Tata Consultancy Services
Shares of IT giant Tata Consultancy Services (TCS) fell more than 5% in intra-day trade on Thursday, February 12, 2026, reaching a 52-week low of ₹ 2,752.75. The impact of the ongoing global selloff in tech stocks regarding AI (Artificial Intelligence) was also visible on TCS. This is the first time since December 2020 that the company’s market cap slipped below ₹10 lakh crore. Till the time of writing the news, the market capitalization of TCS was around ₹ 9.97 lakh crore.
On the same day, private bank ICICI Bank left TCS behind and became India’s fifth largest company in terms of market cap. A day earlier, SBI had also overtaken TCS and reached the fourth position. The market cap of ICICI Bank stood at ₹10.09 lakh crore. Reliance Industries remains the most valuable company in the country with ₹19.7 lakh crore, followed by HDFC Bank and Bharti Airtel.
What was the reason for the decline?
The job report for January in America was better than expected and the unemployment rate came down to 4.3%. This indicated that the US economy is strong and the Federal Reserve will not cut interest rates soon. The strong data strengthened the dollar and weakened investors’ expectations of a rate cut.
Tech stocks also declined on Wall Street. Big stocks like Microsoft and Alphabet fell, which increased the pressure on the IT sector. In India, Nifty IT index fell by more than 4% and stocks like Infosys, HCL Tech, Tech Mahindra, Coforge and Persistent Systems also fell by more than 4%.
Should you buy IT shares now?
Prannoy Agarwal, CEO of Stoxkart, believes that the recent fall in IT stocks is more emotional and not fundamental weakness. According to him, AI will definitely challenge the traditional outsourcing model, but it will also create new opportunities such as AI implementation, cloud, cyber security and digital transformation.
He says that the Indian IT sector is not weak but is moving towards changing itself with time. The growth of the industry is estimated to be 67%, which is being supported by the increasing demand for digital and specialized skills.
