|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||392.00 - 401.40|
|52-week range||384.60 - 739.85|
|Beta (5Y monthly)||0.80|
|PE ratio (TTM)||20.89|
|Forward dividend & yield||20.00 (4.72%)|
|Ex-dividend date||05 Apr 2022|
|1y target est||N/A|
BENGALURU (Reuters) -India's top IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at U.S. and European clients who are bracing for a recession will sharply hit their own profits after a pandemic-led boom. Infosys Ltd, India's second-biggest IT company, and smaller rival Wipro recently told their employees they had reduced the variable pay portion of employee compensations, according to respective internal emails sent by management to staff at the two companies and seen by Reuters. Some Indian companies include variable pay as a part of employees' overall salary package and link it to the performance of the employee as well as the company.
Indian shares closed near a seven-week high on Thursday, led by gains in metals and auto stocks, while strong results from IndusInd Bank lifted private lenders. The NSE Nifty 50 index and the S&P BSE Sensex rose 0.51% each to close at 16,605.25 and 55,681.95, respectively. "The return of foreign investors to domestic equity markets in the last few sessions, coupled with receding commodity prices and hopes the U.S. Fed may not go for aggressive rate hikes in its next meeting have somewhat tempered fears," said Shrikant Chouhan, head of equity research (retail), Kotak Securities.
BENGALURU (Reuters) -India's Wipro Ltd on Wednesday forecast higher revenue growth from IT services on the back of a strong project pipeline, and said margins likely bottomed out after higher expenses dented June-quarter profit. IT companies including Wipro and larger rivals Tata Consultancy Services, Infosys and HCL Technologies have been facing cost challenges as they seek to retain employees amid a sector-wide talent churn. Wipro said the positive impact from rupee depreciation was moderate in the June quarter as it saw cross-currency impact in Europe, a key market, with the euro and pound depreciating against the dollar.