WIPRO SYSTEMS
Nifty reclaims 25,000 as bank stocks play catch up
On Monday, market indices Sensex and Nifty showed a recovery following heavy intraday losses. Investors reacted positively to gains in banking stocks driven by foreign purchases and falling crude oil prices. The Sensex closed at 81,106.65, rising 107.25 points, while the Nifty ended at 25,044.65 after gaining 58.25 points. Additionally, the Nifty PSU Bank index surged almost 4%, making it the top-performing sectoral index.
Stocks in news: M&M, BHEL, Adani Enterprises, Wipro, Tata Steel, Siemens and Divi's Labs
Indian equity markets ended marginally lower on Sunday, breaking a seven-session winning streak. The NSE Nifty 50 decreased by 44 points, closing at 24,986. Several companies, including Adani Enterprises and Tata Steel, announced important corporate developments and new investments. Wipro appointed a new CEO for its Americas unit, while various firms reported their quarterly earnings. Overall, investors remain cautious as they monitor these announcements and future market movements.
Infosys, Wipro, TCS and other IT stocks rise up to 3% as US AI rout deepens; is the bubble bursting?
In the wake of a worldwide AI stock decline, companies such as Infosys and TCS have seen their shares rise, demonstrating a contrasting trend. This downturn has sparked fears of impending regulations within the sector, prompting analysts to predict that Indian IT companies might leverage this moment to enhance their entrepreneurial AI ventures, all while experts caution against excessive financial commitments in the AI landscape.
Premji Invest goes big on strategic output & tech
Premji Invest and Singularity AMC are likely to lead a $30-40 million round in Sanlayan at a valuation of about $200 million, according to the people. Separately, Premji Invest is in advanced talks to lead Hical’s first institutional funding round of $30-40 million, alongside TVS Capital.
Nifty’s comeback or a largecap trap? Anand James decodes breadth, IT and Swiggy
Anand James, Chief Market Strategist at Geojit Investments, says the recovery still looks like a narrow largecap-led bounce, even as the 18% surge in Nifty IT points to the early stages of a possible leadership cycle. He also assesses Swiggy’s rebound prospects and names his top stock ideas for the week.
Infosys, TechM, TCS, other IT stocks plunge up to 5%, extend losses as global AI trade rebounds. What lies ahead?
Indian IT stocks fell sharply on Wednsday as renewed optimism around the global AI trade weighed on sentiment. Strong earnings from SK Hynix and Anthropic’s IPO filing fuelled gains in AI-linked stocks globally. However, concerns over an AI bubble persist, with analysts highlighting a potential advantage for Indian IT services firms.
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IT firms navigate peak pessimism by prioritising growth in stable Q2
Analysts said that artificial intelligence (AI) is becoming a significant revenue driver for the majority of Indian IT companies. However, they cautioned that near-term prospects remain muted due to pricing pressure and AI-driven deflation in traditional services.
Cognizant eyes Sarvam stake; Ather aims for higher market share
Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.
Anthropic IPO rocks Indian IT; Why Walmart is in no hurry to list Flipkart
Anthropic’s US IPO filing sent Indian IT stocks lower on Tuesday. This and more in today’s ETtech Top 5.
VerSe valuation sinks; Paytm Q2 profit rises
Happy Tuesday! Dailyhunt parent VerSe Innovation’s valuation has taken a sharp hit. This and more in today’s ETtech Morning Dispatch.
Ather rides to profit; Pronto's US AI play
Ather Energy swung to profit in the July-September quarter. This and more in today’s ETtech Top 5.
Bridging the AI production gap: Over 100,000 Indian engineers trained to Build with Gemini
India is seeing a significant shift in its technology workforce towards enterprise AI integration and solutions. The Build with Gemini initiative has trained over 100,000 developers and architects across several major organizations. This transition emphasizes the need for professionals skilled in engineering AI for production. Global System Integrators are crucial in facilitating this workforce transformation. The evolution aims to position India as a key player in AI architecture and engineering.
₹4 lakh crore rally, ₹6,500 crore FII buying: Are IT stocks finally making a comeback?
Indian IT stocks experienced a notable market value recovery of approximately ₹3.87 lakh crore in October. Foreign investors invested around ₹6,463 crore in the IT sector during the third quarter. The Nifty IT index rose about 17 percent in October after a previous decline of roughly 20 percent. Analysts caution that despite selective buying, the sector faces a challenging earnings environment ahead.
Software majors delete 24,000 jobs across IT and engineering in a year
Over the last one year, Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTIMindtree collectively recorded 92,000 exits, in line with the industry's normal attrition rate of 11-15%. However, with exits outpacing hiring of new employees in the IT and engineering functions in five of the last six months, overall intake over the 12 months fell by 24,422 to 68,000, data from staffing firm Xpheno showed.
Ahead of Market: 10 things that will decide stock market action on Thursday
Sensex and Nifty ended above pre-closing auction session levels after extreme volatility, despite an Rs 8 lakh crore market selloff. Elevated crude prices, foreign investor outflows and weak market breadth kept sentiment cautious.
