Mohit Joshi, CEO and managing director of Tech Mahindra, has dismissed fears around Anthropic’s new AI tool, calling the sharp sell-off in IT stocks a market overreaction. He said artificial intelligence represents a technology shift that will ultimately act as a tailwind for IT services and software companies rather than replace them.
The Bengaluru-based software exporter reported a consolidated net profit (attributable to equity shareholders) of Rs 3,119 crore for the December quarter, down 7 per cent from Rs 3,358 crore in the same period last year.
JM Financial said Wipro’s Q3 results were lacklustre and highlighted persistent growth challenges, noting that strong last twelve month deal bookings were yet to translate into revenue.
Infosys ADRs were trading 0.79 per cent lower at $17.69 in the pre-market. Wipro ADRs stood at $2.88, up 0.35 per cent on NYSE.
MOFSL said AI services demand could begin to improve from mid-2026 as hardware-led AI capex intensity moderates. The March-April 2026 budget reset period may serve as an initial indicators, it said.
Shares of HCL Tech and Wipro have fallen 12–13 per cent so far in 2025, which is relatively better than the 14.25 per cent decline in the BSE IT index over the same period.
LTTS climbed 4 per cent to hit a high of Rs 4,687.05. Coforge Ltd, Mphasis and Persistent Systems Ltd, HCL Technologies and TCS added 2 per cent each. Wipro and Infosys rose 1 per cent each. Cyient was flat.
Nomura's preferred picks were Infosys and Cognizant (unlisted) among large caps, Coforge among mid-caps and eClerx among small caps. The brokerage retained its contrarian Buy on Wipro.
According to the filing, the engagement marks a major shift in Odido’s technology strategy, with Wipro set to deploy its AI-led platforms and consulting capabilities to modernise digital and enterprise systems.
The IT stock ended 1.77% higher at Rs 250.15 on Wednesday against the previous close of Rs 245.80. Market cap of the firm stood at Rs 2.62 lakh crore.
The partnership leverages Wipro Intelligence WINGS, the company’s proprietary AI platform, and marks a key milestone in HanesBrands’ strategic IT 2.0 transformation initiative.
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