Indian IT giants—TCS, Infosys, Wipro, and HCL Tech—have once again taken over Google searches amid heightened uncertainties. These terms were the most searched in the last 7 days. However, on February 25, tech stocks saw some rebound as the Nifty IT Index rallied over 3% intra-day before closing up 1.5%.
Nifty IT Index sees sharp swings
Technology stocks have seen significant battering in February on concerns about AI-led disruption. The index is down over 20% in the last month and saw some recovery on February 25. This volatility has majorly been caused by fears of advanced AI tools taking over traditional business models.
The launch of Anthropic’s Claude Code tool in early February and apprehension about how it disrupts revenue models for IT services companies kept tech stocks on edge.
Top 4 most searched IT stocks on Google
Here are the four most searched Indian IT companies on Google in the last seven days.
1. TCS : The Indian IT major is trending heavily on Google right now, primarily due to a sharp decline witnessed in its share price amid widespread fears of AI disruption in the sector. In recent times, TCS has announced partnerships with a number of AI firms, including OpenAI, ServiceNow, and Advanced Micro Devices, as part of its plan to accelerate AI adoption across enterprises.
Markets fear that increased adoption of AI would lead to job cuts. However, the company’s management, speaking at the AI Summit, remarked that the increased use of artificial intelligence will create more job opportunities in context engineering, cybersecurity, and other areas.
Brokerage firm Jefferies has downgraded TCS to Underperform and slashed the target price to Rs 2,350, implying a downside potential of nearly 33%.
The company’s stock has mostly been trading in the red. Over the past one month, it has declined by nearly 17%. Over the past one year, the stock of TCS has declined by roughly 28%.
2.Wipro: The IT major is trending for the same concerns of AI-led disruptions. However, Wipro’s CTO, in an interview, said that he expects AI to bring in more job opportunities than it displaces, Reuters reported. For Wipro, brokerage firm Jefferies has maintained an Underperform rating and has trimmed the price target to Rs 180, indicating a downside risk of nearly 18%.
Over the past one month, the company’s stock has declined by 14%, while over the past one year, the company’s stock has plunged by nearly 31%.
3.Infosys: The firm announced a collaboration with Anthropic at the India AI Summit for the deployment of AI solutions across telecommunications, financial services, manufacturing, and software development.
The Indian IT sector has been gripped by fears over Anthropic’s Claude model, particularly advancements like Claude Cowork and Claude Code, which are threatening the traditional labour-intensive business model.
The partnership has sparked a debate on whether AI is a threat or an opportunity, with IT sector stocks seeing a recent decline. For Infosys, Jefferies maintains a Hold rating, with the price target reduced to Rs 1,290 (and to $14.31 from $20.82 for its US-listed ADRs). This reflects a reduction of around 31% in the target price.
Over the past one month, the company’s stock has declined by 23%, while over the past one year, the company’s stock has plummeted by 27%.
4. HCL Tech: The company’s CEO, C Vijayakumar, has warned that the Indian technology services industry faces a “painful reinvention” as artificial intelligence reshapes how work is delivered. He further cautioned that the current transition differs from earlier industry shifts, as it will focus on efficiency over headcount growth.
Jefferies has downgraded HCL Tech to a Hold rating, with the target lowered to Rs 1,390, a cut of about 26%.
Over the past one month, the company’s stock has declined by nearly 20%, while over the past one year, the stock has gone down by nearly 16%.