India Today
중도 성향
기타
Pressure to convert, forced exit: Wipro Pune ex-employee's charges against boss
Pressure to convert, forced exit: Wipro Pune ex-employee's charges against boss
"WIPRO" · 총 11건
필터 보기현재 지수
50.3
0 = 부정 우세
50 = 중립
100 = 긍정 우세
최근 7일 기준 87,400건을 분석한 결과, 뉴스 심리지수는 50.2(균형)입니다. 긍정 4,360건(5.0%)·중립 80,895건(92.6%)·부정 2,145건(2.5%)이며, 중립 비중이 뚜렷하게 높습니다. 성향 지수는 종합 14.7(중도 균형)입니다.
Pressure to convert, forced exit: Wipro Pune ex-employee's charges against boss
Former Wipro employee in Pune alleges religious harassment, pressure to convert to Islam and coercion by boss, files police complaint as Wipro cites zero tolerance and cooperation.
Pune: A woman who worked with Wipro has made serious allegations against her former boss
TCS remained India's undisputed leader in revenue and profitability.
India's IT giants Infosys, TCS, and Wipro have collectively deployed over 300,000 Microsoft 365 Copilot licenses, marking a rapid enterprise AI rollout. These companies are integrating AI into core workflows, moving beyond tool deployment to an AI-driven operating model. This significant adoption signals India's leadership in scaling agentic AI across Asia and globally.
The shares of Indian IT companies including Infosys, TCS and others continued to record sharp gains on Tuesday, pushing the Nifty IT over 3% higher even as the broader Nifty index slipped into the deep red.The Nifty IT index extended gains for the third consecutive session, jumping around 7% during the period to hit a high of 30,785 on Tuesday. Nifty crashed 3% during the same time to trade below 23,250.Infosys shares gained more than 4% to trade at Rs 1,257.90 apiece in the morning trading hours of Tuesday. The heavyweight IT stock has now gained nearly 9% in just three sessions. The shares of Tata Consultancy Services (TCS) meanwhile jumped around 3.5%.Mphasis and LTI Mindtree shares jumped nearly 3% each, while HCL Technologies, Coforge, Tech Mahindra and Persistent Systems shares jumped around 2% each. Wipro shares were trading in the green with marginal gains.What’s driving the rally in IT stocks?The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies.While analysts continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”The latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates."Indian IT firms are following suit of American companies like Anthropic and OpenAI by taking up contracts and tie-ups which are perceived as promising by investors," said Gaurav Sharma, head of Research, Globe Capital.Arbind Maheswari from BofA Securities told ET Now that the market globally is attracting flow towards only one story, at the front and centre of it is tech and AI. It is hard to pull away from that fact with a near-term vision. “There are people who believe that the whole business model of Indian IT services is put to question by the AI trade. The other side is that IT services companies will evolve and adapt and they have enough cash flow, they have the resilience, and they have shown this in the past where there were threats that seemed existential for the IT services space. This time obviously it is much bigger and it could last longer but I am sure there is enough that these companies have in them both in terms of depth of management and business models that they can evolve to adapt to the new AI world,” he added.Wipro to acquire additional stake in Aggne Global for $28.5 millionWipro announced that it will acquire an additional 20% stake in US-based insurtech company Aggne Global Inc through an all-cash transaction worth $28.5 million. The company said the transaction is expected to be completed by June 5.Earlier this year, the company acquired Mindsprint for $375 million as part of a broader $1 billion transaction with its parent, Olam Group. It also purchased select customer contracts from US-based Alpha Net Consulting LLC and its subsidiaries for $71 million.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mumbai: Information technology stocks surged on Monday, dodging a weak broader market, with the Nifty IT index closing at its highest level since April 23, as attractive valuations and recent AI-led partnerships drew investor interest and prompted traders to build some fresh long positions.The Nifty IT index advanced 2.7%, its strongest single-day gain in nearly two weeks (since May 19), even as the benchmark Nifty declined 0.7%. Tech Mahindra, Infosys and LTM rose 3.7% each, while Persistent Systems gained 3.6%. Coforge and Oracle Financial Services Software advanced 2.6% and 2.1%, respectively."Indian IT firms are following suit of American companies like Anthropic and OpenAI by taking up contracts and tie-ups which are perceived as promising by investors," said Gaurav Sharma, head of Research, Globe Capital.Wipro's expanded Agentic AI partnership with ServiceNow and Coforge's acquisition of Encora have helped ease concerns that had weighed on the sector earlier due to AI-linked disruption fears.The rebound comes after a sharp underperformance this year. The Nifty IT index has fallen over 21% so far in 2026, compared with a 10.5% decline