INFY

May 29 (Reuters) - Infosys Ltd INFY.NS:

• LAUNCHES OVER 200 ENTERPRISE AI AGENTS

• LAUNCHES OVER 200 ENTERPRISE AI AGENTS, PART OF INFOSYS TOPAZ AI OFFERINGS, GOOGLE CLOUD

Source text: ID:nBSE6FGYsZ

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May 27 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS AND E.ON COLLABORATE

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May 2 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - COMPLETES ACQUISITION OF THE MISSING LINK

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April 30 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS COLLABORATES WITH YORKSHIRE BUILDING SOCIETY

Source text: ID:nBSE6rc3t1

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April 29 (Reuters) - Infosys Ltd INFY.NS:

• ANNOUNCING INFOSYS TOPAZ FOR SAP S/4HANA CLOUD

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Adds analyst comments, results details paragraph 4 onwards; updates shares

April 23 (Reuters) - Shares of HCLTech HCLT.NS jumped 8% on Wednesday after India's third-largest IT firm delivered a strong revenue growth forecast, standing out in a sector weighed down by cautious outlooks from bigger rivals.

India's $283 billion IT sector is staring at a potential slowdown as U.S. President Donald Trump's tariff policy threatens to hurt growth in the United States, the biggest market for the tech companies.

Companies like Infosys INFY.NS and Wipro WIPR.NS have forecast a weak year ahead, saying retail and manufacturing clients will be more exposed to tariff-related impact.

HCLTech, in contrast, forecast revenue growth of 2% to 5% for fiscal 2026, while analysts, on average, were expecting a rise of 0-2% as per LSEG data.

Estimates were revised down from projections of a growth of 3%-5% after larger peer Infosys flagged growth concerns last week.

"While putting the fears of a washout FY26 to rest, it implies HCLTech would outperform both TCS and Infosys at the upper of its guidance range," analysts at Motilal Oswal said.

Rival Wipro, which only gives quarterly forecast, projected its revenue to fall between 1.5% and 3.5% in the first quarter. Market leader TCS TCS.NS does not give a forecast.

The company expects to see "large opportunities" as clients use generative AI and other technologies to reduce costs in the tariff-driven environment, CEO C Vijayakumar said in a post-earnings conference call.

"Overall commentary suggests it will continue to deliver leading growth" among the top IT firms, analysts at Dolat Capital said.

HCLTech stock was on track for its best day since September 2020, leading gains on the Nifty IT index .NIFTYIT and the benchmark Nifty 50 .NSEI, which rose 4.4% and 0.2%, respectively.

Shares of TCS, Infosys and Wipro were up between 3%-4%.

($1 = 85.2510 Indian rupees)

(Reporting by Ashish Chandra, Kashish Tandon and Sai Ishwarbharath B in Bengaluru; Editing by Nivedita Bhattacharjee)

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Recasts throughout, adds analyst and CEO comments

By Sai Ishwarbharath B and Haripriya Suresh

BENGALURU, April 22 (Reuters) - HCLTech HCLT.NS, India's third-largest IT services company, posted slightly lower-than-estimated fourth-quarter revenue on Tuesday, but projected growth opportunities to emerge from the global macro overhang.

The company expects "large opportunities" as clients use generative AI and other technologies to reduce costs in the tariff-driven environment, CEO C Vijayakumar said in a post-earnings conference.

"As I look beyond the uncertain short-term, I strongly believe there will be strong growth opportunities emerging out of the market," he said.

However, HCLTech expects the tariff-led turmoil to impact retail and manufacturing verticals and spill over to the other segments after fully kicking in.

The company's consolidated revenue rose 6.1% to 302.46 billion rupees ($3.6 billion) in the fourth fiscal quarter. Analysts on average expected revenue of 302.75 billion rupees, according to data compiled by LSEG.

It expects revenue growth to be in the range of 2% to 5% for fiscal 2026 that started on April 1.

"The street expectations on HCLTech's guidance were really low after Infosys' tepid number last week. HCLTech has delivered guidance (that) looks the best among peers in a conservative environment overall," said Piyush Pandey, lead IT analyst at Centrum Broking.

Industry leader Tata Consultancy Services TCS.NS missed its quarterly earnings estimates and warned about clients delaying decision-making in discretionary projects. Larger peer Infosys INFY.NS has forecast flat to 3% revenue growth for fiscal year 2026.

HCLTech's quarterly net profit rose 8.1% to 43.07 billion rupees, compared with analysts' mean estimate of 43.56 billion rupees.

