NIFTY IT Falls 2% as TCS, Infosys, Wipro Slide; Brokerages Split on Targets

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By Team Kalkine
Feb 13, 2026

Indian IT Stocks Slide as AI Concerns Weigh on Markets

Source: shutterstock

Highlights

NIFTY IT declined 2.01% to 32,495.25, tracking losses in the US technology index.
TCS, Wipro and Infosys each fell over 1.9% in intraday trade and remain down sharply over the past year.
Investec issued “buy” ratings with higher targets, while Ambit maintained “sell” calls with comparatively lower price estimates.

Indian technology shares extended their decline on Friday, mirroring weakness in global markets as concerns over artificial intelligence-led disruption continued to unsettle investors. The NIFTY IT index dropped 2.01% to 32,495.25 in mid-morning trade on February 13, 2026, tracking losses in the NASDAQ-100 Technology Sector index, which fell 2.37% overnight. Large-cap Indian IT stocks remained under pressure even as brokerages released contrasting ratings and target prices.

IT Index Extends Decline Amid Global Tech Weakness

The NIFTY IT index was down 664.95 points at 32,495.25 at 11:48 IST, marking another session of losses for the sector. The weakness followed a 297.44-point decline in the NASDAQ-100 Technology Sector index, which closed at 12,276.29 on February 12.

Market participants cited concerns over rapid advances in artificial intelligence and their potential impact on traditional IT service models as a key factor driving sentiment. The continued global selloff in technology counters added pressure on domestic equities.

Large-Cap IT Stocks Trade Lower

Shares of Tata Consultancy Services Ltd were trading at ₹2,693.00, down ₹57.10 or 2.08% in Friday’s session. The stock has declined 31.13% over the past year.

Wipro Ltd was quoted at ₹214.82, lower by ₹4.26 or 1.94% during the day. On a one-year basis, the stock is down 30.38%.

Meanwhile, Infosys Ltd traded at ₹1,352.90, slipping ₹33.10 or 2.39% in intraday trade. The stock has fallen 26% over the past year.

The decline across these frontline IT companies underscores continued volatility in the sector.

Brokerages Offer Diverging Views

Despite the ongoing fall in share prices, UK-based Investec Bank plc issued a “buy” rating on all three IT majors.

On TCS, Investec set a target price of ₹3,700.
On Wipro, the brokerage assigned a target of ₹294.
On Infosys, it projected a target price of ₹1,730.

In contrast, Ambit Capital Ltd maintained a “sell” stance across the same stocks.

Ambit set a target price of ₹2,975 for TCS.
For Wipro, the brokerage issued a target of ₹227.
On Infosys, it assigned a target price of ₹1,555.

The differing recommendations highlight contrasting assessments of valuation and near-term business conditions within the IT services space.

Technology stocks remain under pressure as global cues and evolving artificial intelligence trends shape investor positioning. While share prices have corrected significantly over the past year, brokerage opinions remain divided, with varying target prices suggesting different expectations for the sector’s trajectory. Market participants will continue to monitor global developments and company-specific updates for further direction.

F&Q

Q1: Why did NIFTY IT fall on February 13, 2026?
The index declined amid continued global weakness in technology stocks and concerns about the impact of artificial intelligence on traditional IT services.

Q2: How have major IT stocks performed over the past year?
TCS is down 31.13%, Wipro has fallen 30.38%, and Infosys has declined 26% over the last 12 months.

Q3: What are the latest target prices issued by brokerages?
Investec set targets of ₹3,700 for TCS, ₹294 for Wipro and ₹1,730 for Infosys, while Ambit assigned targets of ₹2,975, ₹227 and ₹1,555 respectively.

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