Bengaluru, Aug. 25 -- As legacy staffing-led contracts decline, global IT services companies are rushing to incorporate AI into client delivery models. This change has caused Nifty IT stocks to drop by almost 20% this year, making acquisitions that combine domain knowledge with AI capabilities more crucial to Indian IT majors' growth defence strategies.

With a market capitalisation of Rs.8,21,920.94 crore, the shares of Tata Consultancy Services were trading at Rs.2,271.70, down 0.49% from its previous close of Rs.2,283. The stock trades at a P/E of 16.42x.

The Porsche Deal

In addition to a separate deal to buy MHP, Porsche's IT consulting division, for €320 million, Tata Consultancy Services and Porsche have inked a five-year, &...