CEO rallies evaporate at Wipro, LTIMindtree

Declines come from AI automation-led price pressure, tariff uncertainty

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Four of the country's largest IT services companies were heading into the last quarter with weaker full-year trajectories than last year.

(ISTOCKPHOTO)

nless than two trading sessions, investors of Wipro Ltd have wiped out all of the stock's gains since its new chief executive Srinivas Pallia took over in April 2024. Over the same period, shares of LTIMindtree have lost more than a fourth of their gains since CEO Venu Lambu took over in end-May 2025.

The specific causes of the declines vary, but they are all encompassed by two broad headwinds facing India’s IT sector — AI-led automation resulting in pricing pressure, and uncertainty around tariffs.

From 7 April 2024, when Pallia took over as Wipro’s chief executive, to 16 January 2026, before the company announced its December-quarter results, the stock rose 10.16%. The company then reported $2.64 billion in revenue, up 1.2% sequentially, beating analyst expectations. However, investors were not pleased.