WIPRO

July 24 (Reuters) - Wipro Ltd WIPR.NS:

• WIPRO WINS MULTI-YEAR “SMART GRID” DEAL FROM SAUDI ELECTRIC COMPANY

Source text: ID:nnAZN499O8V

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BENGALURU, July 23 (Reuters) - India's Infosys INFY.NS narrowed its forecast for the current fiscal year on Wednesday, after posting bigger-than-expected first-quarter revenue on a boost from Europe market.

The Bengaluru-based firm changed its annual forecast to 1%-3% from the flat-to-up-3% range announced in the previous quarter.

Analysts were largely expecting the firm to lift the bottom end of the range to 1%.

The company's consolidated sales rose 7.5% year-on-year to 422.79 billion rupees ($4.89 billion) in the June quarter.

Analysts, on average, expected 418.06 billion rupees, as per data compiled by LSEG.

($1 = 86.3880 Indian rupees)

(Reporting by Sai Ishwarbharath B ; Editing by Nivedita Bhattacharjee )

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BENGALURU, July 17 (Reuters) - Wipro WIPR.NS reported better-than-expected revenue on Thursday for the first quarter, supported by strong growth in the Americas, including its communication and consumer businesses.

Consolidated revenue at India's fourth-largest IT services provider stood at 221.35 billion rupees ($2.57 billion), rising 0.8% from a year earlier and topping analysts' average estimate of 220.59 billion rupees, according to LSEG data.

($1 = 86.0390 Indian rupees)

(Reporting by Haripriya Suresh)

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BENGALURU, July 16 (Reuters) - The demand outlook for India's $283-billion IT sector remains uncertain due to U.S. tariff risks and global geopolitical factors, a senior Wipro WIPR.NS executive said on Wednesday.

"Customers are getting acclimatised to living in a world that is uncertain," said Rishad Premji, executive chairman of the country's fourth-largest IT firm by revenue.

"The (overall) environment remains uncertain. It has not gotten any worse but not gotten significantly better at the moment."

He was speaking at the company's annual shareholder meeting ahead of first-quarter results scheduled to be announced on Thursday.

Clients have tightened non-essential or discretionary spending and are focussing more on cost-cutting projects enabled through tech, said Premji.

Uncertainty around U.S. tariffs have dashed hopes of IT companies of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects.

Premji, however, said green shoots had emerged in pockets in terms of discretionary spending.

Indian IT companies have so far reported tepid earnings for the June quarter.

Last Thursday, bellwether Tata Consultancy Services TCS.NS missed quarterly revenue estimates as its clients stayed cautious about non-essential spending amid U.S. tariff-related uncertainty.

TCS CEO K Krithivasan said delays in decision-making and project starts "intensified" in the June quarter, adding that it was "too early" to predict when the growth would resume.

HCLTech HCLT.NS reported June-quarter profit below analyst estimates on Monday and lowered its operating margin forecast for fiscal 2026.

(Reporting by Sai Ishwarbharath B; Editing by Subhranshu Sahu)

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Recasts throughout; adds CEO, analyst comments

By Sai Ishwarbharath B and Haripriya Suresh

BENGALURU, July 10 (Reuters) - Tata Consultancy Services TCS.NS, India's top software-services exporter, missed quarterly revenue estimates on Thursday as its clients stayed cautious about non-essential spending amid tariff-related uncertainty.

The revenue shortfall at TCS, the first Indian tech major to report results, raised concerns about future demand for the country's $283 billion IT sector and dragged down U.S. listed shares of rivals Infosys INFY.NS and Wipro WIPR.NS.

"The trend of delays in decision-making and project starts with respect to discretionary spends has continued and intensified in this quarter," CEO K Krithivasan said on a conference call.

While it is "too early" to predict when growth will resume, the passage of the U.S. spending bill could provide some clarity by the end of July or early August, Krithivasan said.

Consolidated sales in the first quarter rose 1.3% to 634.37 billion rupees ($7.40 billion), missing analysts' average estimate of 646.66 billion rupees, according to data compiled by LSEG.

Uncertainty around U.S. tariffs has quashed IT companies' hopes of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects.

TCS's revenue in four out of its six verticals fell compared to the same period last year, while banking and financial services' revenue grew 1% and tech services rose 1.8%.

Its total order bookings stood at $9.4 billion during the quarter, versus $12.2 billion in the previous quarter and $8.3 billion in the year-ago period.

"The weak topline numbers highlight cautiousness among clients," said Sagar Shetty, research analyst at StoxBox.

"This theme would likely spill over to (other) tier 1 companies as well. Drag in deal wins also undermines revenue visibility, which might warrant revision in upper end of guidance (for other companies)," Shetty said.

