New Delhi, Jan. 20 -- In less than two trading sessions, investors of Wipro Ltd have wiped out almost 90% 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 over 25% of their gains since CEO Venu Lambu took over at the end of May 2025.

The specific causes of the declines vary between the two companies, 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...