IT companies likely to see 2-3% AI led deflation over the next 1-2 years
The rise of artificial intelligence is anticipated to contribute to ongoing revenue challenges within the IT services sector. Leading firms such as Tata Consultancy Services and Wipro have begun to adapt their revenue models. While some leaders believe AI-related growth may soon balance out traditional losses, worries about AI-induced deflation and reduced discretionary spending linger. Analysts suggest that these trends could persist until at least FY29 during contract renewals.
Wipro GE HealthCare considering fifth India plant, plans to double exports
Wipro GE HealthCare is evaluating options for a new manufacturing facility in India to enhance operations. The company operates four plants and seeks to double global exports while focusing on local sales growth. A significant investment of Rs 8,000 crore is planned over five years to support this initiative. The domestic medical equipment market is projected to grow annually by 10-11%, creating opportunities for Wipro GE HealthCare.
European Donald on a mission to mould ties with India
Poland's Prime Minister Donald Tusk is visiting India to enhance strategic partnerships in trade and technology. The visit includes talks with Prime Minister Narendra Modi regarding security and economic collaborations. Business programs in New Delhi and Bengaluru are planned to stimulate investment and innovation. Both countries aim to develop a trade roadmap targeting $10 billion and address market barriers.
In second visit within months, Rubio calls on India to scale up US energy and defence buys
India and the US are actively working to expand energy and defence cooperation amidst existing tensions. US Secretary of State Marco Rubio emphasized India's potential as a crude oil refining superpower. Discussions included increasing energy trade and promoting the purchase of American technologies for mutual benefit. Rubio also plans to visit Reliance Industries Ltd's Jamnagar Refinery to discuss energy security.
Infosys, TCS and Cognizant cut H-1B lottery registrations as Trump tightens US visa rules
Infosys, Tata Consultancy Services (TCS) and Cognizant registered far fewer candidates for the US H-1B visa lottery for fiscal year 2027, according to a report. Cognizant recorded a 100 per cent drop in registrations, while Infosys and TCS saw declines of 91 per cent and 95 per cent, respectively. The fall comes as the Trump administration raises hiring costs, changes the visa selection process and increases scrutiny of employers.
Rebuked by India, Vance admits he went too far with "indentured servants" rhetoric
JD Vance faced backlash for comparing H-1B visa holders to indentured servants, prompting clarifications in his statements. He emphasized that his criticism aimed at the companies and visa system instead of the visa holders. The Indian government condemned Vance's remarks, highlighting the contributions of Indian professionals to the US economy. They stated that such descriptions ignore the significant role immigrants have played in America's growth.
Software majors add more hands in Q2 on deal wins, growth optimism
Data showed the top six had added a net 5,500 to their rolls in the April-June quarter. Employee data of Infosys, the country’s second-largest software exporter, isn’t included in these calculations as the company is due to announce earnings on October 23 and hasn’t shared its latest manpower data.
Flipkart ex-staff push for Esop buyout; Wipro, Tech Mahindra’s Q2 report
Happy Friday! Former Flipkart employees are asking Walmart to cash out their vested stock options. This and more in today’s ETtech Morning Dispatch.
Oil Price Today (October 16): Crude oil dips to $105 as Trump mulls easing restrictions on sanction-facing nations. What’s next?
Brent crude futures fell 41 cents, or 0.39%, to $105.51 a barrel, while US West Texas Intermediate crude futures declined 54 cents, or 0.55%, to $97.43. WTI settled up more than 3% on Thursday after a large US crude stock draw helped support prices, while Brent crude was little changed.
Stocks in news: RIL, Wipro, Jio Financial, Tata Communications, YES Bank, PNB
From a technical perspective, the 23,000–23,100 zone remains an immediate resistance level for the Nifty, according to Ponmudi R, CEO of Enrich Money. A sustained breakout above this range could reinforce bullish momentum and open the door for a move towards 23,300–23,400, he said.
Flipkart’s marketplace revenue falls; Wipro Q2 profit takes a hit
Flipkart’s marketplace business sees revenue decline as losses widen. This and more in today’s ETtech Top 5.
Stocks in news: Reliance Industries, Jio Financial, Tata Tech, HDB Financial and Wipro
Indian equity benchmarks ended lower after a volatile session influenced by strong wholesale inflation and elevated crude oil prices. The Nifty 50 declined, testing the support zone of 22,580-22,620, which might weaken with repeated tests. Several companies, such as Reliance Industries and Tata Technologies, are expected to be in focus due to upcoming quarterly earnings.
Nazara founder Nitish Mittersain steps down as MD; Caratlane’s Sacheti appointed executive director
Mithun Sacheti, cofounder of jewellery retailer CaratLane, who became a co-promoter of Nazara last year, has been appointed executive director. Sacheti will oversee strategic initiatives and operational responsibilities assigned by the board, the filing said.
Bahrain introduces new temporary work rules for foreign workers allowing 90-day employment with other companies
Bahrain has announced new rules allowing foreign workers to temporarily work for another employer for 90 days. The arrangement requires written consent from the worker and approval from the Labour Market Regulatory Authority. Employers must adhere to Bahrainisation requirements while sharing responsibilities for the worker's rights and obligations. This change does not establish a new recruitment route but aims to assist in meeting temporary staffing needs.
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