HCLTech HCLT.NS, Infosys and Wipro report results later in July. U.S.-listed shares of Infosys fell 3.3%, while those of Wipro were down 4.2% as of 1920 IST.

TCS's net profit rose 6% to 127.60 billion rupees, while analysts expected 122.16 billion rupees. The profit beat was largely tied to a wage hike delay and a jump in other income.

($1 = 85.6690 Indian rupees)

(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Dhanya Skariachan, Mrigank Dhaniwala and Saumyadeb Chakrabarty)

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June 10 (Reuters) - Wipro Ltd WIPR.NS:

• EXTENDS PARTNERSHIP WITH METRO AG FOR TWO YEARS

• WIPRO WILL CONTINUE TO PROVIDE METRO WITH INTEGRATED DIGITAL SERVICES

Source text: ID:nBSEhVgqm

Further company coverage: WIPR.NS

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June 9 (Reuters) - Wipro Ltd WIPR.NS:

• WIPRO - WIPRO STRENGTHENS MIDDLE EAST PRESENCE WITH NEW REGIONAL HEADQUARTERS IN RIYADH

Source text: [ID:]

Further company coverage: WIPR.NS

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May 29 (Reuters) - Wipro Ltd WIPR.NS:

• LAUNCHES GLOBAL INNOVATION NETWORK

Source text: ID:nBSEZMtxD

Further company coverage: WIPR.NS

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** Wipro WIPR.NS slides nearly 6%, top pct loser on benchmark Nifty 50 .NSEI and Nifty IT .NIFTYIT indexes

** Nifty 50 down 0.5%, while IT stocks slide 2%, with all 10 members lower

** Wipro, India's No.4 IT firm forecast Q1 rev to decline 1.5%-3.5% sequentially and warns of cautious client spending

** Dolat Capital had forecast rev to range between a 1% drop and 1% growth

** Jefferies says outlook was "weaker-than-expected" and a "key negative surprise"

** At least 9 of the 39 analysts covering WIPR downgrade their rating, while 20 cut their PTs -LSEG data

** Analysts avg rating remains 'hold, but median PT drops to 250 rupees from 290 rupees a month back -LSEG data

** All IT stocks are down 20%-40% YTD, with Wipro's 23% drop the second lowest

(Reporting by Hritam Mukherjee in Bengaluru)

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April 16 (Reuters) - Wipro Ltd WIPR.NS:

• WIPRO EXEC: GLOBAL INDUSTRY ENVIRONMENT UNCERTAIN FOR MOST OF YEAR, TARIFF ANNOUNCEMENT ADDED TO THAT

• WIPRO EXEC: EVEN THOUGH UNDERLYING DEMAND REMAINS STRONG, CLIENTS ARE APPROACHING IT MORE CAUTIOUSLY

• WIPRO EXEC: CAPCO CONTINUES TO PERFORM WELL, GREW 11.5% Y/Y IN Q4

• WIPRO EXEC: GIVEN UNCERTAINTY, EXPECT CLIENTS TO TAKE MEASURED APPROACH GOING FORWARD

• WIPRO EXEC: APPROX 10000 FRESHERS WERE HIRED IN FY25, CONTINUE TO SEE THAT

• WIPRO EXEC: ONE CLIENT IN CONSUMER ASKED TO PAUSE A LARGE TRANSFORMATION PROGRAM

• WIPRO EXEC: IN BFS, DISCRETIONARY SPEND IS BEING DEBATED INTERNALLY FOR CLIENTS

• WIPRO EXEC: AS A COMPANY, CHALLENGE CONTINUES TO BE IN EUROPE

• WIPRO EXEC: MORE THAN TARIFFS, UNCERTAINTY IS CAUSING IMPACT ACROSS SECTORS

• WIPRO EXEC: SEEING CLIENT SPECIFIC ISSUES IN BFSI EUROPE, WHICH IS IMPACTING GROWTH RATE FOR VERTICAL

Source text: [ID:]

Further company coverage: WIPR.NS

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• Wipro Ltd WIT.N, WIT is expected to show a fall in quarterly revenue when it reports results on April 16 for the period ending March 31 2025

• The Bangalore Karnataka-based company is expected to report a 1.9% decrease in revenue to $2.623 billion from $2.67 billion a year ago, according to the estimate from one analyst, based on LSEG data.

• ​LSEG's mean analyst estimate for Wipro Ltd is for earnings of 4 cents per share.

• The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and 5 "sell" or "strong sell."

