Wipro's reported a steady profit of about $50m, and forecasts a rebound in tech spending. A far more reliable indicator than Gartner.
Also interesting to note that Wipro is one of about four giant tech firms in India. So the value they've created by outsourcing so far is...not much - less than half a billion dollars. That's not a dis on Wipro - it's actually a about the people that have already been outsourced - it's the market's take on the actual value they were creating, after all the fat's been arbitraged away.