Telangana: Infosys Pocharam campus expands by 11 lakh sq ft, 10K seats

U.S. Secretary of State Marco Rubio stated that recent changes to U.S. work visa rules are global and not targeted at India. The U.S. Labor Department suspended six major IT outsourcing firms, including Infosys, Tata Consultancy Services, and Wipro, from the PERM program. Rubio emphasized the measures aim to protect American workers and address fraud in business-related immigration programs. India has expressed concerns, stating the measures do not support shared objectives.

Cognizant Technology Solutions reduced its full-year revenue guidance to 4.0%-4.4% from 4.5%-5.5%, citing macroeconomic uncertainty and lower discretionary spending. Q3 2026 revenue was $5.6 billion, up 4.8% in constant currency. The company expects fewer job cuts under 'Project Leap' than previously anticipated, with cost savings of $200 million in 2026. Analysts at Nomura maintained a Buy rating, valuing the company at 12x FY27F EPS.

India's Sensex index fell 353 points, led by declines in Reliance Industries and IT stocks. Jio Platforms surged 27% on its market debut. Reliance and Infosys each dropped over 3%. Brent crude rose to $114.50 per barrel. Larsen & Toubro gained 4% after reporting a 32.5% rise in quarterly profit.

Infosys Ltd. shares fell 5.3% over two days, losing ₹25,000 crore in market cap. The decline is attributed to profit booking in IT stocks as global AI trade rebounds. SK Hynix reported record quarterly revenue, up 327.9% YoY, driven by AI infrastructure demand. Infosys cut its FY24 revenue growth guidance to 1%-2% due to market pressures.

On October 28, 2026, Indian stock indices BSE Sensex and Nifty 50 fell due to weakness in IT stocks, higher crude oil prices, and caution ahead of the US Federal Reserve's policy announcement. Infosys, TCS, and HCLTech led IT stock losses, while L&T and Bajaj Auto gained. Jio Platforms debuted on the stock exchange at ₹1,358, a 21.36% premium over its IPO price. Crude oil prices rose to $115.40 per barrel, raising concerns about inflation and import costs.

TCS and Infosys reported significant AI revenue growth in Q2 2027, with TCS generating $3.1B (10.1% of total) and Infosys seeing a 29% increase. Both companies are investing in AI partnerships and hiring FDEs to drive innovation and meet shifting demand, according to their earnings reports.