global markets. Stocks of companies such as Infosys, Tech Mahindra, Wipro, HCL Tech, and Coforge fell amid heightened concerns following the launch of new tools by AI developer Anthropic. Anthropic has launched plug-ins for its Claude Cowork agent ,which is aimed at automating tasks across legal, sales, marketing and data analysis functions. Earlier, American depository receipts (ADRs) of companies such as Infosys plunged 5.56 per cent overnight to USD 17.32. Similarly, Wipro ADRs fell 4.83 per cent to USD 2.56.
Nifty IT Index falls over 5%
Following this update, Nifty IT fell by over 5 per cent. At the time of writing the report, the index was down by 5.76 per cent at 36,388.85.
Infosys share price
Shares of Infosys opened gap down with a loss of 4.51 per cent at Rs 1580.35 against the previous close of Rs 1,654.95 on the BSE. It later fell amid selling pressure to touch the low of Rs 1,534.05. Last seen, the stock was trading at Rs 1,536.10 with a dip of 7.18 per cent and the market cap of the company stood at Rs 6,38,718.93 crore.
Tata Consultancy Services
Stock of Tata Consultancy Services (TCS) opened at Rs 3,122 against the previous close of Rs 3,223.70. Later, it touched a low of Rs 3,031.80. As of last seen, the stock was trading at Rs 3,048.80 with a fall of Rs 174.90, and the market cap of the company stood at Rs 11,03,914.68 crore.
Wipro share price
Shares of Wipro opened gap down with a loss of 3.09 per cent at Rs 234.95 against the previous close of Rs 242.45 on the BSE. Later, the stock touched the intraday high and low of Rs 236 and Rs 226.50. At the time of writing the report, the stock was trading at Rs 233 with a dip of 3.90 per cent and the market cap of the company stood at Rs 2,44,351.73 crore.
Shares of other tech companies like MphasiS Limited, LTIMindtree Limited, and Persistent Systems were down by 7.07 per cent, 6.95 per cent and 6.70 per cent, respectively.
ALSO READ | Forgot money in your old bank account? Here's how you can claim it back in few minutes
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)