Rs 19 lakh crore shocker! TCS, Infosys & 2 IT giants crash 50% from peak: Is the absolute worst yet to come?

India's top IT stocks have seen massive wealth erosion of around Rs 19 lakh crore from peaks, with TCS down about 56 percent (from Rs 4,592 to Rs 2,033), Wipro down 54 percent, LTIMindtree down 53 percent, and Infosys down nearly 50 percent. TCS alone has lost over Rs 9.12 lakh crore in market cap, while HCL Tech has fallen 47 percent, Persistent Systems 36 percent, Mphasis 41 percent, and Tech Mahindra 24 percent from recent highs. The selloff is driven by Accenture's weak guidance (3-4 percent fiscal 2026 revenue growth), US macro stress including hawkish Fed expectations, and existential threats from generative AI automating traditional IT services, leading analysts to warn of further earnings downgrades and slower deal-to-revenue conversion over the next 12-24 months.