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Indian IT stocks fell as AI disruption fears spooked investors, Nifty IT index dropped over 9 percent in four sessions, Experts say AI is a productivity tool, not a full replacement

* Indian IT stocks fell as AI disruption fears spooked investors
* Nifty IT index dropped over 9 percent in four sessions
* Experts say AI is a productivity tool, not a full replacement

Indian IT stocks continued to fall amid fears of AI-driven disruption, with the Nifty IT index down 1% and major firms like Infosys dropping over 2%. Analysts say sentiment is driving the decline, but AI may boost productivity and future demand.

shorts/business/infosys-techm-wipro-other-it-stocks-decline-up-to-2-extend-losses-to-4th-day-amid-ai-worries-what-lies-ahead

* Indian IT stocks fell as AI disruption fears spooked investors
* Nifty IT index dropped over 9 percent in four sessions
* Experts say AI is a productivity tool, not a full replacement

The shares of Indian IT companies extended decline on February 16 as worries around artificial intelligence-led disruption in the sector continued to spook investors.

The fall in the share prices pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-it-19.html">Nifty IT index</a> down around 1 percent to 32,360.35 in the morning trading hours of Monday. The index has now fallen more than 9 percent in four consecutive sessions of losses.

After falling around 13 percent in 2025, the index has declined about 15 percent so far in 2026, due to intensifying fears about artificial intelligence-driven disruption that could drag the earnings of software services companies.

Heavyweight Infosys shares fell more than 2 percent to trade at Rs 1,341 apiece. The stock has declined more than 10 percent in the past five days, and over 20 percent in the past one month.

Tech Mahindra shares fell more than 1 percent, while Wipro and LTI Mindtree shares were down nearly 1 percent each, as seen at 11.20 am. Tata Consultancy Services (TCS), HCL Technologies and Mphasis shares were trading in the red with marginal losses, while Coforge and Persistent Systems shares bucked the trend to trade in the green with marginal gains.
<h3><strong>Why are IT stocks falling?</strong></h3>
The sharp decline in IT stocks began earlier this month amid concerns that artificial intelligence can intensify competition after Anthropic's launch of a legal AI tool. Investors remained concerned that AI was creating more competition for software makers, after Anthropic’s launch of a legal tool for its Claude AI chatbot.

Vaqarjaved Khan, Senior Fundamental Analyst at Angel One, said that the weak sentiment was amplified by global tech sector weakness and rupee depreciation, exacerbating FPI outflows.

US job growth unexpectedly increased in January and the unemployment rate fell to 4.3 percent. These signs of labor market stability could give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation.

However, the sharp increase in payrolls was seen in the health sector. According to economists quoted by Reuters, job openings and other indicators pointed to a tepid labor market, adding that job growth remained concentrated in the healthcare and social services industries, which accounted for nearly all the rise in employment.

"The only jobs being filled in January are in health care and social assistance, along with some nonresidential specialty trade contractors probably related to AI facilities, all of which do not guarantee the economy's future success," the report quoted Christopher Rupkey, chief economist at FWDBONDS, as saying. "If you are looking for a job ... you are unlikely to find anything to apply for in today's report,” he added.
<h3><strong>What lies ahead?</strong></h3>
The correction in IT stocks shows that the market is worried as many investors believe AI is now ready to replace engineers, especially in India’s IT services sector, said Darshan Rathod, COO, MULTYFI. “In my view, this reaction is more emotional than rational,” he added.

Pranav Koomar, Founder and CEO of PlusCash, also said that the sharp weakness seen in the IT stocks today is more of a sentiment correction rather than fundamental weakness. The fears of advanced AI platforms potentially leading to a compression of traditional services revenue models have seen widespread selling, especially in the large caps, he said.

“Yes, AI tools today can write code, fix bugs, and deploy systems faster than ever before. Naturally, investors are questioning whether companies will need fewer engineers in the future. If manpower reduces, cost structures change. And when cost structures change, stock valuations react. But we must separate fear from facts,” said Rathod.

According to him, AI is extremely powerful but mainly as a productivity tool. It helps engineers work faster and more efficiently, as it reduces repetitive tasks. For IT firms, this can improve margins, according to him.

The analyst believes that AI cannot take responsibility. Large global corporations operate on complex, old, and highly customized systems. These systems require human judgment, business understanding, and accountability, and an algorithm cannot be held legally responsible if something fails, he said.

