CLSA Downgrades Indian IT Stocks Amid AI Concerns
CLSA has downgraded several major Indian IT stocks, including TCS, Infosys, and Wipro, and revised their target prices, citing ongoing concerns related to artificial intelligence.
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CLSA has downgraded several major Indian IT stocks, including TCS, Infosys, and Wipro, and revised their target prices, citing ongoing concerns related to artificial intelligence.
BSE Ltd is slated to join the Nifty 50 index, replacing Wipro Ltd, following a semi-annual review by NSE Indices based on market capitalization metrics.
Several companies, including IDACORP, Molson Coors, Targa Resources, and Texas Instruments, have announced their latest quarterly dividend payouts to shareholders. The declared dividends range from $0.04 to $1.42 per share.
Wipro is building AI momentum, highlighted by Capco's recognition and a major project with METRO, signaling progress in its artificial intelligence initiatives.
Wipro Limited's stock has seen gains attributed to its share buyback program and a strategic partnership formed with ServiceNow.
Wipro Limited, an IT stock, is emphasizing its commitment to artificial intelligence growth and delivering strong returns to its shareholders.
Microsoft has initiated one of its largest enterprise AI rollouts, deploying over 300,000 Microsoft 365 Copilot licenses across India's IT leaders Infosys, TCS, and Wipro, integrating AI into their core workflows.
Wipro Ltd. (WIT) shares surged by 18% following the announcement of a billion-dollar buyback program, a move typically seen as a positive signal to investors.
Salice Thomas has been appointed as the General Manager and Sector Head for Automotive Engineering at Wipro Limited, as highlighted by Forbes Councils.
Wipro's shares fell by up to 4% following the release of its weak fourth-quarter earnings report and a subdued outlook, which cited cautious client spending and sluggish revenue growth in its core IT services.

Wipro has cleared a share buyback program worth Rs 15,000 crore, offering a 19% premium to its shareholders.
Indian IT services company Wipro reported mixed fourth-quarter financial results, with revenue slightly missing expectations while earnings per share were in-line. Following the announcement, Wipro unveiled a record share buyback program.
Wipro has landed a significant $1 billion contract with Singapore-based Olam and simultaneously announced its acquisition of a unit from Olam for $375 million.
InTest, a global supplier of innovative test and process technology solutions, has announced the appointment of Rich Rogoff as its new Chief Executive Officer.

Major Indian IT companies including Infosys, TCS, Cognizant, and Wipro have reportedly reduced their canteen menus and are asking employees to bring their own food.

A road closure near the US Consulate in Hyderabad has led to increased traffic congestion on the already strained Wipro stretch. The closure is impacting local commuters.
Wipro Consumer Care has announced its plan to acquire a 60% stake in Dermatouch for Rs 387.5 crore. This acquisition marks a strategic move for Wipro into the dermatology and personal care market.
Meta Platforms is scaling back its outsourcing contracts with Wipro as part of a broader business restructuring driven by its focus on artificial intelligence. This move reflects Meta's strategic shift in its operational priorities.
Indian IT services giant Wipro has reported first-quarter revenue that fell short of analysts' expectations.
Wipro Limited successfully completed the data center migration for METRO AG, demonstrating its expertise in managing complex IT infrastructure projects. This achievement underscores Wipro's capabilities in datacenter services.
Indian IT services giant Wipro has inaugurated an AI center in Bengaluru dedicated to supporting Anthropic's Claude AI models.

An former Wipro employee has accused a female boss of 'forced conversion,' prompting the company to state it is cooperating with authorities and providing all necessary information to Pune Police.
Wipro, an Indian multinational corporation, is set to raise its stake in the US insurtech company Aggne Global to 80%, strengthening its position in the insurance technology sector.
Wipro Limited (WIT) has finalized its acquisition of Mindsprint, a business unit of Olam Group, expanding its portfolio and market presence.
Wipro is reportedly expecting a weak first quarter for fiscal year 2027, according to Reuters.
Indian IT services company Wipro experienced a significant decline of over $650 million in its market capitalization after issuing a weak financial forecast.
U.S. Bancorp, ManpowerGroup, JinkoSolar, PepsiCo, and Wipro have each released highlights from their latest quarterly earnings calls. These reports provide updates on their financial performance for the respective periods.
Manpower and Wipro have both released previews ahead of their respective quarterly earnings reports. Investors are anticipating the financial results for Q1 2026 for Manpower and Q4 2026 for Wipro.
Indian IT services giant Wipro saw its stock rise after announcing a deal to acquire the IT business of Olam Group.
Wipro Limited has announced a new partnership with Harness.

Stock Market Today Live Updates: Sensex rises over 100 points at the open, Nifty back above 24,250; Wipro, TechM post gains.
Wall Street has adopted a cautious stance on Wipro Limited (WIT) following the company's third-quarter 2026 earnings report.
Wipro Ltd.'s departure from India's Nifty 50 index, making way for exchange operator BSE Ltd., reflects a broader shift in the Indian IT sector from an outsourcing-led boom to one driven by a growing investor base.
Indian IT stocks, including TCS, Infosys, and Wipro, experienced a rally while global AI stocks plunged. This surge indicates a comeback for the Indian IT sector as the global AI trade falters.
Wipro is set to provide a preview of its first-quarter 2027 earnings. The technology services company's financial performance and projections will be closely watched.
Anukriti Vidyarthi, a Delhi marketing professional, shared her unexpected layoff from Wipro after five and a half years, describing the experience as a potential 'sign from God' and candidly discussing the personal impact of losing job security.
Wipro's Rs 15,000 crore share buyback offer has opened, providing shareholders with an opportunity to sell shares at a premium until June 17.

Infosys CEO Salil Parekh is reported as the highest-paid IT CEO with Rs 82.6 crore, followed by Wipro's Srinivas Pallia who received Rs 49.6 crore in FY26, making him the second-highest among top IT services firms.
Shares of India's Wipro rose significantly after the company announced an expanded partnership aimed at scaling AI adoption. This collaboration is expected to boost Wipro's capabilities in artificial intelligence.
Indian FMCG major Wipro has made an investment in Moi Soi, a pan-Asian food brand. This strategic move expands Wipro's presence in the food sector.
A review of significant business transactions highlights key deals involving companies such as American Express, Otis, Vertiv, and Wipro during the current week.
Indian IT firm Wipro's shares experienced a decline after the company issued a weak financial forecast. This outlook sparked concerns among investors regarding the company's future growth prospects.
Wipro Hydraulics announced its plan to acquire Indeco, an Italian company, as part of an expansion of its product portfolio.
Wipro (WIT) has made a subtle but significant move that analysts suggest could redefine the company's ambitions in the artificial intelligence sector.
Olam Group has announced the sale of its IT and digital services unit, Mindsprint, to Indian IT giant Wipro for a sum of $483 million. This transaction marks a significant move for both companies in the technology sector.
Indian IT stocks, including Infosys, TCS, and Wipro, surged up to 4%, with Coforge and Persistent Systems gaining over 4% each, as the sector rallies.
Wipro's stock surged by 10.4% driven by increased market excitement surrounding chip assembly technologies.
Wipro's Chief Technology Officer has publicly stated that artificial intelligence should be seen as an opportunity for growth and innovation, rather than a threat to existing industries or jobs.