WIPRO REVENUE FORECAST
Heat wave, elections to create unlikely earnings winners and losers
India's scorching summer impacts Avenue Supermarts Ltd. and Bajaj Auto Ltd. DMart sells more ice cream, while Bajaj Auto defers purchases and introduces a new CNG-powered motorcycle, with its slowest profit expansion in April-June quarter. Nirmala Sitharaman may boost consumption. Infosys, Wipro, TCS benefit from AI demand and partnerships.
Tech heavyweights drive Sensex over 150 points higher, Nifty above 23,600
Indian benchmark equity indices opened higher led by information technology stocks after U.S. IT firm Accenture forecasted annual revenue growth above expectations.
Wipro launches Lab45 AI platform to compete on GenAI solutions
Wipro launched Lab45 AI platform to enhance business functions and industry-specific solutions for customers and employees. The platform has shown productivity gains of up to 30% across industries, according to Subha Tatavarti, Wipro's chief technology officer.
Drop in renewal deals poses revenue challenge for top IT firms
Deal momentum slowed in 2023-24 despite record deals as clients favor new over old deals. Vendor consolidation and slower decision-making ensued, impacting near-term revenues for service providers who must be proactive.
A gruelling IT marathon: FY24 was a turbulent year for the Indian IT sector. What lies in store for the next 12 months?
In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins.
India's top 3 IT companies see exit of 64,000 employees in FY23-24
India's IT services industry - a $254 billion powerhouse - has been feeling the heat of global macroeconomic uncertainties and geopolitical flareups as clients turned cautious with IT spends.
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Wipro Q4 Results Preview: Muted show likely once again, all eyes on new CEO’s growth roadmap
Wipro Q4 Results Preview: The company is projected to see its consolidated revenue remain stagnant compared to the previous quarter and decrease by 4.3% year-on-year (YoY) to Rs 22,185 crore, based on the average estimates provided by 10 brokerage firms.
Stocks in news: Infosys, Wipro, Bajaj Auto, Jio Financial, HDFC AMC, Hindustan Zinc
Software services exporter Infosys forecast annual revenue below expectations on Thursday as global macroeconomic uncertainty pressures client spending on discretionary projects. Revenue for Q4 grew just 1%, while profit was up 30%.
IT stocks slump as F&O bears mount bets on more downside fears, Infy results in focus
Indian IT stocks decline, affecting benchmarks. Concerns over US Fed rates and IT demand recovery persist. Infosys' guidance for FY25 awaited. Market cautious pre-results, with Nifty IT Index closing below 200 EMA.
Indian IT giants ride US jobs boom, hire more and more techies
US tech hiring surge boosts Indian IT firms like TCS, Infosys, HCL. Job openings in tech positions increase, with cities like New York, Washington, Dallas showing high demand. CompTIA forecasts further growth in the tech workforce.
IT earnings may show worst is over for showpiece sector; all eyes on TCS today
Banks spending more on technology to meet regulatory mandates, companies upgrading SAP systems and a broader increase in technology spending after US elections due in November are some of the factors that have raised demand recovery prospects for India’s $245 billion-plus IT services sector next year.
Wipro Infra Engineering counting on AI tech boom, govt’s manufacturing push to reach $1 billion mark
Wipro Infrastructure Engineering, backed by AI & manufacturing incentives by the government, aims for $1 billion growth. Linecraft.ai enhances analytics, cost control & forecasting. Divisions cover Wipro Hydraulics, Wipro PARI, Wipro 3D, Wipro Water, and Wipro Aerospace. Italian firm Ferretto Warehouse Automation Solutions was recently acquired under Wipro PARI.
IT sector’s challenges persist in Q4; guidance for FY25 in focus
HCLTech and Tata Consultancy Services (TCS) poised to dominate Indian outsourcing industry with expectations of revenue growth acceleration in FY25 driven by higher discretionary expenses and strong deal wins in the US market.
Wipro promotes over 30 senior executives to SVP, VP roles
Those elevated include Wipro's chief delivery officer Ajit Mahale, healthcare portfolio leader Anuj Kumar, Canada country head Kim Watson, Europe cloud sales head Srinivasaa HG, the head of its cloud arm's strategy and execution arm Satish Y and consulting unit Capco's chief financial officer (CFO) Benjamin Simon.
