Nuvama noted that IT services companies outperformed expectations in Q2, supported by stronger growth, margin expansion, and healthy deal wins
Since September 30, the Nifty IT index has outperformed the market by surging 6.4 pee cent as compared to a 4-per cent rise in the Nifty 50 index
Rishad Premji and Srini Pallia to lead Wipro's leadership team at NYSE on October 31 as the company celebrates 25 years of listing and 80 years since its founding
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Among individual stocks, Infosys has risen by 4 per cent, while Tata Consultancy Services (TCS) and HCL Technologies have risen by 5.8 per cent and 9.8 per cent, respectively thus far in October
Analysts remain mixed on IT stocks' outlook, with some cautioning that the optimism around the technology pack could be short-lived
Wipro's share price fell after its net profit was up 1.15 per cent compared to the same quarter last year
Around 7:20 AM, GIFT Nifty futures were down 41.6 points at 25,614.5, indicating a negative start.
Wipro's Q2FY26 profit rose 1.15% to Rs 3,246 crore and revenue grew 1.7% to Rs 22,697 crore, supported by strong deal wins worth $2.9 billion and steady performance in BFSI
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Analysts forecast a sequential decline in Wipro's Ebit margin despite rupee depreciation, mainly due to upfront costs linked to large deals, analysts said
However, thus far in the calendar year 2025, the IT index has underperformed the market by falling 20 per cent, as against 4.7 per cent rise in the BSE Sensex