HCLTECH
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HCL Technologies Appoints Amitabh Kant As Independent Director
HCLTech Says Sailpoint And Co Forged Partnership To Deliver Modern Identity Security At Enterprise Scale
Sept 4 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - SAILPOINT AND CO FORGE PARTNERSHIP TO DELIVER MODERN IDENTITY SECURITY AT ENTERPRISE SCALE
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
Sept 4 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - SAILPOINT AND CO FORGE PARTNERSHIP TO DELIVER MODERN IDENTITY SECURITY AT ENTERPRISE SCALE
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
India tech giant TCS layoffs herald AI shakeup of $283 billion outsourcing sector
Experts say TCS's moves signal more sector-wide layoffs
AI-led trend could eliminate up to 500,000 jobs in key sector
People managers, testing and management staff most vulnerable
AI putting the onus on individuals to re-skill themselves
Adds reporters' bylines
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, Aug 8 (Reuters) - Indian outsourcing giant Tata Consultancy Services' TCS.NS decision to cut over 12,000 jobs signals the start of a broader AI-fueled trend that could end up eliminating around half a million jobs over the next two to three years from the $283 billion sector, experts said.
While TCS pegged the move to shed 2% of its workforce to skill mismatches rather than AI-related productivity gains, experts viewed the largest-ever layoffs by India's top private employer as the beginning of things to come in the labour-intensive sector. Roughly 12,200 TCS middle and senior management jobs will be lost.
The industry, which has played a crucial role in creating a middle class in India, is increasingly seeing AI being used for everything from basic coding to manual testing and customer support.
The sector employed 5.67 million people as of March 2025 and accounted for over 7% of India's GDP. It has a huge multiplier effect due to the direct and indirect jobs it creates and the cars-to-homes consumption it drives in the world's fifth-largest economy.
It has historically absorbed a majority of India's engineers but that will change as rising AI use ekes out more efficiencies and demands newer skills that many current employees lack, according to half a dozen industry veterans, analysts, and staffing firms.
"We are in the midst of a massive transition that will transform white-collar work as we know it," said Silicon Valley-based Constellation Research founder and chairman Ray Wang, echoing other experts who warned that more layoffs are likely on the cards.
The most vulnerable employees include pure people managers with minimal tech knowledge, those in charge of testing or identifying bugs and ensuring user-friendliness before delivering software to clients, and infrastructure management staff who provide basic tech support and ensure networks and servers are working well, experts said.
"About 400,000 to 500,000 professionals are at risk of being laid off over the next two to three years as their skills don't match client demands," tech market intelligence firm UnearthInsight's founder Gaurav Vasu said, adding that about 70% of those layoffs would impact workers with 4-12 years' experience.
"This (fear stemming from TCS layoffs) may hurt consumer demand for tourism, luxury shopping and even delay long-term investments such as real estate," Vasu said.
TCS and its peers Infosys INFY.NS, HCLTech HCLT.NS, Tech Mahindra TEML.NS, Wipro WIPR.NS, LTIMindtree LTIM.NS, and Cognizant CTSH.O collectively employ over 430,000 workers with 13 to 25 years of experience, according to staffing firm Xpheno.
"At the moment, they may appear like the big fat middle layer," Xpheno's co-founder Kamal Karanth said. None of the IT firms responded to Reuters queries seeking comment.
"With cost optimization being the key driver for new deal wins, clients are asking for productivity benefits - a trend which is also growing due to the rise in AI adoption. This requires IT firms to do more work with the same number of employees or the same work with fewer employees," Jefferies analyst Akshat Agarwal said in a research note.
ADAPT OR PERISH
TCS, which had more than 613,000 workers before the layoffs, said in its late July announcement it was gearing up to be "future-ready" by investing in new technologies, entering new markets, deploying AI at scale for its clients and itself, and realigning its workforce model. It did not answer Reuters queries on how many layoffs were tied to AI adoption and why it could not redeploy the affected employees.
"This is very devastating news," said a 45-year-old, Kolkata-based TCS employee affected by the latest layoffs. "It is very difficult for people my age to get new jobs."