• The mean earnings estimate of analysts was unchanged in the last three months. ​

• Wall Street's median 12-month price target for Wipro Ltd is $2.89​, above​ its last closing price of $2.84. ​​​

This summary was machine generated April 14 at 10:32 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact [email protected])

Recasts throughout; adds CEO, analyst comments

By Haripriya Suresh and Sai Ishwarbharath B

BENGALURU, April 10 (Reuters) - India's top software-services exporter Tata Consultancy Services TCS.NS reported weaker-than-expected quarterly results on Thursday and warned uncertainty around U.S. tariffs was prompting clients to rethink discretionary projects.

The $283 billion Indian IT sector was counting on the Trump administration's business-friendly policies to revive client confidence and spending in its biggest market, but the U.S. tariff saga has soured expectations of any immediate upswing in fortunes.

"We had spoken about improving market sentiments and early signs of discretionary spend revival in January. This was not sustained due to many of the discussions around tariffs," TCS CEO K Krithivasan said in a press conference. "We are observing delays in decision-making and project-starting with respect to discretionary investments."

Krithivasan said the uncertainty was likely to settle over the "next few months" and he expects fiscal 2026 to be better than the prior year. The comments came a day after Trump said he would temporarily lower the hefty duties imposed on dozens of countries while ramping up pressure on China.

Industry watchers agreed.

"There should be some stability after two quarters as the dust from tariffs settle," NelsonHall analyst Gaurav Parab told Reuters.

TCS is the first major Indian IT firm to announce results for the fourth quarter. Smaller rivals Infosys INFY.NS, HCLTech HCLT.NS, Wipro WIPR.NS and Tech Mahindra TEML.NS will report in the coming weeks.

The Tata Group firm's net profit fell 1.69% to 122.24 billion rupees ($1.42 billion), while analysts on average expected 126.54 billion, per data compiled by LSEG. Revenue rose 5.3% to 644.79 billion rupees, missing analysts' estimates of 647.58 billion rupees.

Deal wins for the quarter stood at $12.2 billion, down from a record $13.2 billion in the same period last year.

Citing the uncertain business environment, TCS said it was yet to decide on annual wage hikes.

The company named Aarthi Subramanian as its chief operating officer and Mangesh Sathe as its chief strategy officer, effective May 1.

($1 = 86.2220 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B ; Editing by Dhanya Skariachan and Devika Syamnath)

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Corrects syntax in paragraph 1

By Haripriya Suresh

BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.

Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.

That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.

The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.

The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.

"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.

At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.

Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.

"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.

He added the impact of a potential slowdown could be apparent by the September quarter.

India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.

(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)

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** Wipro's shares WIPR.NS rise 1.5%, top gainer on the IT index .NIFTYIT, which is up 0.3%

** The No.4 IT services provider wins 10-year deal worth $650 mln from British insurer Phoenix Group PHNX.L, it's second "mega deal" this fiscal year

** Wipro also joint top gainer on benchmark Nifty 50 .NSEI, which is up 0.3%

** Stock rated "hold" on avg by 39 analysts -LSEG data

** Stock down ~11% in 2025 vs ~14% drop in IT index

(Reporting by Yagnoseni Das in Bengaluru)

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BENGALURU, March 26 (Reuters) - Wipro WIPR.NS, India's No.4 IT services provider, won a 10-year deal worth 500 million pounds ($645.4 million) from British insurer Phoenix Group PHNX.L, the company said on Wednesday, announcing its second mega deal this financial year.

Mega deals, which are typically worth more than $500 million, are key revenue drivers for IT services companies. In June 2024, Wipro announced a $500 million deal with a U.S. communications service provider.

The latest deal is for Phoenix Group's ReAssure business where Wipro will work on life and pension business administration.

Wipro will increase its presence in the United Kingdom and will set up hubs for both operations and technology which will staff employees from both companies, it said in a statement.

Some employees from Phoenix will also transition to Wipro, it said, but did not divulge numbers.

Wipro's Mumbai-listed shares closed 1.3% down on Wednesday. The statement came after the Indian stock market closed for the day.

($1 = 0.7747 pounds)

(Reporting by Haripriya Suresh; Editing by Savio D'Souza)

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By Haripriya Suresh and Bharath Rajeswaran

BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.

Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.

Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.

"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.

India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.

Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.

Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.

According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.

Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".

