Cognizant reported a 1.4 per cent year-on-year dip in net profit for the April-June quarter to $636 million, while revenue grew 4.5 per cent to $5.5 billion. The company has also cut the top end of its annual guidance, citing a slowdown in macroeconomic conditions and rising uncertainty.
'There's been a sense of FOMO, fear mongering and that has led to token consumption without linkages to ROI and without linkages to outcomes.'
Tata Consultancy Services (TCS) has stated that the recent suspension of eight IT firms, including itself, from a US green card programme will not impact its workforce strategy or customer engagements, citing its low number of applications and focus on local hiring.
The Kerala High Court has directed the Vigilance to register an FIR under the anti-graft law against former Chief Minister Pinarayi Vijayan, his daughter Veena T, and son-in-law P A Mohamed Riyas in the alleged CMRL bribery case. The court stated that information provided by the Enforcement Directorate contains sufficient material to show commission of cognizable offences under the Prevention of Corruption Act, ruling out the need for a preliminary enquiry. The court also deemed illegal the state government's decision to form a Special Investigation Team for a preliminary enquiry.
The Kerala High Court dismissed pleas by former Chief Minister Pinarayi Vijayan, his daughter Veena T, and son-in-law P A Mohamed Riyas, challenging an order to register an FIR against them in the alleged CMRL bribery case. Current Chief Minister V D Satheesan defended the government's actions, stating they followed legal advice, while political parties reacted sharply, with BJP welcoming the verdict and CPI(M) alleging political motivation.
Kerala Chief Minister V D Satheesan announced that his government will comply with the High Court's directive to register an FIR against former Chief Minister Pinarayi Vijayan, his daughter Veena T, and son-in-law P A Mohamed Riyas in the alleged CMRL bribery case. Satheesan stated there would be no appeal against the verdict. The High Court deemed the government's earlier decision to form an SIT without an FIR illegal and ordered immediate registration of a case based on ED's information.
The Jammu and Kashmir government has initiated a thorough inquiry into allegations of misconduct against IAS officer Kumar Rajeev Ranjan, who is accused of using abusive language towards a female JKAS officer during a recent virtual review meeting, an incident that has sparked widespread condemnation and calls for strict action.
The US government has suspended eight major IT firms, including Microsoft, Tata, Infosys, and Wipro, from the Permanent Labour Certification Programme, which allows companies to apply for green cards for foreign workers. This action, announced by Vice President J D Vance, Labour Secretary Keith Sonderling, and Attorney General Todd Blanche, is part of an effort to prevent American workers from being shut out of the job market. The Department of Labour cited abuse of the system, particularly by Microsoft, and also initiated an investigation into the J-1 visa programme used by several universities.
'Indian IT firms must hire and train more Americans while reducing dependence on sending employees from India to the US.'
'...but could demotivate employees seeking US residency.'
India has strongly criticised the US decision to suspend the Permanent Labor Certification (PERM) program for eight major IT firms, including Indian giants like TCS and Wipro. New Delhi also condemned US Vice President JD Vance's description of foreign professionals as "indentured servants," calling it "unwarranted and deeply offensive." The move is expected to impact thousands of Indian tech professionals seeking permanent residency in the US and further strains bilateral ties.
Nirma University has formed a three-member committee to investigate an incident where a professor allegedly grabbed a student's collar during a stand-up comedy show. The incident, captured in a viral video, led to apologies from both parties and protests from student organisations, prompting the university to launch a formal inquiry.
The Indian government has ordered the removal of Jack Dorsey's Bitchat app from app stores, citing law-and-order concerns due to its ability to bypass communication restrictions. The Ministry of Electronics and Information Technology (MeitY) issued the takedown demand under Section 69(A) of the IT Act, 2000. The government also addressed the issue of banning minors from social media, indicating a search for a better solution than outright bans.
Apple has removed the offline messaging app Bitchat from its India App Store following a demand from the Ministry of Electronics and Information Technology (MeitY). Developed by Jack Dorsey, Bitchat faced scrutiny under Section 69(A) of the IT Act, 2000, due to concerns about its potential misuse by anti-national elements and for evading lawful surveillance, especially during public disorder. This marks the second time the app has faced government action in India.
Cognizant has announced the launch of Technoverse Hackathon 2026, a national platform for engineering students to demonstrate AI-powered problem-solving skills in various industries. The hackathon aims to bridge academic learning with real-world applications and promote innovation.
A woman riding a sports bike on Gurugram's Golf Course Road was allegedly hit by a speeding car whose occupants had previously harassed her. The car dragged her bike for several metres, and the occupants fled. The incident was captured on camera, and police are investigating.
IT services giant Cognizant is embarking on a significant AI-led restructuring programme, Project Leap, involving an investment of up to $320 million, which will lead to workforce reductions across geographies and a strategic shift towards AI capabilities to boost productivity and margins.
The Bombay High Court has issued a complete ban on bursting firecrackers on public roads and deemed the use of loudspeakers, DJs, and laser beams during religious processions "unwarranted." The court emphasized that festivals must be celebrated without causing noise and air pollution, highlighting the need for strict enforcement of existing regulations.
