Under the deal, more than 5,600 employees from the DTS unit across the Americas, Europe and Asia will move to Wipro once the transaction is completed by year-end
However, thus far in the calendar year 2025, Nifty IT index has underperformed the market by falling 18 per cent, as against 5.5 per cent rally in Nifty 50.
The sector is trading at a discount to the BSE Sensex and trailing price/earning (P/E) multiple for the first time in the past four years
Sectors such as automobile, manufacturing, and retail are already bearing the brunt of tariffs - this was called out by IT executives during their earnings conferences last month
Markets remained volatile on Wednesday and ended lower amid mixed cues. After a flat start, the Nifty oscillated within a range and eventually settled near the lower end at 24,574.20.