IT

India’s public sector banks are preparing to significantly increase technology investments to counter emerging cybersecurity risks linked to advanced artificial intelligence tools such as Claude Mythos AI. Concerns over the tool’s ability to identify and exploit system vulnerabilities have prompted banks to reassess digital defenses. Punjab & Sind Bank CEO Swarup Kumar Saha confirmed plans to boost IT spending to safeguard customer data and financial systems.

Infosys has significantly accelerated its expansion in a key port city, increasing its workforce from 250 to 1,900 employees over the past two years. The company plans to add 750 more seats in the near term while outlining a long-term vision to develop a 20-acre campus capable of accommodating 7,000 professionals. This expansion reflects Infosys’ strategic focus on regional growth and talent integration.

Infosys has been ranked as the leading company for career growth in India, according to LinkedIn’s ‘2026 Top Companies’ report. The IT services major secured the top position ahead of global peers Accenture and Amazon. The annual list, now in its 10th edition, evaluates 25 large employers and highlights organisations offering strong professional development opportunities. Financial services giant JPMorgan Chase and enterprise software firm SAP followed in fourth and fifth positions respectively.

Wipro reported a marginal 1.89 per cent decline in consolidated net profit to Rs. 3,501.8 crore for the quarter ended March FY26, compared with Rs. 3,569.6 crore in the same period last year. Despite the drop in profitability, the IT services major recorded a solid 7.6 per cent year-on-year increase in revenue from operations, which rose to Rs. 24,236.3 crore. 

Wipro has announced a ₹15,000 crore share buyback programme, marking its largest-ever repurchase initiative. The move underscores the company’s effort to return surplus cash to shareholders and strengthen earnings per share. While significant, the buyback is smaller than recent large-scale repurchases by peers such as Infosys and TCS. 

Wipro has announced a strategic acquisition of select customer contracts from Alpha Net Consulting in a deal valued at up to USD 70.8 million, or approximately Rs. 590 crore. The transaction is aimed at expanding Wipro’s client base, strengthening its consulting-led services, and accelerating its artificial intelligence-driven offerings. By integrating key contracts, workforce talent, and long-standing client relationships, Wipro seeks to enhance its competitive positioning in global IT services.

India’s leading IT services firm Tata Consultancy Services has extended 25,000 job offers to fresh graduates for the current fiscal year, signaling continued commitment to entry-level hiring despite an uncertain demand environment. The company, which recruited 44,000 freshers in the previous fiscal, is adopting a measured approach, linking future hiring decisions to business demand visibility. While lateral hiring offers immediate productivity, TCS continues to prioritize campus recruitment as a long-term talent strategy.

The rapid adoption of artificial intelligence across the technology sector is triggering a wave of workforce restructuring, prompting concerns over job security and corporate accountability. Employee advocacy groups are urging both industry leaders and policymakers to prioritize reskilling initiatives over layoffs, while calling for stronger labor protections, including mandatory severance frameworks and clearer employment guidelines. Despite robust profitability in the sector, the shift toward automation is creating uncertainty among white-collar professionals.

India’s benchmark equity indices ended modestly higher after a volatile trading session, with the Sensex and Nifty gaining around 0.5 per cent. Early optimism drove sharp intra-day rallies, but gains were pared as concerns over rising fuel-driven inflation tempered investor sentiment.