Cognizant CEO Ravi Kumar's annual compensation increased by 28 per cent to $21.5 million in 2025, while CFO Jatin Dalal's compensation dropped by 30 per cent to $7.08 million, according to a recent proxy statement.
Nasscom said while the visa programme has been used by companies to address the skill gap in the US by bringing in foreign employees, the number of H-1B employees from Indian companies have come down substantially over the last decade.
Cognizant's research reveals that companies seeking AI adoption favour IT services firms offering custom, full-stack AI solutions, prioritising flexibility and expertise over cost and speed.
A woman biker was hit by a speeding car on Golf Course Road in Gurugram, an incident captured on video and shared widely on social media. The accused driver, Kalyan Bainsla, admitted fault for the collision but claimed he fled fearing an attack from a group of bikers. Gurugram Police have taken suo motu cognizance, registered a case, and formed teams to apprehend the driver, while the victim plans to file a formal complaint.
Indian IT companies are experiencing a growing trend towards outcome-based pricing models, moving away from traditional time and material or fixed-price contracts, as artificial intelligence reshapes client engagement and deal structures.
Indian information technology (IT) stocks, led by Infosys, experienced a significant selloff, dragging the Nifty to a two-month low, primarily due to escalating West Asian tensions pushing crude oil prices higher, and concerns over upcoming large IPOs diverting funds from secondary markets. The sector is also grappling with the long-term implications of AI disruption.
Aaron Rai finished tied for 23rd at the Cognizant Classic, while Nico Echavarria secured victory with a strong final round performance.
Indian IT companies have significantly reduced their fresh H-1B visa applications for US FY27, a direct consequence of soaring fees imposed by the Trump administration and new lottery system changes that prioritise higher-salaried employees, leading to a seven-year low in registrations.
Aaron Rai maintained his position in the Top-10 while Sudarshan Yellamaraju qualified for the weekend rounds at the Cognizant Classic in The Palm Beaches.
The US Department of Labour's Office of the Inspector General has initiated an investigation into alleged fraud in H-1B and PERM work visa programmes. Indian IT firm Cognizant is among the companies under scrutiny for widespread schemes involving fraudulent applications, exploitation of foreign workers, and undercutting American labour. The probe aims to dismantle networks exploiting the guest worker visa system.
The BJP has criticised the Allahabad High Court's observations regarding the wearing of a hijab in school, stating that such matters should be left to school administrations and not courts. BJP spokesperson Syed Zafar Islam argued that faith is a significant personal aspect and courts should not dictate personal attire, while also acknowledging that schools have the right to set uniform policies. The High Court had dismissed a petition seeking permission for a girl to wear a headscarf, ruling it's not an essential part of Islamic faith.
Cybersecurity specialists warn AI-driven attacks require continuous threat monitoring instead of periodic security checks.
N Chandrasekaran's exit marks a major shift for TCS, leaving its leadership to navigate AI disruption without the group chairman's deep expertise.
Cognizant reported a significant increase in net income for the December quarter, driven by AI efficiencies and strong performance in the financial services sector. The company also announced a major deal and provided guidance for the upcoming year.
'One important clarification is that the reported US action is not a blanket cancellation of all US tourist visas.'
Former India captain Asunta Lakra has written to the National Commission for Women (NCW), requesting an independent inquiry into the handling of sexual harassment complaints at Hockey India and its affiliated organisations. Lakra alleges institutional failure, deliberate inaction, and intimidation of complainants, specifically accusing Hockey India secretary general Bholanath Singh of threatening her after she raised concerns about alleged misconduct by Jharkhand coach Sudhir Gola. She also highlighted multiple complaints since January 2025 and caste-based humiliation of tribal players.
The Supreme Court of India has quashed criminal proceedings against Standard Chartered Bank and one of its officers in a 1991-92 Foreign Exchange Regulation Act (FERA) case, citing an extraordinary 23-year delay in prosecution and the Enforcement Directorate's failure to comply with mandatory procedural safeguards.
The Delhi High Court has dismissed a Public Interest Litigation (PIL) challenging the forcible shifting of activist Sonam Wangchuk from a protest site at Jantar Mantar to Safdarjung Hospital during his hunger strike. The court noted that the issue of his hospitalisation had been previously addressed and dismissed the new petition, advising the petitioner to lodge an FIR if still aggrieved.
The Congress party has formally appealed to the Election Commission, demanding an immediate reversal of the rejection of Meenakshi Natarajan's nomination for the Rajya Sabha polls, labelling the decision as 'egregious' and a 'subversion of democracy'.
"Let him be inside for some more time," the Bombay high court said on Wednesday while continuing its stay to the bail granted to Shiv Sena corporator Ramesh Mhatre who is accused of assaulting doctors and staff at a municipal hospital in Dombivli. It also ordered preservation of the CCTV footage of the July 6 incident and the footage of Mhatre's own hospital stay after his arrest.
The Delhi High Court has upheld the Indian government's decision to temporarily restrict access to Telegram, citing the messaging app's capacity for 'automated dissemination' of large content, which could facilitate misinformation during the crucial NEET-UG retest.
The Nifty IT index has been one of the worst sectoral performers in calendar year 2026, losing nearly 29 per cent till date compared to the 8 per cent dip in the Nifty 50 index.
