Indian information technology shares rose 11.72% during the week ending 16 October, their strongest weekly performance since April 2008, Business Standard reported early on 17 October. The rally came while global shares associated with artificial intelligence were under pressure.
Tech Mahindra gained 8.48% on Friday and 18.22% over the week. The report linked investor interest to company earnings and a shift toward Indian software services businesses that had participated less in the earlier global AI rally.
The weekly comparison describes share-price performance, not an equivalent increase in company profits. Reported reasons for investors’ positioning remain analysis and do not establish that the sector will continue rising.