TCS's attrition and layoff story widens: EEOC probe, US Senate letter and Karnataka government inquiry all confirmed Information Technology
Over 300 senior executives -- about 16% of TCS's top 1,800 leadership cohort -- exited in the eight months to March 31, 2026, versus a historical 4-5% annual rate, amid AI-led restructuring, variable-pay cuts and a ~12,000-role layoff plan. TCS is now under EEOC investigation in the US over alleged replacement of older American workers with H-1B hires, US senators have separately raised concerns, and Karnataka's Labour Ministry has sought a formal explanation. No evidence yet of attrition normalizing or scrutiny winding down.
Brokerages expect Infosys, HCLTech and Wipro to cut or narrow FY27 guidance further; no large-cap has raised it this season Information Technology
JPMorgan expects Infosys to cut FY27 constant-currency guidance to 1-2.5%, HCLTech to lower services guidance to 1-3.5%, and Wipro to guide -2% to 0% sequential growth for Q2 FY27. Motilal Oswal separately flagged possible trims at Infosys and HCLTech, citing soft demand commentary, AI uncertainty and geopolitical overhang on discretionary spend. This is analyst expectation ahead of confirmed prints, not a resolution, but no large-cap has raised guidance this season.
US confirms the 2028 generic-tariff step-up stands, with no exemption for Indian generics Pharmaceuticals
The July 21 Section 232 action brings generics into the pharma tariff regime on schedule: duty-free until August 2028, then a 100% tariff for a year, stepping up to 200% from August 2029, unless manufacturers build US plants -- a shift analysts and exporters call unlikely within the window given India supplies roughly half of US generic volumes. This confirms rather than resolves the desk's existing tariff-cliff view; nothing here is the positive catalyst that would move PHARMA off AVOID.
Brent extends its Hormuz-driven climb toward $88-89/bbl; EIA sees no Middle East supply normalization before 2027 Energy & Power
Brent traded near $87-88/bbl through Aug 14, with some quotes above $88.5, as Iran-Oman talks to reopen the Strait of Hormuz remain deadlocked and the US threatens further economic pressure on Iran. The EIA forecasts Brent averaging $87/bbl for 2026 and does not expect Middle East output to normalize until early 2027 -- the risk premium first seen Aug 10 has not unwound, it is extending.
OFSS posts a blockbuster Q1 FY27 (+69% revenue, +121% profit) alongside a CEO handover to CFO Avadhut Ketkar Information Technology
Oracle Financial Services Software reported Q1 FY27 revenue of Rs 3,125 crore (+69% YoY) and net profit of Rs 1,416 crore (+121% YoY), driven by a major customer licensing agreement. Alongside the results, long-time CEO Makarand Padalkar resigned and CFO Avadhut Ketkar was elevated to MD & CEO in a board reshuffle -- framed by coverage as a succession rather than a departure under pressure, but worth flagging as a leadership-transition watch item at a quality-wait-rated name.