“From my perspective, this is not the end of the IT services story. It is a transition phase. There is also an important economic angle. When something becomes cheaper and more efficient, demand usually increases. If AI makes software development faster and more affordable, more companies across sectors may invest in digital transformation. That could actually expand the total opportunity size for IT firms,” Rathod said, explaining that the real change now is not about replacement, but adaptation as engineers who learn to work with AI will remain valuable, while those who ignore may struggle.

Koomar said that although new-age innovative applications will change the traditional approach to AI, Indian IT companies have healthy deal pipelines and established relationships with global clients. “For the short term, the stocks may face some more volatility as markets recalibrate pricing, but companies that are clear with their AI integration and digital transformation services are more likely to bounce back and drive the next leg of growth,” he said.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-positive-start-us-asian-markets-mixed-liveblog-13829091.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Infosys, TechM, Wipro, other IT stocks decline up to 2%, extend losses to 4th day amid AI worries: What lies ahead?

The shares of Indian IT companies extended decline on February 16 as worries around artificial intelligence-led disruption in the sector continued to spook investors.

The fall in the share prices pushed the Nifty IT index down around 1 percent to 32,360.35 in the morning trading hours of Monday. The index has now fallen more than 9 percent in four consecutive sessions of losses.

After falling around 13 percent in 2025, the index has declined about 15 percent so far in 2026, due to intensifying fears about artificial intelligence-driven disruption that could drag the earnings of software services companies.

Heavyweight Infosys shares fell more than 2 percent to trade at Rs 1,341 apiece. The stock has declined more than 10 percent in the past five days, and over 20 percent in the past one month.

Tech Mahindra shares fell more than 1 percent, while Wipro and LTI Mindtree shares were down nearly 1 percent each, as seen at 11.20 am. Tata Consultancy Services (TCS), HCL Technologies and Mphasis shares were trading in the red with marginal losses, while Coforge and Persistent Systems shares bucked the trend to trade in the green with marginal gains.
Why are IT stocks falling?
The sharp decline in IT stocks began earlier this month amid concerns that artificial intelligence can intensify competition after Anthropic's launch of a legal AI tool. Investors remained concerned that AI was creating more competition for software makers, after Anthropic’s launch of a legal tool for its Claude AI chatbot.

Vaqarjaved Khan, Senior Fundamental Analyst at Angel One, said that the weak sentiment was amplified by global tech sector weakness and rupee depreciation, exacerbating FPI outflows.

US job growth unexpectedly increased in January and the unemployment rate fell to 4.3 percent. These signs of labor market stability could give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation.

However, the sharp increase in payrolls was seen in the health sector. According to economists quoted by Reuters, job openings and other indicators pointed to a tepid labor market, adding that job growth remained concentrated in the healthcare and social services industries, which accounted for nearly all the rise in employment.

&quot;The only jobs being filled in January are in health care and social assistance, along with some nonresidential specialty trade contractors probably related to AI facilities, all of which do not guarantee the economy's future success,&quot; the report quoted Christopher Rupkey, chief economist at FWDBONDS, as saying. &quot;If you are looking for a job ... you are unlikely to find anything to apply for in today's report,” he added.
What lies ahead?
The correction in IT stocks shows that the market is worried as many investors believe AI is now ready to replace engineers, especially in India’s IT services sector, said Darshan Rathod, COO, MULTYFI. “In my view, this reaction is more emotional than rational,” he added.

Pranav Koomar, Founder and CEO of PlusCash, also said that the sharp weakness seen in the IT stocks today is more of a sentiment correction rather than fundamental weakness. The fears of advanced AI platforms potentially leading to a compression of traditional services revenue models have seen widespread selling, especially in the large caps, he said.

“Yes, AI tools today can write code, fix bugs, and deploy systems faster than ever before. Naturally, investors are questioning whether companies will need fewer engineers in the future. If manpower reduces, cost structures change. And when cost structures change, stock valuations react. But we must separate fear from facts,” said Rathod.

According to him, AI is extremely powerful but mainly as a productivity tool. It helps engineers work faster and more efficiently, as it reduces repetitive tasks. For IT firms, this can improve margins, according to him.

The analyst believes that AI cannot take responsibility. Large global corporations operate on complex, old, and highly customized systems. These systems require human judgment, business understanding, and accountability, and an algorithm cannot be held legally responsible if something fails, he said.

