- Shares of IT services firms rose after FM Sitharaman announced tax holiday till 2047 for cloud data centres.
- Coforge, TCS, Infosys, Persistent Systems, and Wipro gained more than 2% each in response to the announcement.
- The tax holiday applies to foreign companies providing cloud services by establishing data centres in India.
Shares of IT services companies rose after Finance Minister Nirmala Sitharaman proposed a tax holiday till 2047 for foreign companies providing cloud services by setting up data centres in India.
Coforge, TCS, Infosys, Persistent Systems and Wipro gained more than 2% each.
In her Budget 2026 speech, Sitharaman said any foreign company that provides cloud services by setting up data centres in India will be eligible for a tax holiday until 2047.
This is a developing story and will be updated shortly.
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