Mayuresh Joshi Explains IT Selloff: Infosys, TCS & Tech Mahindra Fall After Accenture Guidance Shock

Indian IT stocks came under intense pressure after Accenture's latest guidance triggered concerns about growth prospects and AI-led disruption across the sector. The Nifty IT index plunged more than 5%, with Infosys, TCS, and Tech Mahindra leading the losses. Despite ongoing investments in artificial intelligence and digital transformation initiatives by major IT companies, investors remain cautious about near-term revenue growth. During a discussion on the market reaction, Mayuresh Joshi, Head of Equity Research at William O'Neil India, highlighted that while companies are making earnest efforts to capture opportunities in the AI space, the transition is likely to be time-consuming. He noted that concerns over missing growth vectors and evolving AI business models are weighing heavily on sentiment across the IT sector.