Some others who are still at TCS fretted over its mediocre performance bonuses for senior employees in recent quarters, a new "bench policy" that limits the time somebody could be without a project regardless of personal circumstances or past performance, on-boarding delays, and the emotional turmoil caused by the layoffs.
"All these developments have tanked the morale of mid-career folks like me," a Pune-based TCS employee said.
The Indian outsourcing sector has been a key employment engine since the 1990s, offering upward mobility to millions of engineers. But revenue growth has weakened recently as its clients, stung by inflation and U.S. tariff uncertainty, defer discretionary spending and demand better cost management.
"The tech industry is at an inflection point, as AI and automation move to the very core of how businesses operate," industry body Nasscom said.
During past tech revolutions, disruption was felt at the organisational level.
"With AI, for the first time, the onus is on the individual to reinvent or re-skill themselves," former Tech Mahindra CEO CP Gurnani said.
Yearly net headcount addition by India's top 5 IT firms https://reut.rs/45FEgkY
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Dhanya Skariachan and Kim Coghill)
Experts say TCS's moves signal more sector-wide layoffs
AI-led trend could eliminate up to 500,000 jobs in key sector
People managers, testing and management staff most vulnerable
AI putting the onus on individuals to re-skill themselves
Adds reporters' bylines
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, Aug 8 (Reuters) - Indian outsourcing giant Tata Consultancy Services' TCS.NS decision to cut over 12,000 jobs signals the start of a broader AI-fueled trend that could end up eliminating around half a million jobs over the next two to three years from the $283 billion sector, experts said.
While TCS pegged the move to shed 2% of its workforce to skill mismatches rather than AI-related productivity gains, experts viewed the largest-ever layoffs by India's top private employer as the beginning of things to come in the labour-intensive sector. Roughly 12,200 TCS middle and senior management jobs will be lost.
The industry, which has played a crucial role in creating a middle class in India, is increasingly seeing AI being used for everything from basic coding to manual testing and customer support.
The sector employed 5.67 million people as of March 2025 and accounted for over 7% of India's GDP. It has a huge multiplier effect due to the direct and indirect jobs it creates and the cars-to-homes consumption it drives in the world's fifth-largest economy.
It has historically absorbed a majority of India's engineers but that will change as rising AI use ekes out more efficiencies and demands newer skills that many current employees lack, according to half a dozen industry veterans, analysts, and staffing firms.
"We are in the midst of a massive transition that will transform white-collar work as we know it," said Silicon Valley-based Constellation Research founder and chairman Ray Wang, echoing other experts who warned that more layoffs are likely on the cards.
The most vulnerable employees include pure people managers with minimal tech knowledge, those in charge of testing or identifying bugs and ensuring user-friendliness before delivering software to clients, and infrastructure management staff who provide basic tech support and ensure networks and servers are working well, experts said.
"About 400,000 to 500,000 professionals are at risk of being laid off over the next two to three years as their skills don't match client demands," tech market intelligence firm UnearthInsight's founder Gaurav Vasu said, adding that about 70% of those layoffs would impact workers with 4-12 years' experience.
"This (fear stemming from TCS layoffs) may hurt consumer demand for tourism, luxury shopping and even delay long-term investments such as real estate," Vasu said.
TCS and its peers Infosys INFY.NS, HCLTech HCLT.NS, Tech Mahindra TEML.NS, Wipro WIPR.NS, LTIMindtree LTIM.NS, and Cognizant CTSH.O collectively employ over 430,000 workers with 13 to 25 years of experience, according to staffing firm Xpheno.
"At the moment, they may appear like the big fat middle layer," Xpheno's co-founder Kamal Karanth said. None of the IT firms responded to Reuters queries seeking comment.
"With cost optimization being the key driver for new deal wins, clients are asking for productivity benefits - a trend which is also growing due to the rise in AI adoption. This requires IT firms to do more work with the same number of employees or the same work with fewer employees," Jefferies analyst Akshat Agarwal said in a research note.
