インドのIT輸出企業は、株価評価が2008年から2009年のサブプライム危機以来の低水準まで落ち込んでいる。2026年に約30％の下落を記録した後、これらの企業の株価収益率（PER）は現在15倍から18倍で推移している。AIの進歩と新たな競争の激化が、この下落の主な要因として挙げられている。
Infosys、Tata Consultancy Services、HCL Technologies、Wiproを含むインドのIT輸出企業は、時価総額の大幅な減少に見舞われている。その株価評価は現在、2008年から2009年の金融危機時期に記録された水準に近く、株価収益率（P/E）15倍から18倍で取引されている。
The Nifty IT index fell more than 6% to a three-year low on concerns triggered by Accenture's lowered revenue forecast. Infosys shares dropped 9% to a near six-year low, erasing nearly Rs 40,000 crore in market value. Other IT stocks including TCS and HCLTech also declined sharply.
AIによるレポート
BNP Paribas analyst Kumar Rakesh has cautioned investors against viewing largecap Indian IT stocks as a straightforward value play. He points to weak FY27 guidance, AI-led disruptions, and stalled client spending as major challenges. Buybacks and dividends offer some support, but earnings risks remain high.
JPMorgan has downgraded Indian equities to neutral from overweight. The bank warned that the Nifty index could fall to 20,500 in a bear-case scenario, implying a 15% downside from current levels. Near-term risks include elevated valuations and uncertainties from the Iran war and energy disruptions.
AIによるレポート
Global fund managers are reconsidering exits from Indian stocks as falling oil prices and rupee stabilization reduce key concerns. Daily foreign selling has slowed while inflows into India-focused ETFs have turned positive. Analysts note that attractive valuations could support a market rerating if earnings growth holds.