“From my perspective, this is not the end of the IT services story. It is a transition phase. There is also an important economic angle. When something becomes cheaper and more efficient, demand usually increases. If AI makes software development faster and more affordable, more companies across sectors may invest in digital transformation. That could actually expand the total opportunity size for IT firms,” Rathod said, explaining that the real change now is not about replacement, but adaptation as engineers who learn to work with AI will remain valuable, while those who ignore may struggle.

Koomar said that although new-age innovative applications will change the traditional approach to AI, Indian IT companies have healthy deal pipelines and established relationships with global clients. “For the short term, the stocks may face some more volatility as markets recalibrate pricing, but companies that are clear with their AI integration and digital transformation services are more likely to bounce back and drive the next leg of growth,” he said.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Ola Electric shares hit all-time low, falling below Rs 30 mark, Q3 revenue drops 55 percent YoY, deliveries down 61 percent, Brokerages downgrade stock, cut target price to Rs 20 per share

* Ola Electric shares hit all-time low, falling below Rs 30 mark
* Q3 revenue drops 55 percent YoY, deliveries down 61 percent
* Brokerages downgrade stock, cut target price to Rs 20 per share

Ola Electric shares fell nearly 7%, hitting an all-time low after weak Q3 results. Revenue dropped 55% YoY, deliveries declined 61%, and brokerages downgraded the stock, citing ongoing losses and market share erosion, with target prices cut to Rs 20.

shorts/business/ola-electric-shares-tumble-7-to-all-time-low-after-q3-revenue-more-than-halves-brokerages-see-up-to-35-downside

* Ola Electric shares hit all-time low, falling below Rs 30 mark
* Q3 revenue drops 55 percent YoY, deliveries down 61 percent
* Brokerages downgrade stock, cut target price to Rs 20 per share

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/auto-ancillaries-brakes/olaelectricmobility/OEM">Ola Electric Mobility</a> tumbled nearly 7 percent on February 16 after the company released its results for the October-December quarter of the ongoing financial year 2026. Some brokerages have downgraded the stock, while some reduced their target prices.

The shares of the EV scooter-maker dropped to an all-time low of Rs 28.81 apiece on Monday. This marks the first time the stock has fallen below the Rs 30-mark.

It is currently down more than 62 percent from its IPO price of Rs 76 apiece, and around 82 percent lower than its all-time high of Rs 157.40 apiece which it had hit in August 2024 after debut.
<h3><strong>Ola Electric Q3 Results:</strong></h3>
Ola Electric on February 13 reported <a href="https://www.moneycontrol.com/news/business/earnings/ola-electric-q3-revenue-falls-55-yoy-to-rs-470-crore-net-loss-narrows-to-rs-487-crore-13827724.html">consolidated revenue from operations at Rs 470 crore</a> for Q3 FY26. This marks a 55 percent year-on-year (YoY) fall from the Rs 1,045 crore revenue from operations reported in the same period of the previous financial year.

Net loss however narrowed to Rs 487 crore during the quarter under review, as against a net loss of Rs 564 crore in the year-ago period.

Deliveries declined 61 percent YoY to 32,680 units in Q3 FY26, compared with 84,029 units a year earlier. Adjusted operating EBITDA loss narrowed 34.6 percent to Rs 323 crore.
<h3><strong>Emkay Global on Ola Electric:</strong></h3>
Emkay Global downgraded the shares of Ola Electric to ‘Sell’ from ‘Buy’, and cut its target price to Rs 20 apiece from Rs 50 apiece. The latest target price implies a downside potential of more than 35 percent from the stock’s previous closing price of Rs 30.89 apiece.

According to the brokerage note cited by CNBC-TV18, Emkay’s analysts highlighted that Ola logged a weak third quarter, although its underlying electric two-wheeler theme remains strong.

It added that the industry is witnessing a healthy growth, with a revival in penetration following a brief dip after the GST rat cuts. It noted that Ola saw consistent volume fall to 32,000 units in Q3 FY26, along with market share loss.

Emkay, as quoted by the report, said that this could be a difficult, long-drawn process for Ola, especially amid greater focus from incumbents and scale-up at Ather.
<h3><strong>Kotak Securities on Ola Electric:</strong></h3>
Kotak Securities also kept a ‘Sell’ call on the stock, with a target price of Rs 20 per share. The domestic brokerage said that Ola Electric’s results were below expectations, and volume growth saw no pick up.