in the benchmark Nifty. The recent momentum has turned positive, with the IT index gaining about 3% over the past week, while the Nifty has fallen 2.7%.131452365"The open interest has doubled in the past couple of months in large-cap IT stocks, indicating a huge build-up of short positions," said Jay Vora, Technical Analyst, Mirae Asset Sharekhan. "On Monday, while short positions remained as is, traders built fresh long positions in the space."Vora said that a more meaningful short covering rally would require stocks to move above key technical levels, with most large-cap names currently 2-3% below their 40-day exponential moving averages."There are short positions in the midcap IT companies as well, but it is not as significant as the large caps," he said.The rebound in IT shares is also on account of valuations falling below 10-year averages following the recent sell-off."Large-cap names like TCS and Infosys are trading at mouthwatering levels, close to 16-17 times Price to Earnings, while midcap companies like Coforge, Oracle and Mphasis are around 20-30 times PE, which are attractive," Sharma said.While near-term volatility may persist, valuations remain compelling over a two-to-three-year horizon, he said. Sharma's top picks are OFSS, Tech Mahindra, Coforge and Mphasis, and recommends IT Exchange Traded Funds for retail investors.The momentum favours IT stocks now, though the index is nearing key hurdles."Technically, the Nifty IT index has immediate support established at the 29,300-28,900 zone, while initial resistance is positioned at 30,500, with a broader multi-week position of 31,200," said Nischal Jain, Quant Researcher, Share.Market by PhonePe.Sharma said the Nifty IT index is on the verge of a breakout from an inverse head and shoulder pattern, which could extend the rally towards 31,500.
Shares of Indian IT companies, including heavyweights Infosys, Tech Mahindra, TCS and Persistent Systems jumped up to 5% on Monday as multiple tailwinds boosted investor sentiment, pushing the Nifty IT index up around 3% to emerge as the top sectoral gainer.The index rose to 29,905 in the morning trading hours of Monday, extending sharp gains for the second consecutive session. The index has now jumped nearly 4% over two days.The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.While doomsday prophets continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”Also read: Reports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stocksThe latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates.Technical view on Nifty ITThe Nifty IT index has witnessed a strong rebound after taking support near its crucial support zone, indicating the possibility of a short-term recovery in the sector, Kunal Kamble, Senior Technical Research Analyst at Bonanza had said. “On the hourly time frame, the index is currently forming an inverse Head and Shoulders pattern. A decisive breakout is seen above the neckline of this pattern and has triggered further upside momentum in the index. Such a move is likely to positively impact heavyweight IT stocks that share a high correlation with the index, including Infosys, Tata Consultancy Services, and HCL Technologies,” he added.Technically, the analyst had suggested that if the index manages to sustain above the 29,650 mark, it may open the door for a further recovery towards the 31,280 zone in the near term. However, he added that the current price action appears to be a retracement within the broader trend rather than a complete trend reversal. Therefore, traders should approach the sector with a cautious outlook.“Aggressive or high-risk traders may consider short-term trading opportunities in select IT counters, provided the index maintains strength above key support levels. On the downside, a breach below 28,800 could once again invite selling pressure across the Nifty IT index and associated IT stocks, potentially weakening the ongoing recovery structure,” he said.IT stocksPersistent Systems shares were the top gainers on the Nifty IT index, jumping nearly 5%. Infosys shares followed, surging nearly 4%. Mphasis, Tech Mahindra, LTI Mindtree and Coforge shares gained over 3% each.Also read: Wockhardt shares rocket 19% after FDA approval for antibiotic targeting drug-resistant infectionsTata Consultancy Services (TCS) and OFSS shares jumped around 2% each, while HCL Technologies and Wipro shares gained around 1% each.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
