WIPRO MARGINS

Infosys, Tech Mahindra among 6 IT stocks that could surprise positively in Q1 results: JM Financial

Stating that Tech Mahindra remains a ‘buy' on turnaround hopes while KPIT Technologies and Tata Technologies are structural bets on auto ER&D theme, domestic brokerage firm JM Financial believes that Q1 results for the IT sector could positively surprise the street.

Under Pallia’s leadership, we are in for a bright future together: Wipro chairman

Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.

Adani Ports enters Sensex, Wipro exits as part of semi-annual rejig

Adani Ports joins Sensex as Wipro exits. The inclusion of APSEZ brings $259 million in passive inflows. Seven stocks' weights to rise: Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra, Tata Steel, and IndusInd Bank.

FMCG spends up 18% in two years due to inflation- Kantar

Consumers have increased their spending on daily essentials, groceries, and household products by 18% in the first quarter of 2024 compared to two years ago, according to a recent Kantar report. Despite a recent softening in commodity prices, the prices for these goods remain nearly a fifth higher.

IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar

Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.

Green shoots seen in rural demand: Wipro Consumer CEO

Vineet Agrawal, CEO of Wipro Consumer Care and Lighting, noted positive signs of growth in rural demand and anticipates a recovery in the hinterland by September, supported by favorable monsoon conditions and a successful harvest. Furthermore, he suggests that stable government policies could potentially boost sales of discretionary products through continuity and consistency.

IT stocks plunge up to 5% on Monday after 8% rally last week. Know how experts view sector!

Nifty IT index fell 2.3% with Coforge and Persistent Systems as top losers, despite Nifty hitting a lifetime high. IT sector has seen recent positive returns but remains a laggard over the quarter.

Sandip Agarwal's 4 top bets from IT sector for near term

​I think now the attrition rates are under control. Margin should expand because margin is a direct factor of where your attrition is, utilisation is. So, I think the revenue growth I do not see will pick up very substantially immediately, because if at all the ECB rate cut has happened, now in US also we are expecting some cool off to happen on the rate front.

Hot Stocks: Brokerage view on Wipro, IndiGo, UNO Minda and GAIL

Domestic brokerage Kotak Institutional Equities has a buy rating on IndiGo with a target price of Rs 5,700. The probability of Indigo breaching margin peaks is increasing. Most challengers to IndiGo will see another year of stiff losses in FY2025.

Rising employee productivity to boost IT cos in hard times

Top tier IT exporters see rising employee productivity amidst challenges like revenue deceleration, shrinking margins, and lower headcount in FY24.

IT CEOs' salary in FY24; Wipro offers 85% variable pay

Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.

Wipro gives over 85% variable pay for Q4 FY24

IT services major Wipro paid its employees an average of more than 85% variable pay for the fourth quarter of FY24, several employees have told ET, on condition of anonymity.

Go Digit’s D-Street debut; Honasa Consumer Q4 financials

Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.

IT sweats to eke out margins on pricing squeeze, staff costs

Indian outsourcing companies face a margin squeeze in FY24 due to a triple threat: aggressive deal pricing, rising employee costs, and the pressure to boost revenue despite tight global budgets. Notably, Tata Consultancy Services (TCS), the industry leader, seems to be the only exception.

Sensex opens marginally higher tracking postive global cues; Nifty above 22,450

Indian benchmark indices opened higher. HUL, Nestle India, Godrej Consumer Products surged, while Lupin declined. Nifty FMCG, Marico, Dabur, Financial Services, PSU Bank, Consumer Durables, Oil & Gas gained. Global markets rise, oil prices up, rupee strengthens.

Sustained deal momentum and margin improvement augur well for Wipro

Wipro’s net profit rose by 5.2% sequentially to Rs 2,834.6 crore in the March quarter, much faster than the analysts’ average estimate of 2.5% growth. It was driven by a 40 basis point improvement in the operating margin at 16.4%, again higher than the expectation of a 20 basis point expansion.

Wipro Q4 Results: Profit falls 8% YoY to Rs 2,835 crore, marginally misses estimates

Wipro Q4 Results: Wipro reported an 8% YoY decrease in net profit to Rs 2,835 crore for the quarter ended March 2024. PAT is slightly below estimates. Operating margins at 16.4%. Future outlook optimistic with a focus on AI transformation.

Wipro Q4 Results: PAT dips 8% YoY to Rs 2,835 cr; revenue guidance pegged at -1.5 to 0.5%

Why hasn’t Infosys upgraded margin guidance if TCVs are at record high? Sandip Agarwal asks

Sandip Agarwal asks: "Despite a strong TCV, why is the growth guidance so low? We are not able to connect the dots of what is pulling down growth so much and why they are projecting this kind of growth. In my view, this guidance and these numbers are on the lower side of what anyone would have been anticipating."

As Wipro gets a new CEO, a look at its woes in four data charts

The change of guard at Wipro is coming at a time when the IT major's operating margins are the lowest among its peers. And the change comes at a time when clients are in no mood to ramp up big budget transformation deals.

Exclusive: Wipro to lay off hundreds of mid-level employees to improve margins

Wipro is cutting mid-level roles to improve margins. It bought Capco for $1.45 billion, Delaporte's biggest bet. Job cuts are part of the 'Left-Shift' strategy. Wipro underperforms and faces conflicting goals.

Wipro has margin headroom available in terms of improvement ahead: Mahantesh Sabarad

Mahantesh Sabarad notes that while there was no QoQ growth, the margin beat of 16% is surprising. He attributes this to the restructuring of Wipro's businesses and reallocations of costs. The margin beat is led by strong operational improvements and automation-led efficiencies. Sabarad expects the beat to sustain due to continuing deal wins.

IT may see a muted Q4; rebound likely in FY25: experts

The third-quarter performance of Indian IT majors such as TCS, Infosys, HCLTech and Wipro did not inspire much confidence. In Q3, Tata Consultancy Services posted a 4% increase in revenue and a 2% expansion in profit, while Infosys reported a 7.3% drop in profit. Meanwhile, Wipro’s profit fell 12% and HCLTech’s grew 6.2%.