It added that the company is already showing visible strain, and may see a full blown crisis ahead. It expects Ola to see big net losses and net worth erosion in FY26-FY28.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-positive-start-us-asian-markets-mixed-liveblog-13829091.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Ola Electric shares tumble 7% to all-time low after Q3 revenue more than halves; brokerages see up to 35% downside

The shares of Ola Electric Mobility tumbled nearly 7 percent on February 16 after the company released its results for the October-December quarter of the ongoing financial year 2026. Some brokerages have downgraded the stock, while some reduced their target prices.

The shares of the EV scooter-maker dropped to an all-time low of Rs 28.81 apiece on Monday. This marks the first time the stock has fallen below the Rs 30-mark.

It is currently down more than 62 percent from its IPO price of Rs 76 apiece, and around 82 percent lower than its all-time high of Rs 157.40 apiece which it had hit in August 2024 after debut.
Ola Electric Q3 Results:
Ola Electric on February 13 reported consolidated revenue from operations at Rs 470 crore for Q3 FY26. This marks a 55 percent year-on-year (YoY) fall from the Rs 1,045 crore revenue from operations reported in the same period of the previous financial year.

Net loss however narrowed to Rs 487 crore during the quarter under review, as against a net loss of Rs 564 crore in the year-ago period.

Deliveries declined 61 percent YoY to 32,680 units in Q3 FY26, compared with 84,029 units a year earlier. Adjusted operating EBITDA loss narrowed 34.6 percent to Rs 323 crore.
Emkay Global on Ola Electric:
Emkay Global downgraded the shares of Ola Electric to ‘Sell’ from ‘Buy’, and cut its target price to Rs 20 apiece from Rs 50 apiece. The latest target price implies a downside potential of more than 35 percent from the stock’s previous closing price of Rs 30.89 apiece.

According to the brokerage note cited by CNBC-TV18, Emkay’s analysts highlighted that Ola logged a weak third quarter, although its underlying electric two-wheeler theme remains strong.

It added that the industry is witnessing a healthy growth, with a revival in penetration following a brief dip after the GST rat cuts. It noted that Ola saw consistent volume fall to 32,000 units in Q3 FY26, along with market share loss.

Emkay, as quoted by the report, said that this could be a difficult, long-drawn process for Ola, especially amid greater focus from incumbents and scale-up at Ather.
Kotak Securities on Ola Electric:
Kotak Securities also kept a ‘Sell’ call on the stock, with a target price of Rs 20 per share. The domestic brokerage said that Ola Electric’s results were below expectations, and volume growth saw no pick up.

It added that the company is already showing visible strain, and may see a full blown crisis ahead. It expects Ola to see big net losses and net worth erosion in FY26-FY28.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Kwality Wall's India lists on NSE after demerger from HUL, HUL shareholders received 1:1 shares in the ice cream business, Kwality Wall's to be included in Nifty 50 index from December 5

* Kwality Wall's India lists on NSE after demerger from HUL
* HUL shareholders received 1:1 shares in the ice cream business
* Kwality Wall's to be included in Nifty 50 index from December 5

Kwality Wall's India debuted on NSE after demerging from Hindustan Unilever, with HUL shareholders receiving a 1:1 share ratio. The ice cream business, valued at up to Rs 11,900 crore, was added to the Nifty 50 index from December 5.

shorts/business/kwality-wall-s-shares-list-at-26-discount-after-demerger-from-hindustan-unilever

* Kwality Wall's India lists on NSE after demerger from HUL
* HUL shareholders received 1:1 shares in the ice cream business
* Kwality Wall's to be included in Nifty 50 index from December 5

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/consumer-food/kwalitywallsindia/KWI">Kwality Wall's (India)</a> made their much-anticipated market debut on February 16, listing at Rs 29.80 apiece on NSE. This marks a discount of 25.87 percent over the indicative price of Rs 40.20 apiece.

The stock debuted with a market capitalisation of Rs 7,001.78 crore. This comes after the ice cream business was demerged from FMCG major Hindustan Unilever (HUL).

The shares of the HUL <a href="https://www.moneycontrol.com/news/business/markets/hul-stock-adjusts-to-rs-2-422-after-kwality-wall-s-ice-cream-business-spin-off-13711793.html">adjusted to the demerger in December</a> last year, opening at Rs 2,422 apiece on NSE on December 5. This marked a fall of nearly 2 percent (Rs 40.2 apiece) from the previous closing price of Rs 2,462.20 apiece.
<h3><strong>About HUL-Kwality Wall's demerger:</strong></h3>
Earlier in November 2024, <a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/hindustanunilever/HU">HUL</a> approved the demerger of the ice cream business, which operates popular brands including 'Kwality Wall's', 'Cornetto' and 'Magnum'. National Company Law Tribunal (NCLT) approved the demerger scheme on October 30.

