VERIFIEDMint Markets·3 Jun 2026negative

TCS, Infosys to Coforge: IT stocks crash up to 8% after three-day rally; what's behind the selloff?

AI Summary

·IT stocks experienced a sharp decline, with some falling up to 8% after a three-day rally.
·Analysts attribute the selloff to profit-booking and concerns about the impact of AI on traditional business models.
·High valuations in a low-growth environment have also led to reduced foreign institutional investor interest.