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Why HCL Tech Shares Got Hammered Today

Feb 24, 2026

Why HCL Tech Shares Got Hammered TodayImage source: KanawatTH/www.istockphoto.com

Indian markets saw a weak opening in trade today, with the Sensex down over 900 points and the Nifty down over 250 points.

Nifty IT was the top loser in trade, with Nifty IT down 4.7%.

Amid This one stock that is in focus today is HCL Technologies'. The stock tumbled over 5% in trade today.

HCL Technologies' performance has been challenging. The stock has remained under sustained pressure throughout the month. It has declined nearly 22% in the last month.

At the current level of Rs 1,343, it is trading 25% below its 52-week high.

Here is why stock is falling.

#1 Anthropic AI Fear

Anthropic AI released a new update on Monday, which could reduce the need for COBOL (Common Business-Oriented Language). This was mostly used by consulting firms.

Following the release, IBM's share price declined 13% in trade on fears that Anthropic could perform complex coding & consulting work.

This development raised concerns about the potential reduction in demand for traditional IT services across the sector.

As a result, HCL Tech, along with other IT heavyweights like Infosys, TCS, Wipro, Mphasis, and Persistent Systems, saw their stock prices decline, reflecting broader fears over the impact of automation on revenue streams.

What Next?

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