The ice cream business forms 3 percent of HUL's total yearly turnover, contributing Rs 1,800 crore to the total revenue.

ICICI securities said that the ice cream business will likely be valued at Rs 9,500 crore ($1.06 billion) to Rs 11,900 crore. It values per share of the upcoming demerged entity at Rs 40-50.
<h3><strong>Demerger ratio:</strong></h3>
The <a href="https://www.moneycontrol.com/news/business/markets/kwality-wall-s-to-start-trading-on-bse-nse-from-february-16-13827868.html">share entitlement ratio</a> was set at 1:1. This means that every shareholder of HUL will receive one share of the ice cream business for every share of the FMCG major they own, as on the record date.
<h3><strong>Record date:</strong></h3>
The allotment date was fixed at December 29. The record date to determine the eligibility of the shareholders set to receive the free shares was set on December 5. This means that those HUL shareholders whose names appear in the register of members as on the record date will be entitled to receive free shares of KWIL as part of the demerger.
<h3><strong>Kwality Wall's shares to be added to Nifty 50:</strong></h3>
The National Stock Exchange (NSE) on November 28 had announced that Kwality Wall's India will be included in the Nifty 50 index from December 5. The stock exchange conducted a special pre-open session for HUL on December 5, ahead of the FMCG major’s planned demerger of its ice-cream business into Kwality Wall’s India.

As part of the index adjustments, the demerged entity was briefly added to 35 Nifty indices at a zero price, using a dummy symbol 'DUMMYHDLVR'.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-positive-start-us-asian-markets-mixed-liveblog-13829091.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Kwality Wall's shares list at 26% discount after demerger from Hindustan Unilever

The shares of Kwality Wall's (India) made their much-anticipated market debut on February 16, listing at Rs 29.80 apiece on NSE. This marks a discount of 25.87 percent over the indicative price of Rs 40.20 apiece.

The stock debuted with a market capitalisation of Rs 7,001.78 crore. This comes after the ice cream business was demerged from FMCG major Hindustan Unilever (HUL).

The shares of the HUL adjusted to the demerger in December last year, opening at Rs 2,422 apiece on NSE on December 5. This marked a fall of nearly 2 percent (Rs 40.2 apiece) from the previous closing price of Rs 2,462.20 apiece.
About HUL-Kwality Wall's demerger:
Earlier in November 2024, HUL approved the demerger of the ice cream business, which operates popular brands including 'Kwality Wall's', 'Cornetto' and 'Magnum'. National Company Law Tribunal (NCLT) approved the demerger scheme on October 30.

The ice cream business forms 3 percent of HUL's total yearly turnover, contributing Rs 1,800 crore to the total revenue.

ICICI securities said that the ice cream business will likely be valued at Rs 9,500 crore ($1.06 billion) to Rs 11,900 crore. It values per share of the upcoming demerged entity at Rs 40-50.
Demerger ratio:
The share entitlement ratio was set at 1:1. This means that every shareholder of HUL will receive one share of the ice cream business for every share of the FMCG major they own, as on the record date.
Record date:
The allotment date was fixed at December 29. The record date to determine the eligibility of the shareholders set to receive the free shares was set on December 5. This means that those HUL shareholders whose names appear in the register of members as on the record date will be entitled to receive free shares of KWIL as part of the demerger.
Kwality Wall's shares to be added to Nifty 50:
The National Stock Exchange (NSE) on November 28 had announced that Kwality Wall's India will be included in the Nifty 50 index from December 5. The stock exchange conducted a special pre-open session for HUL on December 5, ahead of the FMCG major’s planned demerger of its ice-cream business into Kwality Wall’s India.