India’s top-heavy boom and the lesson for Bangladesh khairul.jahin@… Tue, 05/05/2026 - 11:54 Image India’s top-heavy boom and the lesson for Bangladesh During my 14 months as Minister (Press) at the Bangladesh High Commission in New Delhi, I observed India more from metro rails, trains, buses, provincial roads, and a daily dose of discussions with my colleagues in the diplomatic circle and journalistic peers from the Indian media. Personal travel and official work took me across Uttar Pradesh, Uttarakhand, Rajasthan, West Bengal, Andhra Pradesh and Himachal Pradesh. I spent long hours reading newspapers, watching television, speaking with journalists, researchers, and policy professionals in Delhi, and observing how ordinary citizens moved through the economy. The impression was consistent. India possesses enormous capability, but it also carries a deep structural imbalance. It is a country of scale without enough spread and wealth without enough diffusion. And also a country with very large ambitions without sufficient economic architecture. The dominant global story is flattering. India is now the world’s fourth-largest economy, with output above $4 trillion. Growth has often ranged between 6% and 8%. Its stock market has surged. It landed a spacecraft near the Moon’s south pole. Its digital payments network is admired internationally. Western capitals increasingly view India as a democratic counterweight to China. None of this is false. But none of it is sufficient. Behind the aggregate numbers lies a more difficult truth. India’s growth model has become top-heavy. The central weakness is straightforward. India has generated elite wealth, urban enclaves of modern prosperity and globally competitive service industries. It has not generated enough broad middle-income employment. The country moved too quickly toward a service-led economy before completing industrialisation. In doing so, it skipped the stage that, elsewhere, historically created stable mass prosperity: labour-intensive manufacturing at scale. Every year, roughly 10-12 million young, educated Indians enter the workforce. That is comparable to adding a country the size of Belgium to the labour market annually. No nation can absorb such numbers through software parks, finance offices and high-end services alone. India has generated elite wealth, urban enclaves of modern prosperity and globally competitive service industries. It has not generated enough broad middle-income employment. The country moved too quickly toward a service-led economy before completing industrialisation. It needs factories, warehouses, construction supply chains, transport systems and medium-sized enterprises capable of hiring by the thousand. India’s economy has not produced enough of them. Official labour statistics and private estimates differ, but the broad picture is unmistakable. Youth unemployment remains high, especially in cities and among graduates. Urban youth unemployment has often been in the mid-to-high teens. In some regions, female youth unemployment has been dramatically higher. Yet even these figures understate the problem because India suffers heavily from disguised unemployment: several family members sharing work that would productively occupy one person. They are counted as employed, but they are not economically advancing. Stagnation in proper placement Nothing captures this scarcity better than recruitment frenzies for low-level public jobs. In 2022, Indian Railways announced around 35,000 vacancies. More than 12 million people reportedly applied—roughly one opening for every 357 applicants. When exam rules changed, protests erupted in Bihar and elsewhere. This was a classic labour-market distress. In Uttar Pradesh, more than 93,000 applicants reportedly sought 62 peon posts in 2024, many of them graduates, engineers and postgraduates. These are jobs involving basic clerical support, file movement and errands. When highly educated youth compete in such numbers for messenger-level work, GDP headlines become less persuasive. Families have paid for degrees, but the economy has not created matching opportunities. Economists call this jobless growth: rising output without sufficient employment creation. India has become one of its clearest large-scale examples. Capital-intensive sectors such as finance, telecoms, digital platforms, and automated manufacturing can rapidly boost GDP while adding relatively few jobs. Shareholders gain faster than workers. Historically, countries that lifted hundreds of millions out of poverty followed a different route. Britain, Germany, Japan, South Korea, Taiwan and China all industrialised first. Rural labour moved into factories, productivity rose, exports expanded, and a mass middle class emerged. Vietnam is now following that path. Bangladesh has done so, in part, through garment exports. India was expected to do the same. It did not do enough of it. In 2014, the Indian government launched “Make in India”, promising to turn the country into a manufacturing hub. The ambition was to raise manufacturing’s share of GDP from around 16% to 25%. A decade later, manufacturing’s share remained well below target and by some measures slipped closer to 13%-14%. India did not merely miss the goal; it struggled to change direction. That is the heart of India’s missing middle. At the top sit giant conglomerates such as Reliance Industries, Adani Group and Tata Group. At the bottom sit millions of tiny workshops, traders and household enterprises employing five or fewer people. What is scarce are large mid-sized factories employing 500, 2,000 or 10,000 workers and linked to export supply chains. During the global “China Plus One” shift, multinationals