2 months ago
1
ITC’s Chairperson and MD Sanjiv Puri dubbed the rout successful the Nifty IT scale “an overreaction” portion speaking connected the sidelines of NASSCOM’s yearly tech acme 2026.
“I don’t cognize wherefore determination is an overreaction. But fto the marketplace bash its work. But the world is that whenever exertion has travel forward, erstwhile applied to the requirements of the market, it has not been doomsday,” Mr. Puri said connected Wednesday (February 25, 2026) successful Mumbai.
The machine to cigaret conglomerate’s tech business, ITC Infotech, was 5% of the ITC radical gross arsenic of H1FY2025, going by information connected banal surface level Screenr.
While speaking connected the possibilities of the usage cases of AI, helium said they are being implemented successful 3 buckets which see improving ratio astatine factories, proviso chian absorption and successful marketing.
Mr. Puri’s comments go important successful the discourse of the rout successful tech stocks a time earlier which is portion of the period agelong underperformance of the Nifty IT index. The contiguous trigger to Tuesday’s 4% diminution successful IT stocks came connected apical of Anthropic’s announcement that it had tools that automised COBOL, a machine programming connection for concern processes. A Newyork-based expert Citriniresearch wrote a blog station modelling a satellite upwind AI had go mainstream successful concern and was spelling that the system would beryllium successful a antithetic equilibrium by 2028. The station spooked investors sparking the sell-off.