As part of the index adjustments, the demerged entity was briefly added to 35 Nifty indices at a zero price, using a dummy symbol 'DUMMYHDLVR'.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Aye Finance listed at Rs 129, matching its IPO price on NSE, IPO saw 97 percent subscription, retail portion at 77 percent, Analysts recommend holding due to MSME lending growth potential

* Aye Finance listed at Rs 129, matching its IPO price on NSE
* IPO saw 97 percent subscription, retail portion at 77 percent
* Analysts recommend holding due to MSME lending growth potential

Aye Finance made a muted market debut at Rs 129 on NSE, matching its IPO price. The Rs 1,010-crore IPO saw tepid demand, with retail subscription at 77%. Analysts suggest long-term holding due to strong MSME lending growth prospects.

shorts/business/aye-finance-shares-make-muted-market-debut-list-flat-at-ipo-price

* Aye Finance listed at Rs 129, matching its IPO price on NSE
* IPO saw 97 percent subscription, retail portion at 77 percent
* Analysts recommend holding due to MSME lending growth potential

The share of <a href="https://www.moneycontrol.com/india/stockpricequote/finance-nbfc/ayefinance/AFL04">Aye Finance</a> made a muted market debut on February 16, listing at Rs 129 apiece on NSE. This marks zero premium over the IPO price.

The shares of the company debuted with a market capitalization of Rs 3,183.52 crore.

The muted market debut comes after the initial public offering of the non-banking financial company (NBFC) saw <a href="https://www.moneycontrol.com/news/business/ipo/aye-finance-rs-1-010-crore-ipo-subscribed-18-on-day-3-so-far-check-gmp-13823297.html">tepid response during its three days of public bidding</a>. The Rs 1,010-crore IPO was subscribed 97 percent between February 9 and February 11 at a price band of Rs 122-129 per share.

The portion for retail individual investors (RIIs) subscribed 77 percent, while the quota for qualified institutional buyers (QIBs) received 1.5 times subscription. The part for non-institutional investors subscribed a mere 5 percent.
<h3><strong>Listing vs grey market estimates:</strong></h3>
Despite muted performance, the listing has beaten grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a discount of 1.55 percent over the IPO price at Rs 127 apiece, according to data on Investorgain.

According to IPO Watch, the unlisted shares were trading flat at the IPO price.
<h3><strong>Aye Finance IPO:</strong></h3>
Aye Finance had launched its IPO to raise Rs 1,010 crore through a fresh issue of shares worth Rs 710 crore and an offer-for-sale (OFS) of shares worth Rs 300 crore by Alpha Wave India, MAJ Invest, CapitalG, LGT Capital, and Vikram Jetley.

The IPO of the Gurugram-based non-banking finance company (NBFC) was open for public bidding between February 9 and February 11 at a price band of Rs 122-129 per share. Investors can bid for a minimum of 116 shares, requiring an investment of Rs 14,152 at the upper price band, and in multiples thereafter.

The NBFC on February 6 mobilised Rs 454.5 crore from 19 anchor investors. The company on Friday said it has finalised allocation of 3.52 crore equity shares to anchor investors at the upper price band. Nippon Life India, and Goldman Sachs Funds were the biggest investors in the anchor book, each buying shares worth Rs 74 crore.

Global names like Bay Pond, Ithan Creek Master Investors, Intergrated Core Strategies, Societe Generale, Ashoka India Equity Investment Trust, and BNP Paribas Financial Markets also participated in the anchor book.

The NBFC that provides loans to micro scale micro, small and medium enterprises (MSMEs) with small-ticket business loans with an average ticket size on disbursement of Rs 0.18 million to micro enterprises will utilise fresh issue proceeds for augmenting it capital base to meet future capital requirements arising out of growth of business and assets.
<h3><strong>Should you buy, sell or hold?</strong></h3>
Short-term investors looking for quick gains may consider exiting on any listing pop because limited premium expectations and NBFC sector sensitivity to credit cycles could lead to volatility, said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.

However, long-term investors may consider holding the stock as Aye Finance operates in a structurally high-growth MSME lending market with strong demand, the analyst added.

Aye Finance operates as a middle-layer NBFC focusing on small-ticket lending to micro and small MSMEs. Among its key strengths, Aye Finance benefits from a strong focus on the MSME segment, broad geographic diversification, and a technology-driven operating model that has helped improve cost efficiency, with the cost-to-income ratio moderating to the 50–52 percent range, said Khushi Mistry, Research Analyst at Bonanza.

The analyst explained that the company has also demonstrated faster AUM and branch expansion compared to several peers.

Master Capital Services said that outlook for NBFC-led MSME financing remains positive, supported by structural demand and deeper financial inclusion. “In this evolving landscape, Aye Finance Limited, as an NBFC-ML focused on MSME lending, is strategically positioned to capitalize on the sustained growth opportunity in the segment,” it said.

With its focus on small-ticket, secured, and semi-secured business loans, the company caters to underserved micro enterprises that remain largely outside the formal credit ecosystem, the domestic brokerage said. “Investors may consider the IPO as a potential long-term investment opportunity,” it added.

