The Hindu Business Line .
Nifty IT index plunged 21% in February, eroding LIC and mutual fund IT holdings by 20%, losing ₹81,000 crore and ₹45,000 crore respectively.
Infosys, TCS, HCL, and mid-tier IT firms like Coforge and KPIT dropped sharply on AI fears, with HSBC forecasting 14-16% sector revenue deflation.