seeking diversification did not move overwhelmingly to India. Many expanded in Vietnam, Mexico and Bangladesh. Vietnam, with a population under 100 million, has become a major exporter of electronics, footwear, leather accessories and apparel. Bangladesh, despite far fewer resources, built a garment export machine exceeding $45bn annually in recent years. India lost ground in precisely the labour-intensive sectors that could have employed millions: textiles, leather goods, footwear, toys and light engineering. The reasons are practical. Land acquisition can be slow and politically contentious. Power reliability varies by region. Ports and logistics have improved but remain more costly than those of best-in-class Asian competitors. Contract enforcement through courts can take years. Regulatory burdens remain dense. Medium firms often spend disproportionate time on compliance rather than expansion. An Observer Research Foundation study found more than 69,000 compliance requirements for doing business in India, with over 26,000 carrying imprisonment clauses. A mid-sized manufacturer can face hundreds of annual filings, inspections or procedural obligations. Under such conditions, staying small is often rational. That is the heart of India’s missing middle. At the top sit giant conglomerates such as Reliance Industries, Adani Group and Tata Group. At the bottom sit millions of tiny workshops, traders and household enterprises employing five or fewer people. What is scarce are large mid-sized factories employing 500, 2,000 or 10,000 workers and linked to export supply chains. Those firms built China’s middle class. They remain too few in India. Inequality at its peak Wealth concentration has widened the imbalance. According to the latest Forbes rankings, Mukesh Ambani remains India’s richest person with a net worth of about $97.9bn, while Gautam Adani follows with roughly $63.8bn. India now has 229 billionaires, up from 205 the previous year, and their combined wealth has crossed $1 trillion for the first time. The top ten richest Indians alone control around $368bn. On inequality, the broader picture remains stark. Estimates from the World Inequality Database and Oxfam indicate that the top 1% of Indians own around 40% of national wealth, while the bottom 50% own only around 3%. Exact percentages vary by methodology and year, but the trend in concentration is consistent. World Inequality Database and Oxfam indicate that the top 1% of Indians own around 40% of national wealth, while the bottom 50% own only around 3%. Exact percentages vary by methodology and year, but the trend in concentration is consistent. Consumption patterns reflect this divide. Mercedes-Benz India has posted record sales. Ultra-luxury apartments in Gurugram and Mumbai sell out quickly. Yet entry-level motorcycles, small tractors and low-cost fast-moving consumer goods have often seen sluggish rural demand. Companies have reported weak village sales volumes, meaning poorer households are cutting back not on luxuries but on staples and inexpensive treats. The service sector, long India’s pride, cannot fully offset these weaknesses. For three decades, IT services created one of India’s clearest success stories. Infosys, TCS and Wipro built global businesses on coding, consulting and back-office support. They created an urban middle class and reshaped cities such as Bengaluru and Hyderabad. But artificial intelligence now threatens some of the very entry-level tasks that sustained this model. Studies in advanced economies have found falling demand in occupations most exposed to generative AI. Hiring at major Indian IT firms has slowed sharply. Routine coding, customer service and standardised support work are increasingly automatable. India built much of its middle class by becoming the world’s back office. The back office is now changing. Agriculture remains another drag. Roughly 45%-50% of the workforce still depends on farming, while agriculture contributes around 15%-18% of GDP. Too many people compete for too small a share of national income. Holdings have fragmented across generations; a once-viable ten-acre farm may become several one-acre plots. Such land is hard to mechanise and often unprofitable. Debt cycles and price volatility intensify distress. India’s welfare architecture partly cushions these failures. The government provides free food grains to around 800 million people—close to 60% of the population. Ethically, such support is justified where hardship persists. Economically, it is also revealing. If growth were translating into secure incomes broadly enough, such dependence would be smaller. Despite growth, income inequality is rising in India. Visual: Star Education adds another fracture. India produces graduates at scale, but many employers report that graduates are poorly prepared. Some employability studies have claimed that a large majority of engineering graduates require substantial retraining. Polytechnic outcomes are also uneven. Students often gain credentials without marketable skills. Families borrow or liquidate