“Aye Finance’s IPO is happening at a time when investors at a macro level are showing interest in MSME lending. With its approach towards the underbanked micro-entrepreneurs and a tech-based credit assessment model, the company has created a unique niche. While most market sentiment is temporary and will determine the performance of the listing, the longer perspective will be determined by the company’s discipline towards asset quality, the length to which its lending model is scalable, and the manner in which the company manages credit cycles,” said Siddharth Maurya, Founder &amp; Managing Director at Vibhavangal Anukulakara.

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Aye Finance shares make muted market debut, list flat at IPO price

The share of Aye Finance made a muted market debut on February 16, listing at Rs 129 apiece on NSE. This marks zero premium over the IPO price.

The shares of the company debuted with a market capitalization of Rs 3,183.52 crore.

The muted market debut comes after the initial public offering of the non-banking financial company (NBFC) saw tepid response during its three days of public bidding. The Rs 1,010-crore IPO was subscribed 97 percent between February 9 and February 11 at a price band of Rs 122-129 per share.

The portion for retail individual investors (RIIs) subscribed 77 percent, while the quota for qualified institutional buyers (QIBs) received 1.5 times subscription. The part for non-institutional investors subscribed a mere 5 percent.
Listing vs grey market estimates:
Despite muted performance, the listing has beaten grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a discount of 1.55 percent over the IPO price at Rs 127 apiece, according to data on Investorgain.

According to IPO Watch, the unlisted shares were trading flat at the IPO price.
Aye Finance IPO:
Aye Finance had launched its IPO to raise Rs 1,010 crore through a fresh issue of shares worth Rs 710 crore and an offer-for-sale (OFS) of shares worth Rs 300 crore by Alpha Wave India, MAJ Invest, CapitalG, LGT Capital, and Vikram Jetley.

The IPO of the Gurugram-based non-banking finance company (NBFC) was open for public bidding between February 9 and February 11 at a price band of Rs 122-129 per share. Investors can bid for a minimum of 116 shares, requiring an investment of Rs 14,152 at the upper price band, and in multiples thereafter.

The NBFC on February 6 mobilised Rs 454.5 crore from 19 anchor investors. The company on Friday said it has finalised allocation of 3.52 crore equity shares to anchor investors at the upper price band. Nippon Life India, and Goldman Sachs Funds were the biggest investors in the anchor book, each buying shares worth Rs 74 crore.

Global names like Bay Pond, Ithan Creek Master Investors, Intergrated Core Strategies, Societe Generale, Ashoka India Equity Investment Trust, and BNP Paribas Financial Markets also participated in the anchor book.

The NBFC that provides loans to micro scale micro, small and medium enterprises (MSMEs) with small-ticket business loans with an average ticket size on disbursement of Rs 0.18 million to micro enterprises will utilise fresh issue proceeds for augmenting it capital base to meet future capital requirements arising out of growth of business and assets.
Should you buy, sell or hold?
Short-term investors looking for quick gains may consider exiting on any listing pop because limited premium expectations and NBFC sector sensitivity to credit cycles could lead to volatility, said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.

However, long-term investors may consider holding the stock as Aye Finance operates in a structurally high-growth MSME lending market with strong demand, the analyst added.

Aye Finance operates as a middle-layer NBFC focusing on small-ticket lending to micro and small MSMEs. Among its key strengths, Aye Finance benefits from a strong focus on the MSME segment, broad geographic diversification, and a technology-driven operating model that has helped improve cost efficiency, with the cost-to-income ratio moderating to the 50–52 percent range, said Khushi Mistry, Research Analyst at Bonanza.

The analyst explained that the company has also demonstrated faster AUM and branch expansion compared to several peers.

Master Capital Services said that outlook for NBFC-led MSME financing remains positive, supported by structural demand and deeper financial inclusion. “In this evolving landscape, Aye Finance Limited, as an NBFC-ML focused on MSME lending, is strategically positioned to capitalize on the sustained growth opportunity in the segment,” it said.

With its focus on small-ticket, secured, and semi-secured business loans, the company caters to underserved micro enterprises that remain largely outside the formal credit ecosystem, the domestic brokerage said. “Investors may consider the IPO as a potential long-term investment opportunity,” it added.

