BUZZ-Indian IT stocks rebound after CLSA tempers worries on AI‑related earnings risk

Reuters03-18

BUZZ-Indian IT stocks rebound after CLSA tempers worries on AI‑related earnings risk

** Indian IT stocks .NIFTYIT climb 2.9%, on track to snap six-session losing streak

** The sub‑index has logged eight straight weeks of declines

** CLSA says Indian IT companies are unlikely to face any fresh earnings pressure from AI‑driven deflation, despite the turbulence these tools caused in global tech stocks last month

** IT services demand has stayed resilient through past oil‑driven downturns, with sector valuations now looking attractive relative to 10‑year averages, supported by steady deal pipelines and an improving macro outlook - CLSA

** Lost $22.5 billion in market value in the week ended Feb 6 on growing fears that new AI tools could severely disrupt labour intensive IT outsourcing industry

** U.S. Federal Reserve is widely expected to hold rates when it announces its decision later in the day

** YTD, sub index down 21.6%, more than double than benchmark Nifty 50's .NSEI 9.3% decline

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))

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