Indian IT stocks witnessed a sharp rise on Wednesday as a global anti-AI trade drove investors toward safer technology names. Analysts say fading enthusiasm for AI stocks could boost FPI flows into India, while Infosys also drew attention ahead of its Rs 18,000-crore share buyback opening Thursday.
Tenneco Clean Air India made a strong market debut with a 27% listing premium before slipping nearly 5% as early profit-taking set in. Analysts cite strong parentage, technological capability, and margin strength, but advise caution given sector cyclicality. Experts suggest partial profit-booking while holding the remainder with a stop-loss near Rs 480.
LG Electronics India shares saw an uptick on Wednesday after Morgan Stanley initiated coverage on the stock with an overweight rating, highlighting strong margins, capital efficiency, and growth potential from new manufacturing, exports, and B2B operations. While near-term FY26 earnings may dip, medium-term expansion and localisation efforts are expected to drive revenue, margins, and steady earnings growth through FY28, the brokerage said.
Tata Steel shares saw a slight increase after strong September quarter results. The company reported significant profit growth year-on-year and quarter-on-quarter. Revenue also climbed, indicating improved operations. Analysts maintain a positive long-term view, reiterating a 'BUY' rating with a target price suggesting potential upside. Technical indicators show neutral momentum with some short-term weakness.
Infosys shares jumped 3% to Rs 1,531 on 19 November as the company announced its Rs 18,000 crore buyback opening on 20 November. The tender offer allows repurchase at Rs 1,800 per share, with entitlements set for small and other shareholders. The process closes on 26 November, marking Infosys first tender buyback since 2017.