Deal wins for the quarter stood at $3 billion, compared with $2.1 billion a year ago.

Four of the company's seven segments grew during the quarter, with the telecom and media vertical expanding by 24.3%.

HCLTech shares closed 0.1% lower on Tuesday while the sub-index of IT stocks .NIFTYIT that ended 0.57% lower that day.

($1 = 85.1710 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Mrigank Dhaniwala and Shreya Biswas)

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** Shares of India's No. 2 IT services exporter Infosys Ltd INFY.NS close 2.2% higher at 1,451 rupees

** INFY has dropped 25% this year up to its previous session, the most among India's top 3 IT firms, and analysts see this as a good buying opportunity

** Stock's price-to-earnings multiple at around 20x, which brokerages say is in line with 10-20-year averages and cheapest compared to TCS TCS.NS (~23x) and HCLTech HCLT.NS (20.8x) - data compiled by LSEG

** J.P.Morgan (maintains "overweight" rating) analysts say they "would buy into weakness" in INFY's current share price

** Investec (upgrades to "buy") says its price target of 1,575 rupees is justified even after accounting for risks

** Valuations are "not very demanding," says HSBC (maintains "buy")

** INFY top boost to 10-member Nifty IT .NIFTYIT index, which closed up 2.2%

** Day's gains bring down INFY's YTD losses to ~23%, but it remains the worst-performing large-cap IT stock

(Reporting by Nandan Mandayam in Bengaluru)

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April 17 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS TO ACQUIRE LEADING ENERGY CONSULTING COMPANY, MRE CONSULTING

Source text: ID:nCNWcrwlMa

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BENGALURU, April 16 (Reuters) - Wipro WIPR.NS, India's fourth-largest software services provider, posted lower-than-expected revenue for the fourth quarter, hurt by macro uncertainties weighing on client spending.

The company's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter. Analysts, on average, expected revenue to come in at 226.21 billion rupees, as per data compiled by LSEG.

($1 = 85.6410 Indian rupees)

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

• Infosys Ltd INFY.N, INFY.K is expected to show a rise in quarterly revenue when it reports results on April 17 for the period ending March 31 2025

• The Bangalore Karnataka-based company is expected to report a 6.7% increase in revenue to $4.87 billion from $4.56 billion a year ago, according to the mean estimate from 7 analysts, based on LSEG data.

• ​LSEG's mean analyst estimate for Infosys Ltd is for earnings of 19 cents per share.

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 7 "hold" and no "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 Infosys Ltd is $21.81​, above​ its last closing price of $17.01. ​​​

Previous quarterly performance (using preferred earnings measure in US dollars). ​

This summary was machine generated April 15 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])

BENGALURU, April 10 (Reuters) - India's largest software services provider Tata Consultancy Services TCS.NS posted lower-than-expected revenue for the fourth quarter due to persistent weakness in North America, its largest market.

The company's consolidated revenue rose 5.3% to 644.79 billion rupees ($7.49 billion) in the quarter. Analysts, on average, expected 647.58 billion rupees, per data compiled by LSEG.

($1 = 86.1390 Indian rupees)

(Reporting by Haripriya Suresh; Editing by Devika Syamnath)

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April 9 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS AND AIB EXTEND STRATEGIC COLLABORATION FOR DIGITAL TRANSFORMATION

Source text: ID:nPrecqMzka

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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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April 2 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - INFOSYS AND FORMULA E LAUNCH AI-POWERED STATS CENTER

Source text: ID:nPLXB0A3B3

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March 27 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - INFOSYS POWERS LKQ EUROPE’S HR TRANSFORMATION WITH A UNIFIED DIGITAL PLATFORM

Source text: [ID:]

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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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** Morgan Stanley tweaks its India focus list of stocks to add IT company Coforge COFO.NS and airlines operator Interglobe Aviation INGL.NS

** Brokerage removes Infosys INFY.NS and automaker Mahindra & Mahindra MAHM.NS to accommodate the additions

** Brokerage remains positive on large private sector financials, consumer, industrial and IT stocks

** Large-deal momentum, increasing addressable market, execution track record bodes well for COFO's growth prospects, it says

** Adds, COFO's recent underperformance over IT stocks offers good entry point

** COFO down 25% in 2025 so far; IT .NIFTYIT lost 17%

** INGL's rising market share in India, one of the fastest growing aviation markets, to aid earnings over fiscal years 2025-2027, according to Morgan Stanley

** COFO little changed on the day, INGL is up 1.6%; INFY and MAHM up 0.4% and 1.9%, respectively

(Reporting by Bharath Rajeswaran in Bengaluru)

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March 14 (Reuters) - Indian IT services provider Infosys INFY.NS on Friday said it had reached an agreement with the plaintiffs of lawsuits pending against its U.S. unit over the 2023 cyber incident.

