India Business News: Wipro stock price experienced a 1% drop on Monday, hitting a low of Rs 479 on the Bombay Stock Exchange. The sudden departure of CEO and Managing Director Thierry Delaporte caught investors off guard, leading to concerns about the company's immediate future, said an ET report. Many brokerage firms have issued sell ratings on Wipro's stock, anticipating a period of uncertainty before any potential turnaround.
"Companies flexed a few levers to defend margins. These include raising utilization rates, increasing productivity measures, lowering the average cost of resources, further cutting subcon costs (sufficiently optimized by now), and managing SG&A," said Kotak s Kawaljeet Saluja. Analysts are building in 60-110 bps margin expansion over FY2024-26E for TCS, Infosys, and HCL Tech.