ADAPT OR PERISH
TCS, which had more than 613,000 workers before the layoffs, said in its late July announcement it was gearing up to be "future-ready" by investing in new technologies, entering new markets, deploying AI at scale for its clients and itself, and realigning its workforce model. It did not answer Reuters queries on how many layoffs were tied to AI adoption and why it could not redeploy the affected employees.
"This is very devastating news," said a 45-year-old, Kolkata-based TCS employee affected by the latest layoffs. "It is very difficult for people my age to get new jobs."
Some others who are still at TCS fretted over its mediocre performance bonuses for senior employees in recent quarters, a new "bench policy" that limits the time somebody could be without a project regardless of personal circumstances or past performance, on-boarding delays, and the emotional turmoil caused by the layoffs.
"All these developments have tanked the morale of mid-career folks like me," a Pune-based TCS employee said.
The Indian outsourcing sector has been a key employment engine since the 1990s, offering upward mobility to millions of engineers. But revenue growth has weakened recently as its clients, stung by inflation and U.S. tariff uncertainty, defer discretionary spending and demand better cost management.
"The tech industry is at an inflection point, as AI and automation move to the very core of how businesses operate," industry body Nasscom said.
During past tech revolutions, disruption was felt at the organisational level.
"With AI, for the first time, the onus is on the individual to reinvent or re-skill themselves," former Tech Mahindra CEO CP Gurnani said.
Yearly net headcount addition by India's top 5 IT firms https://reut.rs/45FEgkY
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Dhanya Skariachan and Kim Coghill)
HCLtech Partners With Pearson
July 29 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH AND PEARSON PARTNER
PARTNERSHIP FOR WORKFORCE READINESS IN AI
Source text: ID:nBSEHJGCY
Further company coverage: HCLT.NS
(([email protected];))
July 29 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH AND PEARSON PARTNER
PARTNERSHIP FOR WORKFORCE READINESS IN AI
Source text: ID:nBSEHJGCY
Further company coverage: HCLT.NS
(([email protected];))
Wipro shares rise as Indian IT firm's quarterly results top estimates
Wipro's performance contrasts with TCS and HCLTech's weaker revenue
Stock tops Nifty 50 and IT index
At least six brokerages upgrade stock post-earnings
Adds analysts comments in paragraph 7 and 8, stock details in paragraph 3
July 18 (Reuters) - India's Wipro WIPR.NS rose as much as 4% on Friday after the country's fourth-largest IT firm reported better-than-expected quarterly earnings, driven by improved client spending in segments of its Americas business.
At least six brokerages upgraded Wipro's stock after the company posted a 0.8% rise in first-quarter revenue and an 11% jump in net profit, both topping analysts' average estimates, according to LSEG data.
Data also showed that at least 10 brokerages raised their price targets on the stock, which was the top gainer on the benchmark Nifty 50 index and the IT index .NIFTYIT early on Friday. The blue-chip index and the IT index were both down 0.6% and 0.2%, respectively.
India's fourth-largest IT company said it expects revenue for the September quarter to be in the range of $2.56 billion and $2.61 billion, ranging between a drop of 1% and a rise of 1%, in line with what analysts were expecting.
Analysts at Morgan Stanley said strong large deal wins at Wipro "bode well" for growth in the second half of the fiscal year, while those at Investec said deal wins were the "big highlight of the quarter," and were the highest in more-than 13 quarters.
Wipro's deal wins rose to $5 billion in the quarter, up from $3.3 billion a year earlier.
"More importantly, these large deals are concentrated among Wipro's top clients, which implies greater wallet share," Morgan Stanley analysts said in a note.
Wipro's quarterly performance stood in contrast to rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS, which reported weaker revenue for the same period.
TCS and Infosys INFY.NS shares were up 0.1%, while HCLTech shares were down 0.8% on Friday.
