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Shares of Wipro fell as much as 4% to Rs 202 on the NSE on Friday after the IT major reported a decline in fourth-quarter profit and flagged a subdued near-term outlook.The company posted a 2% year-on-year drop in consolidated net profit to Rs 3,502 crore for Q4, even as revenue rose 8% to Rs…
Bengaluru: Amid lacklustre performance, Wipro approved its sixth-and largest-share buyback to date, worth Rs 15,000 crore at Rs 250 per share. Founder Azim Premji and the promoter group are set to participate in the buyback.As part of its capital allocation strategy, the board proposed buying back up to 60 crore equity shares of face value…
Wipro reported a marginal decline in its March quarter profit even as revenue grew, with the IT major flagging a challenging global environment and cautious near-term outlook.The company posted a consolidated net profit of Rs 3,501.8 crore for Q4 FY26, down 1.89 per cent from Rs 3,569.6 crore a year ago, according to PTI.The dip…
Wipro on Thursday approved a Rs 15,000 crore share buyback, its largest so far, even as the IT major’s offer remains smaller than recent repurchases by peers Infosys and TCS, PTI reported.The company’s latest buyback surpasses its Rs 12,000 crore programme in 2023, but trails Infosys’ Rs 18,000 crore offer –the largest by any Indian…
Historically, companies maintained a sizeable bench by hiring in anticipation of future projects. (AI image) Indian IT sector majors – Tata Consultancy Services (TCS), Wipro, Infosys, HCL Tech, and Tech Mahindra – have seen their bench strength drop by 25% in the last two years. Bench strength acts as a traditional reserve workforce with an…
CLSA noted that it does not currently observe any pricing pressure linked to AI in contract renewals for IT services firms. (AI image) Indian IT stocks rebound! Shares of major IT firms including Infosys, TCS and HCL Tech climbed by as much as 4%, supported by global brokerage CLSA reaffirming its ‘Outperform’ stance on key…
A cooking gas crunch, stemming from the West Asia conflict, has forced major Indian IT firms like Infosys, TCS, and Cognizant to drastically cut canteen services. Employees are now compelled to bring packed lunches, impacting thousands who rely on office cafeterias, especially those in PGs and hostels with limited options. People in corporate sector jobs…
Selling pressure in global technology stocks spilled over to Indian IT counters listed in the US on Thursday, with Infosys and Wipro ADRs declining sharply amid a broader risk-off mood and concerns over interest rate outlook and AI-driven disruption in the sector.Infosys’ American Depositary Receipts (ADRs) fell more than 7 per cent to an intraday…
BENGALURU: Wipro has emailed fresh graduates hired under its Work Integrated Learning Programme (WILP), asking whether they would like to transition to regular employment. People aware of developments attributed the move to urgent project ramp-ups, prompting the company to onboard talent sooner.WILP offers fresh BCA and BSc graduates an opportunity to begin their careers while…
The sell-off in IT stocks was triggered by an announcement from US-based AI startup Anthropic. (AI image) IT stocks crash! Shares of Indian IT majors Infosys, Wipro, HCL Tech, Tata Consultancy Services (TCS), and Persistent Systems tanked in opening trade on Wednesday, dragging Sensex down by over 100 points. The decline was due to concerns…
