The Economic Times

Infosys, HCLTech, TCS, other IT stocks fall up to 3% as Anthropic delivers new shock

IT stocks like TCS, Infosys, and HCL Technologies experienced significant selling pressure following Anthropic's announcement of its Claude Code tool. This AI tool can reportedly modernize legacy COBOL systems, a key business area for IBM, raising concerns about AI's potential to disrupt traditional IT services and impact profitability.