(Reporting by Manvi Pant; Editing by Chandini Monnappa and Nivedita Bhattacharjee)
(([email protected]; +918447554364;))
Wipro's performance contrasts with TCS and HCLTech's weaker revenue
Stock tops Nifty 50 and IT index
At least six brokerages upgrade stock post-earnings
Adds analysts comments in paragraph 7 and 8, stock details in paragraph 3
July 18 (Reuters) - India's Wipro WIPR.NS rose as much as 4% on Friday after the country's fourth-largest IT firm reported better-than-expected quarterly earnings, driven by improved client spending in segments of its Americas business.
At least six brokerages upgraded Wipro's stock after the company posted a 0.8% rise in first-quarter revenue and an 11% jump in net profit, both topping analysts' average estimates, according to LSEG data.
Data also showed that at least 10 brokerages raised their price targets on the stock, which was the top gainer on the benchmark Nifty 50 index and the IT index .NIFTYIT early on Friday. The blue-chip index and the IT index were both down 0.6% and 0.2%, respectively.
India's fourth-largest IT company said it expects revenue for the September quarter to be in the range of $2.56 billion and $2.61 billion, ranging between a drop of 1% and a rise of 1%, in line with what analysts were expecting.
Analysts at Morgan Stanley said strong large deal wins at Wipro "bode well" for growth in the second half of the fiscal year, while those at Investec said deal wins were the "big highlight of the quarter," and were the highest in more-than 13 quarters.
Wipro's deal wins rose to $5 billion in the quarter, up from $3.3 billion a year earlier.
"More importantly, these large deals are concentrated among Wipro's top clients, which implies greater wallet share," Morgan Stanley analysts said in a note.
Wipro's quarterly performance stood in contrast to rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS, which reported weaker revenue for the same period.
TCS and Infosys INFY.NS shares were up 0.1%, while HCLTech shares were down 0.8% on Friday.
(Reporting by Manvi Pant; Editing by Chandini Monnappa and Nivedita Bhattacharjee)
(([email protected]; +918447554364;))
Wipro first quarter results top estimates as Indian IT firm sees some strong client spending
Updates with analyst comment, company commentary
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, July 17 (Reuters) - Wipro WIPR.NS beat June-quarter estimates as improved client spending in parts of its Americas business boosted performance and forecast current-quarter revenue in line with expectations.
The results and forecast eased investor concerns after months of subdued outlook, sending U.S.-listed shares of the company up 1.4% in pre-market trading.
India's fourth-largest IT company expects revenue for the September quarter to be in the range of $2.56 billion and $2.61 billion, ranging between a drop of 1% and a rise of 1%, in line with what analysts were expecting.
"The revenue growth forecast gives an indication that uncertainty is reducing, which looks positive overall. Generally, Wipro has not shown positive growth in a weak macro environment," said Sushovon Nayak, IT analyst at Anand Rathi.
India's $283-billion IT sector had hoped a Trump presidency would revive client confidence, but lingering uncertainty over U.S. tariff policies had led to clients keeping discretionary spending on hold.
However, Wipro's revenue in the June quarter rose 0.8% to 221.35 billion rupees ($2.57 billion) and net profit rose 11% to 33.3 billion rupees, both topping analysts' mean estimate of 220.59 billion rupees and 32.55 billion rupees respectively, as per data from LSEG.
Larger peers Tata Consultancy Services TCS.NS and HCLTech HCLT.NS missed quarterly revenue estimates, citing continued softness in demand but said the environment has stabilized and not worsened further.
Wipro chief executive Srini Pallia said the quarter started with the company facing "significant macro uncertainty".
Europe saw the steepest revenue decline during the quarter of 8.1% and continues to face headwinds, but Pallia said there was strong deal momentum in the Americas.
Revenue fell in three of Wipro's five segments, even as deal wins rose to $5 billion in the quarter, up from $3.3 billion a year earlier.
($1 = 86.0390 Indian rupees)
(Reporting by Haripriya Suresh, Editing by Nivedita Bhattacharjee)
(([email protected];))
Updates with analyst comment, company commentary
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, July 17 (Reuters) - Wipro WIPR.NS beat June-quarter estimates as improved client spending in parts of its Americas business boosted performance and forecast current-quarter revenue in line with expectations.
