Wipro

Indian equity benchmarks, Sensex and Nifty, extended their losses for a fourth consecutive session, plunging nearly 2% on Tuesday. Rising crude oil prices, sustained foreign fund outflows, and escalating West Asia conflict uncertainty contributed to the broad-based selloff, impacting IT, realty, and consumer durable stocks.

RIL, Tata group exploring greater flexibility; move may affect IT companies return to office plans

Intel's new Core Ultra Series 3 processors, codenamed Panther Lake, are now powering AI-driven laptops from brands like Asus and HP. Indian tech giants TCS, Wipro, and Tech Mahindra are leveraging these chips for advanced AI tools, including localized LLMs and office automation assistants.

India's top IT firms are cutting jobs. This shift is driven by AI and changing client demands. Companies now prioritize outcomes over sheer employee numbers. The focus is on skilled workers who can leverage AI. This recalibration signals a new era for the IT sector, emphasizing efficiency and specialized talent.

Infosys’ total workforce stood at 3,28,594 at the end of Q4 FY26, reflecting a sequential decline of 8,440 employees from the previous quarter, but an increase of 5,016 compared to the year-ago period.

Wipro's shares tumbled as profit dipped and the IT firm projected a subdued outlook, citing cautious client spending. Revenue growth in its core IT services remained sluggish, raising concerns about persistent challenges. Despite a share buyback, weak guidance and margin pressures overshadowed positive deal bookings, leading to a significant year-to-date stock decline.

Brokerages offer mixed views on Indian stocks. Motilal Oswal is bullish on Dixon Technologies, citing government approvals. Macquarie is cautious on United Spirits, noting growth lags. Citigroup recommends HDFC Life despite Q4 challenges. Morgan Stanley maintains an overweight on HDFC AMC, expecting steady AUM growth. Nomura reiterates a buy on Wipro, highlighting deal wins and a significant buyback.

A UK-based Indian-origin pharmacist is fighting extradition to India over a chilling plot. Prosecutors allege he paid a delivery boy Rs 2,000 to deliver arsenic-laced spices to his estranged wife's family in Hyderabad, resulting in his mother-in-law's death and poisoning others. He also allegedly attempted to hire contract killers.

The Indian stock market saw mixed movements today, with the BSE and NSE experiencing gains and losses across various sectors. Trent and SBI emerged as top gainers on both exchanges, while companies like Titan and Axis Bank faced declines. Technology and banking stocks showed a general downward trend.

The US median employee earned $140,739 (pay ratio: 153:1), while the global median—based in India —earned $14,136, implying a much higher ratio of 1,523:1.

Cognizant CEO Ravi Kumar S's 2025 realized pay reached $10.6 million, a nearly 29% jump. The company's strong performance, exceeding revenue and margin guidance, fueled this increase. This contrasts with other Indian IT CEOs' compensation, with Cognizant's global median employee pay ratio highlighted.

Wipro has secured a significant deal with Singapore-based Olam Group, valued at over $1 billion, including an $800 million committed spend. This eight-year agreement will see Wipro deliver AI-powered transformation services across Olam's global 'farm-to-fork' value chain. Additionally, Wipro is acquiring Olam's IT and digital services arm, Mindsprint, for $375 million.

Indian IT firms anticipate a largely uneventful March quarter, with muted growth expected due to geopolitical uncertainty and early GenAI impacts. Despite a depreciating rupee boosting earnings, deal momentum faces potential pressure from ongoing conflicts. Companies are likely to remain cautious with their outlooks for the upcoming fiscal year.

Indian equity benchmarks, Sensex and Nifty, staged a strong intraday recovery to close higher on Tuesday. Easing crude oil prices, positive global cues, and robust buying in IT stocks fueled the rebound. Despite initial weakness, markets ended firmly in the green, with IT stocks leading the gains.