IT bluechips drag Sensex over 400 points lower, Nifty below 21,950
Despite losses, the Nifty breadth remained positive with 31 stocks trading in the green while remaining 19 in the red. The top five losers were all IT counters viz. HCL Technologies, Infosys, Tata Consultancy Services (TCS), Wipro and LTIMindtree while the top gainers were Sun Pharmaceuticals, Cipla, UPL, Bharti Airtel and Titan Company.
HCL Tech, TCS, Infosys, other IT stocks drop up to 5%. Blame it on Accenture
IT giants' shares drop as Accenture reduces FY24 revenue forecast, impacting Nifty IT index. Global peer's muted guidance affects market view. Analysts expect varied performance in FY25. Despite challenges, positive outlook for Indian IT sector growth prevails.
ADRs of Wipro, Infosys slump as Accenture cuts guidance on clouded outlook
The IT industry has been grappling with sluggish demand for software and consulting services as high interest rates discouraged enterprises from discretionary spending.
Growth, profitability drive up TCS, HCLTech valuation
Among the Big Five, Tata Consultancy Services (TCS) and HCLTech have enriched the loyalists, literally. The other three - Infosys, Wipro and Tech Mahindra (TechM) – haven’t yielded anything for those sticking with them since April 2022.
IT gives bears a bull hug: what is driving the rally in tech stocks?
Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes.
Wipro a 'bit more' optimistic about next fiscal year due to AI
Wipro is feeling a "bit more" optimistic about its next financial year as clients spend more on artificial intelligence (AI) to reduce operating costs, the head of the Indian IT firm's Americas 2 business told Reuters on Wednesday.
TCS to diversify to other markets amid US weakness
The plan to diversify more comes after the industry leader reported its slowest quarterly profit growth since 2020, and revenue contributions from its mainstay market, North America, have declined for four straight quarters.
Q3 results: HCLTech bucks trend, Wipro's woes continue
HCLTech, India's third-largest software exporter, outperformed expectations with a 6.2% rise in net profit and a 6.5% increase in revenues in Q3. Meanwhile, Wipro reported a steep 12% fall in profits and a 4.4% dip in revenue. HCLTech's success can be attributed to the $2.1-billion Verizon deal and an increase in headcount.
Accenture guides towards muted Q2 performance
Accenture reported revenues of $16.2 billion, an increase of 3% in dollar terms and 1% in local currency for its first quarter ended on November 30.
Cyient Q2 Results: Revenue jumps 27% to Rs 1,779 crore on sustainability, transport demand
The company's consolidated net profit saw an over two-fold rise to 1.78 billion rupees in the September quarter from a year earlier.
Wipro reports muted Q2, net profit almost flat at Rs 2,667 crore
India's fourth-largest software company also gave a tepid outlook, citing an "uncertain" business environment.
Wipro’s challenges as tough as top three, outlook also cloudy
Wipro’s second-quarter performance was significantly below the analysts’ already muted expectations. In addition, the country’s fourth largest software exporter provided a sombre outlook for the next quarter’s top line notwithstanding a sustained momentum in new deal wins.
Infosys ADRs slump 11% after drastic cut in FY24 revenue guidance
The Bengaluru-based software major has reported 11% year-on-year growth in net profit at Rs 5,945 crore for the quarter ended June. The profit is lower than the ET Now Poll estimate of 6,150 crore. Infosys’ earnings remained muted on a sequential basis in the June quarter, given a significant slowdown in business amid global macroeconomic headwinds.
Tech CEO pay packages reflect muted revenue growth outlook
IT giants, including TCS, Infosys and Tech Mahindra, spoke of demand uncertainty, delays in decision making and even project ramp-downs as they announced their latest quarter results.
In charts: IT firms face uncertain times
As an indicator of the weakening market, Infosys chief executive Salil Parekh took a pay cut of 21% in FY23 whereas outgoing TCS chief executive Rajesh Gopinathan saw a pay hike of 13%.
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