Infosys McCamish Systems has agreed to pay $17.5 million into a fund to settle all the pending class action lawsuits and resolve all allegations made in the incident.

In November 2023, Infosys had disclosed that Infosys McCamish Systems was impacted by a cyber security event, resulting in the non-availability of certain applications and systems.

In April last year, Infosys said McCamish, in coordination with its third-party vendor eDiscovery, identified up to 6.5 million individuals whose information was subject to unauthorized access and data exfiltration in the incident.

(Reporting by Ashish Chandra in Bengaluru; Editing by Maju Samuel)

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** India's Infosys INFY.NS slips nearly 4% to eight-month low of 1,598.30 rupees

** Motilal Oswal downgrades stock to "neutral" - its first downgrade in 11 years - on weak growth concerns

** Morgan Stanley also downgrades stock to "equal-weight" from "overweight" - its first downgrade in four years, as per reports

** Says valuations stretched, raises concerns over slowing growth

** Stock drops 6% in two days

** IT index .NIFTYIT down 2.3%

** Concerns that U.S. economy may slow and impact revenue growth for IT companies weighing on stocks

** INFY down 15% YTD, the same as IT index

(Reporting by Vivek Kumar M)

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** Shares of India's No.2 IT company Infosys INFY.NS rise 1.4% to 1,710 rupees; stock top pct gainer on Nifty IT index .NIFTYIT

** CLSA upgrades stock to "outperform" from "hold"; PT at 1,978 rupees

** Discretionary demand revival across key verticals and geographies intact, supporting continued growth for the IT services major - CLSA

** Adds, current valuation levels present attractive investment opportunity

** INFY's demand pipeline remains strong, especially in high-growth sectors such as cloud computing, data analytics, and enterprise resource planning - CLSA

** Analysts covering INFY on avg rate it "buy", while rivals HCLTech HCLT.NS and Wipro WIPR.NS rated "hold" on avg, per data compiled by LSEG

** INFY has shed 10% so far this year vs a 12.6% fall in NIFTYIT

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 28 (Reuters) - Infosys Ltd INFY.NS:

• GETS TAX ORDER WITH TOTAL PENALTY OF 6.1 MILLION RUPEES

Source text: ID:nBSE9Fp3q

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Feb 26 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - LAUNCHES OPEN-SOURCE RESPONSIBLE AI TOOLKIT

Source text: [ID:]

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Adds details

By Sai Ishwarbharath B and Haripriya Suresh

MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at a higher pace this fiscal year, driven by engineering research and development and the rising number of global capacity centres (GCC), or low-cost offshore hubs, industry body Nasscom said on Monday.

Nasscom expects the industry's revenue will grow 5.1% to $282.6 billion in fiscal 2025, compared with the previous fiscal's 4%, with revenue crossing $300 billion in fiscal 2026.

Software exports, comprising services and sale of products to clients, are expected to grow 4.6% to $224.4 billion in fiscal year 2025, the industry body said.

The sector is expected to add 126,000 jobs on a net basis, taking the total workforce to 5.8 million in fiscal year 2025, it added.

The industry's total headcount rose to 5.67 million in fiscal 2024 from 5.58 million a year earlier.

"Enhanced artificial intelligence implementation, the rise of Agentic AI, and the growing maturity of GCCs as value hubs are reshaping industry dynamics," said Sindhu Gangadharan, Chairperson, Nasscom.

Top Indian IT service providers such as Tata Consultancy Services TCS.NS, Infosys INFY.NS and HCLTech < HCLT.NS> have highlighted early signs of discretionary spending picking up and an improvement in the demand environment after a tepid 2024, in which growth nearly halved as clients held back spending and delayed decision making.

Agentic AI is considered the next frontier in artificial intelligence, allowing the system to operate autonomously and perform tasks on behalf of users through 'AI agents'.

AI's emergence has threatened to disrupt business models for Indian IT companies that largely serve clients in the United States for operations support, providing software as a service.

"The intersection of technology, geopolitics, and trade demands a bold response and enterprises must prioritise workforce tech transformation, build digital trust, and foster resilience to drive sustainable growth," Gangadharan said.