assets to finance degrees that do not guarantee mobility. This creates what sociologists call waithood: young adults no longer students, not yet securely employed, waiting through repeated exams, coaching centres and temporary gigs. Across north India, tea stalls and rented rooms are full of candidates preparing for delayed government recruitment tests that may never transform their lives. Lessons for Bangladesh Bangladesh should study this carefully. Our own economy has grown strongly, averaging around 6% for much of the 2010s. Garment exports rose from roughly $12 billion in 2009 to above $45 billion in recent years. Around four million workers, mostly women, gained factory employment. Poverty fell sharply, life expectancy rose above 73 years, infant mortality declined, and female participation in paid work increased. Bangladesh benefited from precisely the labour-intensive manufacturing route India underused. Millions moved from subsistence dependence toward wage income, and that wage income financed schooling, rural housing, small businesses and consumption. Few policy choices in South Asia have produced a larger social return than integrating low-income women into export manufacturing. India has generated elite wealth, urban enclaves of modern prosperity and globally competitive service industries. It has not generated enough broad middle-income employment. The country moved too quickly toward a service-led economy before completing industrialisation. Yet Bangladesh also shows top-heavy tendencies. Garments account for around 80%-85% of merchandise exports, leaving the country vulnerable to recessions in Europe and North America, compliance shocks, buyer concentration and changes in global trade rules. A narrow export basket is profitable until demand turns. Banking-sector stress remains chronic, with high levels of non-performing and repeatedly rescheduled loans that weaken confidence and starve productive firms of credit. The tax-to-GDP ratio has often been below 9%, among the lowest in comparable emerging economies, limiting state capacity in health, education, transport and urban management. Dhaka property values have surged to levels comparable to those of many European and North American capitals, while many districts remain dependent on remittances, informal trade, and low-wage work. This is a classic sign of distorted capital allocation: money chasing land rather than machinery, skills or technology. Like India, Bangladesh has many microfirms and a few large groups, but too few medium industrial exporters outside garments. Pharmaceuticals are a bright spot, as are ceramics, footwear, bicycles, light engineering and shipbuilding niches, yet none has matched apparel at scale. The lesson is clear: Bangladesh now needs a second-generation growth model built on diversification. That means stronger ports, cheaper logistics, more reliable power, cleaner bank balance sheets, vocational training, deeper capital markets and easier scaling for medium enterprises. It also means moving up the garment value chain into design, branding, synthetic fabrics and technical textiles rather than relying mainly on basic cut-and-sew production. India still has formidable strengths, including a vast domestic market, entrepreneurial energy, English-language capabilities, digital infrastructure, and geopolitical relevance. It is not collapsing. But resilience is not a strategy. If jobless growth, weak manufacturing depth, educational mismatch and extreme inequality persist, the superpower narrative will remain incomplete. India has two decades before demographic ageing becomes more pronounced. That is the window to build factories, simplify regulations, improve the courts, upgrade skills, and widen opportunities. Without those reforms, India may grow larger without becoming broadly rich, more visible without becoming more balanced, and more powerful abroad while remaining brittle at home. Bangladesh also has a narrower window than many assume. The demographic dividend will not last indefinitely. Fertility has fallen sharply, the population is gradually ageing, and the economy will face rising pressure to create higher-productivity jobs before wage competitiveness erodes. That means the next fifteen to twenty years are critical. This is the period to diversify exports, reform banks, modernise tax administration, improve courts and contract enforcement, expand technical education, and make cities more liveable and productive. Without those reforms, Bangladesh may grow bigger (like India) without becoming significantly richer, urbanise without becoming efficient, and export more without developing real industrial depth. The country’s progress over the past two decades is substantial and real. But, as India’s example shows, growth alone does not guarantee balance, resilience or lasting prosperity. Faisal Mahmud is a Dhaka-based journalist. He was the former Minister (Press) of the Bangladesh High Commission in India. Send your articles for Slow Reads to slowreads@thedailystar.net. Check out our submission guidelines for details.