AI Shock: IT valuations fall near levels seen during subprime crisis
ET Intelligence Group: The latest selling spree in IT stocks has impacted valuations of top Indian software exporters, taking them near the levels seen during the subprime crisis in 2008-09. The stocks of Tata Consultancy Services (TCS), Infosys, HCL Technologies, and Wipro currently trade at trailing price-earnings (P/E) multiples between 15 and 18. They have…