Sanjiv Puri, CEO and Managing Director, ITC Restricted, speaks on the NASSCOM Expertise and Management Discussion board in Mumbai, India on February 25, 2026. Photograph credit score: Reuters
ITC Chairman and MD Sanjiv Puri, talking on the sidelines of NASSCOM’s annual expertise summit 2026, known as the collapse within the Nifty IT index an “overreaction”.
“I do not know why there’s overreaction. However we should always depart it to the market. However the actuality is that each time expertise advances, if you happen to apply it to the market necessities, it’s not the tip of the world,” Puri mentioned in Mumbai on Wednesday (February 25, 2026).
Laptop and tobacco conglomerate ITC Infotech’s high-tech enterprise accounted for five% of ITC Group’s income as of H1 FY25, in response to information from inventory screening platform Screenr.
Speaking in regards to the potential use circumstances of AI, he mentioned they’re being carried out in three buckets, together with effectivity features in factories, provide chain administration, and advertising and marketing.
Puri’s feedback tackle significance within the context of the day before today’s slide in tech shares, which has been a part of a month-long underperformance within the Nifty IT index. The instant set off for the 4% drop in IT shares on Tuesday was Anthropic’s announcement that it had developed a software to automate COBOL, a pc programming language for enterprise processes. New York-based analyst Citrini Analysis wrote a weblog submit modeling the world’s climate, predicting that AI will change into mainstream in enterprise and the economic system will probably be in a unique equilibrium by 2028. The submit spooked traders and triggered a sell-off.
