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Shares of Infosys, TCS, Wipro, HCLTech and others declined up to 1% amid high volatility in the broader market today.
Sensex rose 638 points to 85,567 and Nifty gained 206 points at 26,172. With today's rally, Sensex has gained 9% and Nifty has risen 10.23% in 2025.
MOFSL said AI services demand could begin to improve from mid-2026 as hardware-led AI capex intensity moderates. The March-April 2026 budget reset period may serve as an initial indicators, it said.
An analyst from Master Capital Services said that Tech Mahindra has confirmed a bullish breakout above its long-standing horizontal resistance, signaling a shift in market structure.
MOFSL’s top picks to play the next AI cycle remained HCL Technologies and Tech Mahindra among large caps, and Hexaware Technologies and Coforge among midcaps.
Asian Paints topped Sensex laggards, falling 4.61% to Rs 2,790.90. Tech Mahindra followed with a 1.99% decline.
The third model on Mahindra’s INGLO pure-electric platform, the Mahindra XEV 9S, is also the most sensible yet. While the BE 6 and XEV 9e drew attention with bold design and heavy tech—and sparked plenty of debate—the XEV 9S takes a more mature, understated route. It delivers the same core strengths of the INGLO architecture but in a familiar, easy-to-accept SUV form.
Mahindra has unveiled its biggest bet in India’s electric SUV market, and it is built entirely around space, power, and next-generation tech.
MOFSL’s preferred plays for the next AI upcycle were Hexaware and Coforge in mid-tier names, and HCLTech and Tech Mahindra among large-caps.
The list included Apollo Tyres, Avenue Supermarts (DMart), Indus Towers, ONGC, Persistent Systems, DLF, Power Finance Corporation (PFC), REC, Tech Mahindra, UltraTech Cement and Varun Beverages.





