Mumbai, July 16 (IANS) IT major Wipro on Thursday reported a decline in its net profit for the first quarter of FY27, with consolidated PAT declining over 4 per cent sequentially despite a marginal rise in revenue.The company’s consolidated net profit declined 4.7 per cent quarter-on-quarter (QoQ) to Rs 3,352 crore in the April-June quarter, although PAT was flat from a year ago.Meanwhile, gross revenue rose 1 per cent sequentially and 10.6 per cent year-on-year (YoY) to Rs 24,480 crore.At the o…
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New Delhi, July 15 (IANS) India’s equity market benchmark Nifty is likely to touch 27,019 in one year up from earlier expectation of 26,449, due to improved macroeconomic conditions and valuations, a report said on Wednesday.The report from PL Capital said India’s structural growth story remains firmly intact, but the domestic economy continues to face near-term risks from geopolitical uncertainty, weather-related disruptions and inflationary pressures.Despite these challenges, improving domesti…
Mumbai, July 9 (IANS) Tata Consultancy Services (TCS), India’s largest software services exporter, on Thursday reported a consolidated net profit of Rs 13,349 crore for the first quarter of FY27, down around 3 per cent from Rs 13,718 crore recorded in the January-March quarter of the previous financial year (Q4 FY26). On a year-on-year basis, however, net profit rose 5 per cent from Rs 12,760 crore reported in the corresponding quarter last year (Q1 FY26).Revenue from operations increased 14 per…
New Delhi, June 22 (IANS) India must build its own foundational artificial intelligence (AI) models to avoid falling behind the United States and China, a new report has said.The report from global brokerage Bernstein urged policymakers to prioritise domestic model AI development, citing geopolitical restrictions seen on frontier AI systems.Anthropic’s frontier models were recently restricted for non-US citizens which proved that access to advanced AI cannot be taken for granted.The brokerage wa…
New Delhi, June 3 (IANS) IT services major Wipro has identified the rapid adoption of artificial intelligence (AI) as a key business risk, warning that flawed algorithms, bias, regulatory uncertainties and unintended outcomes from AI systems could expose the company to legal, financial and reputational challenges.In its FY26 annual report, the Bengaluru-based company said that while it is increasingly deploying generative and autonomous AI technologies across client solutions and internal operat…
New Delhi, May 6 (IANS) India’s total exports of merchandise and services increased by 4.6 per cent to a record high of $863.11 billion during the financial year 2025-26, compared with the corresponding figure of $825.26 billion for the previous fiscal year, despite the US tariff turmoil and uncertainties triggered by geopolitical tensions, the latest figures compiled by the Commerce Ministry showed.Merchandise exports registered a 0.93 per cent growth to $441.78 billion during the financial yea…
Visakhapatnam, April 28 (IANS) India is poised to emerge as major trusted value chain and supply chain partner to the world in electronic manufacturing, driven by strong policy support and visionary leadership, Union Minister Ashwini Vaishnaw said on Tuesday.Vaishnaw highlighted that India has already emerged as a leader in IT services and is now rapidly advancing in electronics manufacturing.He noted that India has made significant strides in mobile manufacturing, with mobile phones becoming on…
New Delhi, April 27 (IANS) The Federation of Indian Export Organisations (FIEO) on Monday welcomed the signing of the India–New Zealand Free Trade Agreement, calling it a strategic milestone that will expand market access, deepen economic ties and create opportunities for exporters, especially micro, small and medium enterprises.FIEO President, S C Ralhan said that the FTA will open new bilateral trade avenues for Indian exporters across agriculture, textiles, pharmaceuticals, engineering good…
Mumbai, April 22 (IANS) Shares of HCL Technologies tumbled sharply on Wednesday, falling more than 10 per cent to Rs 1,289 on the NSE, as investor sentiment turned negative following a disappointing quarterly performance and subdued growth outlook. The steep decline came after several brokerages downgraded the stock and cut their target prices, citing concerns over weak revenue growth, margin pressures and cautious forward guidance.The company’s earnings report highlighted multiple areas of co…
New Delhi, April 22 (IANS) Global IT spending is pegged to reach $6.31 trillion in 2026, an increase of 13.5 per cent from 2025, because of the accelerating adoption of artificial intelligence (AI), a report said on Wednesday.The surge is fuelled by rapid investments in AI infrastructure, advanced memory, and high-performance computing systems as enterprises scale AI workloads, according to a Gartner analysis.Segment-wise, data centre systems are expected to record the fastest growth, rising nea…