(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)

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March 19 (Reuters) - Wipro Ltd WIPR.NS:

• ANNOUNCES NEW AGENTIC AI SERVICES FOR GLOBAL DEPLOYMENT

• AI SERVICES POWERED BY WEGA STUDIO AND NVIDIA AI

• WIPRO BRINGS SOVEREIGN AI SERVICES WITH NVIDIA AI TO GOVERNMENTS AND ENTERPRISES AROUND WORLD

Source text: ID:nBSE3BgGz9

Further company coverage: WIPR.NS

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March 14 (Reuters) - Wipro Ltd WIPR.NS:

• WIPRO - WIPRO REALIGNS BUSINESS LINES TO AUGMENT GO-TO-MARKET CAPABILITIES

• WIPRO LTD - REALIGNMENT EFFECTIVE FROM APRIL 1, 2025

• WIPRO - WIPRO WILL CONTINUE TO OPERATE WITH FOUR GBLS, ORGANIZED AROUND CLIENT BUYING BEHAVIOR

Source text: ID:nBSE9mxYwr

Further company coverage: WIPR.NS

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March 13 (Reuters) - ColorTokens:

• COLORTOKENS - PARTNERS WITH WIPRO

Source text: ID:nPn73K2F9a

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Feb 26 (Reuters) - Wipro Ltd WIPR.NS:

• WIPRO LTD - COMMITS $200 MILLION TO WIPRO VENTURES

Source text: ID:nNSE4fgk6q

Further company coverage: WIPR.NS

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MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at 5.1% this fiscal year, driven by engineering research and development as well as rising global capacity centres, its main industry body said on Monday.

The National Association of Software and Service Companies (Nasscom) expects the industry's revenue to grow to $282.6 billion in fiscal 2025 and cross $300 billion in fiscal year 2026.

(Reporting by Haripriya Suresh and Sai Ishwarbharath; Editing by Janane Venkatraman)

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Feb 20 (Reuters) - ITCONS e-Solutions Ltd ITCO.BO:

• SECURES WORK ORDER WORTH 6.4 MILLION RUPEES FROM WIPRO FOR MANPOWER SERVICES

Source text: ID:nBSEbnR2SG

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Adds details, executive comment in paragraph 3,4

Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.

Persistent high capital costs continue to strain IT spending, prompting enterprises to rethink spending on consultancy services while prioritizing investments in AI-related projects.

Still, an increase in spending by clients in the financial services sector helped Cognizant win more large deals in the fourth quarter than a year earlier, powering its quarterly revenue above Wall Street expectations.

"In North America, we are seeing an improved pipeline of opportunities for transformation and modernization projects across both insurance and select ADRs of banking and financial services clients," finance chief Jatin Dalal said.

The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.

Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with analysts' average estimate of $1.12 per share.

The New Jersey-based company said it expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared with analysts' average estimate of $5.06 billion.

Cognizant expects its 2025 revenue to be between $20.30 billion and $20.80 billion, lower than estimates of $20.89 billion compiled by LSEG.

It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with analysts' average estimate of $4.99 per share.

(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)

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Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.

Persistent high capital costs continue to strain IT spending, prompting enterprises to cut back on consultancy services while prioritizing investments in AI-related projects.

Cognizant's shares fell 1.2% in extended trading.

Uncertainty around rate cuts by the U.S. Federal Reserve this year is exacerbated by President Donald Trump's changes to immigration policies, tariffs and other initiatives, forcing companies to limit spending.

The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.

Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share.

The New Jersey-based company expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared to analysts' estimates of $5.06 billion.

Cognizant expects its 2025 revenue to be between $20.3 billion and $20.8 billion, lower than estimates of $20.89 billion.

It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with estimates of $4.99 per share.

(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)

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Jan 30 (Reuters) - Wipro Ltd WIPR.NS:

• TRANSACTION FOR APPLIED VALUE TECHNOLOGIES NOW EXPECTED TO COMPLETE BY MARCH 31, 2025

Source text: [ID:]

Further company coverage: WIPR.NS

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Jan 28 (Reuters) - Wipro Ltd WIPR.NS:

• UNIT DESIGNIT SWEDEN AB VOLUNTARILY LIQUIDATED

Source text: [ID:]

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Jan 23 (Reuters) - Wipro Ltd WIPR.NS:

• STEP-DOWN SUBSIDIARY DESIGNIT SWEDEN AB VOLUNTARILY LIQUIDATED

Source text: ID:nNSE9Ht3qc

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Updates for markets open

Jan 20 (Reuters) - Indian shares opened higher on Monday as Kotak Mahindra Bank's results boosted private banks and Wipro's better-than-expected quarterly profit helped lift IT stocks.

The Nifty 50 .NSEI rose 0.38% to 23,290.4 points as of 9:16 a.m. IST, while the BSE Sensex .BSESN added 0.47% to 76,978.53.

The broader, more domestically focussed smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 rose 0.3% and 0.6%, respectively.

All the 13 major sectors advanced at the open. The private bank index .NIFPVTBNK rose 1.1%, while IT stocks .NIFTYIT rose 0.5%.

Kotak Mahindra Bank KTKM.NS jumped 7.5% after reporting a 10% rise in quarterly profit, helped by higher lending income.

Wipro WIPR.NS surged 7% after beating third-quarter estimates for revenue and profit.

Kotak and Wipro were the top gainers on Nifty 50.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'Souza)

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