Today's sharp outperformance in the IT sector was driven by overnight rally in tech stocks on the Wall Street and company-speciific developments back home.
Stocks to Watch today, May 29, 2026: Ashok Leyland, Alkem Laboratories, PhysicsWallah, GMR Airports, InterGlobe Aviation, NMDC, and Glenmark Pharma are among the top stocks to remain in focus today
The Lucknow bench of the Allahabad High Court on Wednesday quashed criminal proceedings against Wipro chairman Azim Premji and other senior company officials, initiated in connection with alleged violations of labour laws. The court also set aside the summons issued by a magistrate court in the matter. The order was passed by Justice Jafeer Ahmad on a petition filed by Premji and others. The case originated from a complaint filed by the labour department, alleging non-compliance with labour laws at Wipro's Ghaziabad office. Acting on the complaint, a local magistrate court issued a summons to Premji and a few other company officials, following which the order was challenged before the high court. In its judgment, the high court observed that in matters relating to technical violations of labour laws, top executives, such as a company chairman, cannot be held criminally liable unless there are specific allegations showing their direct involvement. The court noted that the complain
Indian IT stocks have fallen up to 34 per cent in 2026 as AI disrupted outsourcing model. Analysts remain cautious on FY27 outlook. They prefer TCS, Infosys, HCLTech, Coforge
Wipro has set the buyback price at ₹250 per share, implying a premium of 23 per cent over the stock's previous closing price of ₹203.11 per share
Srini Pallia, the insider leading the company, is focusing on large deals to boost revenue
The Nifty IT index has corrected 27 per cent on a Y-T-D basis, in comparison, the Nifty 50 index has declined 9.5 per cent in the same period.
In 2026 so far, TCS, Infosys, HCL Tech, Tech Mahindra, and Wipro have declined in the range of 17 per cent to 33 per cent. In comparison, the Nifty 50 index has dived 10 per cent, data showed.
Nifty IT index has fallen nearly 25 per cent year-to-date, compared with an 8.85 per cent decline in the benchmark Nifty50
At the top of the list is Bharat Petroleum Corporation (BPCL), which offers the highest dividend yield of 7.5 per cent
LTIMindtree was the top loser, down nearly 6 per cent, followed by Coforge, Infosys, and Mphasis, falling over 5 per cent each
Stable margins and deal wins offer support, but weak guidance, BFSI slowdown and slow deal conversion weigh on near-term outlook
The selling on the counter came after Wipro posted its January-March quarter (Q4FY26) results on Thursday, after market hours
Stocks to watch today: Wipro, Angel One, Jio Financial Services, Max Healthcare, HDFC AMC, HDFC Life, BPCL, Waaree Renewable and RVNL are among the key stocks in focus today.
Wipro reports marginal Q4 profit decline and muted revenue growth, flags weak Q1FY27 guidance amid geopolitical uncertainty and slow ramp-up of large deals
Wipro plans Rs 15,000 crore share buyback, its largest ever, offering 19 per cent premium to market price as it looks to reward shareholders and support stock performance
The IT company's profit in the year-ago period stood at Rs 3,569.6 crore.
Wipro is expected to report revenue of ₹24,262 crore in Q4FY26, up 3 per cent on a sequential basis and 7.8 per cent year-on-year, supported by higher contribution from the Harman acquisition
Stocks to Watch today: Wipro, ICICI Lombard General Insurance, HDB Financial Services, Tejas Networks, Brigade Enterprises, SAMHI Hotels, Delhivery are among the key stocks in focus today.
Q4FY26 company results: Firms including Angel One, Waaree Renewable Technologies, VST Industries, and Alok Industries are also to release their January-March earnings today