(Writing by Sethuraman NR; Editing by Janane Venkatraman)

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Feb 18 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS, LUFTHANSA GROUP, AND LUFTHANSA SYSTEMS COLLABORATE

• LSY AND INFOSYS WILL ESTABLISH A GLOBAL CAPABILITY CENTER IN BENGALURU

Source text: ID:nNSE10p6Zd

Further company coverage: INFY.NSLHAG.DE

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MUMBAI, Feb 10 (Reuters) - The increasing use of generative artificial intelligence (GenAI) could boost the productivity of India's $254-billion software by 43%-45% over the next five years, according to a survey by consulting firm EY India.

This productivity boost, which EY India's survey states will span 500 roles, will come through the dual effect of the IT industry itself integrating elements of GenAI internally and as more client projects move from proof of concept to production.

Top IT companies such as Tata Consultancy Services TCS.NS and Infosys INFY.NS have highlighted the use of AI by clients to do new projects and EY India said 89% of them have started trialling GenAI projects, with 33% of those already in production.

"Enterprises are moving beyond experimentation to putting AI into production at scale. The rapid transition from POC to enterprise-wide adoption reflects the industry's confidence in AI's potential," Abhinav Johri, a technology consulting partner at EY India, said in a statement.

Within the sprawling IT industry, EY India's survey showed that roles in software development will get the biggest productivity boost, of roughly 60%, followed by a 52% improvement for BPO services and 47% for IT consulting.

This trio -- software development, BPO services and IT consulting -- will account for 50%-60% of the overall productivity improvement in tech services, the survey showed.

The increasing use of AI is not only helping the IT industry enhance customer service but is also lowering costs and improving revenue growth, according to executives surveyed by EY India.

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

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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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By Divya Chowdhury and Haripriya Suresh

DAVOS, Switzerland, Jan 21 (Reuters) - Infosys INFY.NS expects the way the tech industry manages talent to shift and has already begun experimenting with how this transformation will occur, its chief technology officer said in an interview Davos, Switzerland.

India's No.2 software services exporter is one of several IT companies that use the 'pyramid' model - where a company employs the highest number of staff at entry level, and fewer at each subsequent level.

This model, which allowed IT companies the scale they needed to become tech behemoths, could now change.

"I think see the talent model will undergo some change. What shape and form it comes (in), I think, that's something that we'll have to see," Infosys CTO Rafee Tarafdar told the Reuters Global Markets Forum.

"We are experimenting internally," he said on the sidelines of the World Economic Forum's annual meeting at Davos.

Jobs in the tech industry were expected to be impacted from the use of generative AI, but Tarafdar said the situation is continuing to evolve as the company has had to create roles that previously did not exist, such as in responsible AI.

Infosys is trying to ensure upskilling of its staff while simultaneously creating specialists in new roles, Tarafdar said.

"In that way, I would say between the continuum, everybody is moving - either re-skilling or evolving their current skills, or we are hiring completely new type(s) of people," he said.

Infosys recently built four small language models for banking, IT operations, cyber and enterprises broadly, which it said it is providing as a service to clients.

Looking ahead, Tarafdar expects more talent will be required in the areas of responsible AI and model engineering.

(Join GMF, a chat room hosted on LSEG Messenger, for live interviews: https://lseg.group/4ajdDTy)

(Reporting by Divya Chowdhury in Davos and Haripriya Suresh in Mumbai; Editing by Jan Harvey)

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Jan 20 (Reuters) - Wipro's shares WIPR.NS surged about 8% on Monday, set for their best day in nearly four years, after India's No. 4 IT services company joined its peers in signaling a revival in demand.

The company beat third-quarter revenue and profit estimates on Friday and CEO Srinivas Pallia said, "We see discretionary spending slowly coming back" after facing macroeconomic challenges in 2024.

Wipro's shares were also among the top percentage gainers on the benchmark Nifty 50 .NSEI index, which was trading flat. At least eight brokerages raised their rating on Wipro's stock, while 16 raised their price targets, as per LSEG data.

"Wipro is witnessing a pick up in discretionary spends in its BFSI (banking, financial services and insurance) segment - evident from 11% y/y growth in revenue," Jefferies analysts said in a note, raising both their rating and price target.

The BFSI segment accounts for about a third of the company's revenue.

Wipro's bet of a more promising 2025 echoed similar indications from larger peers TCS TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS.

India's $254 billion IT services sector has faced sluggish growth for several quarters due to global macroeconomic uncertainties and inflationary pressures, which have pushed clients to rein in spending.

($1 = 86.4390 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)

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