“Aye Finance’s IPO is happening at a time when investors at a macro level are showing interest in MSME lending. With its approach towards the underbanked micro-entrepreneurs and a tech-based credit assessment model, the company has created a unique niche. While most market sentiment is temporary and will determine the performance of the listing, the longer perspective will be determined by the company’s discipline towards asset quality, the length to which its lending model is scalable, and the manner in which the company manages credit cycles,” said Siddharth Maurya, Founder &amp;amp; Managing Director at Vibhavangal Anukulakara.

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Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

<a href="https://www.moneycontrol.com/india/stockpricequote/constructioncontracting-civil/ashokabuildcon/AB">Ashoka Buildcon</a> share price down more than 2 percent in the early trade on February 16 despite the company won road construction project in Republic of Liberia.

At 09:21am, Ashoka Buildcon was quoting at Rs 148.10, down Rs 3.65, or 2.41 percent, on the BSE.

The company had submitted bid to the Ministry of Public Works, Liberia, for the project pf upgrading of the road from Nrowkia (Sasstown Jn) to Barclayville and Nrowkia (Sasstown Jn) to Sasstown and part of Nrowkia (Sasstown Jn) to Nipleppo road project in Republic of Liberia.

The company has received a Letter of Award for the said project at an accepted bid cost of USD 45,276,621.07, and the project is scheduled to be executed within a period of 24 months.

<strong><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-positive-start-us-asian-markets-mixed-liveblog-13829091.html">Catch all the market action on our live blog</a></strong>

Earlier in this month, the company in joint venture with Aakshya Infra project received Letter of Acceptance for construction of H.L.R.C.C. bridge over river Gandak with other major bridge. The bid price for the project is Rs 474.38 crore with company holding 51% stake in the JV as lead member - partner.

Also, the company with JV partner BEC Arabia Contracting Co has received Letter of Acceptance from Diriyah Company in the Kingdom of Saudi Arabia for the project of ‘Main Construction Works of Diriyah II – Delivery Partner for One Hotel.

The accepted bid price for the project is SAR 717,086,344.22 with company's share of 49% in the JV.

The company had posted 222.6 percent surge in its quarterly net profit at Rs 2,111.41 crore in December 2025 versus Rs 654.51 crore in December 2024.

Ashoka Buildcon bags project worth Rs 410 crore; share price slips 2%

Ashoka Buildcon share price down more than 2 percent in the early trade on February 16 despite the company won road construction project in Republic of Liberia.

At 09:21am, Ashoka Buildcon was quoting at Rs 148.10, down Rs 3.65, or 2.41 percent, on the BSE.

The company had submitted bid to the Ministry of Public Works, Liberia, for the project pf upgrading of the road from Nrowkia (Sasstown Jn) to Barclayville and Nrowkia (Sasstown Jn) to Sasstown and part of Nrowkia (Sasstown Jn) to Nipleppo road project in Republic of Liberia.

The company has received a Letter of Award for the said project at an accepted bid cost of USD 45,276,621.07, and the project is scheduled to be executed within a period of 24 months.

Catch all the market action on our live blog

Earlier in this month, the company in joint venture with Aakshya Infra project received Letter of Acceptance for construction of H.L.R.C.C. bridge over river Gandak with other major bridge. The bid price for the project is Rs 474.38 crore with company holding 51% stake in the JV as lead member - partner.

Also, the company with JV partner BEC Arabia Contracting Co has received Letter of Acceptance from Diriyah Company in the Kingdom of Saudi Arabia for the project of ‘Main Construction Works of Diriyah II – Delivery Partner for One Hotel.

The accepted bid price for the project is SAR 717,086,344.22 with company's share of 49% in the JV.

The company had posted 222.6 percent surge in its quarterly net profit at Rs 2,111.41 crore in December 2025 versus Rs 654.51 crore in December 2024.

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Ashoka Buildcon bags project worth Rs 410 crore; share price slips 2%

Telecommunications Services Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Telecommunications Services industry stocks.

Gainers/Losers

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Earnings Review-Q3 FY25-26

Stock News

Infosys, TechM, Wipro, other IT stocks decline up to 2%, extend losses to 4th day amid AI worries: What lies ahead?

Ola Electric shares tumble 7% to all-time low after Q3 revenue more than halves; brokerages see up to 35% downside

Kwality Wall's shares list at 26% discount after demerger from Hindustan Unilever

Aye Finance shares make muted market debut, list flat at IPO price

Ashoka Buildcon bags project worth Rs 410 crore; share price slips 2%

Telecommunications Services Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Telecommunications Services industry stocks.