The results and forecast eased investor concerns after months of subdued outlook, sending U.S.-listed shares of the company up 1.4% in pre-market trading.
India's fourth-largest IT company expects revenue for the September quarter to be in the range of $2.56 billion and $2.61 billion, ranging between a drop of 1% and a rise of 1%, in line with what analysts were expecting.
"The revenue growth forecast gives an indication that uncertainty is reducing, which looks positive overall. Generally, Wipro has not shown positive growth in a weak macro environment," said Sushovon Nayak, IT analyst at Anand Rathi.
India's $283-billion IT sector had hoped a Trump presidency would revive client confidence, but lingering uncertainty over U.S. tariff policies had led to clients keeping discretionary spending on hold.
However, Wipro's revenue in the June quarter rose 0.8% to 221.35 billion rupees ($2.57 billion) and net profit rose 11% to 33.3 billion rupees, both topping analysts' mean estimate of 220.59 billion rupees and 32.55 billion rupees respectively, as per data from LSEG.
Larger peers Tata Consultancy Services TCS.NS and HCLTech HCLT.NS missed quarterly revenue estimates, citing continued softness in demand but said the environment has stabilized and not worsened further.
Wipro chief executive Srini Pallia said the quarter started with the company facing "significant macro uncertainty".
Europe saw the steepest revenue decline during the quarter of 8.1% and continues to face headwinds, but Pallia said there was strong deal momentum in the Americas.
Revenue fell in three of Wipro's five segments, even as deal wins rose to $5 billion in the quarter, up from $3.3 billion a year earlier.
($1 = 86.0390 Indian rupees)
(Reporting by Haripriya Suresh, Editing by Nivedita Bhattacharjee)
(([email protected];))
India IT demand outlook remains uncertain amid US tariff risks, says Wipro chair
BENGALURU, July 16 (Reuters) - The demand outlook for India's $283-billion IT sector remains uncertain due to U.S. tariff risks and global geopolitical factors, a senior Wipro WIPR.NS executive said on Wednesday.
"Customers are getting acclimatised to living in a world that is uncertain," said Rishad Premji, executive chairman of the country's fourth-largest IT firm by revenue.
"The (overall) environment remains uncertain. It has not gotten any worse but not gotten significantly better at the moment."
He was speaking at the company's annual shareholder meeting ahead of first-quarter results scheduled to be announced on Thursday.
Clients have tightened non-essential or discretionary spending and are focussing more on cost-cutting projects enabled through tech, said Premji.
Uncertainty around U.S. tariffs have dashed hopes of IT companies of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects.
Premji, however, said green shoots had emerged in pockets in terms of discretionary spending.
Indian IT companies have so far reported tepid earnings for the June quarter.
Last Thursday, bellwether Tata Consultancy Services TCS.NS missed quarterly revenue estimates as its clients stayed cautious about non-essential spending amid U.S. tariff-related uncertainty.
TCS CEO K Krithivasan said delays in decision-making and project starts "intensified" in the June quarter, adding that it was "too early" to predict when the growth would resume.
HCLTech HCLT.NS reported June-quarter profit below analyst estimates on Monday and lowered its operating margin forecast for fiscal 2026.
(Reporting by Sai Ishwarbharath B; Editing by Subhranshu Sahu)
(([email protected];))
BENGALURU, July 16 (Reuters) - The demand outlook for India's $283-billion IT sector remains uncertain due to U.S. tariff risks and global geopolitical factors, a senior Wipro WIPR.NS executive said on Wednesday.
"Customers are getting acclimatised to living in a world that is uncertain," said Rishad Premji, executive chairman of the country's fourth-largest IT firm by revenue.
"The (overall) environment remains uncertain. It has not gotten any worse but not gotten significantly better at the moment."
He was speaking at the company's annual shareholder meeting ahead of first-quarter results scheduled to be announced on Thursday.
Clients have tightened non-essential or discretionary spending and are focussing more on cost-cutting projects enabled through tech, said Premji.
Uncertainty around U.S. tariffs have dashed hopes of IT companies of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects.
Premji, however, said green shoots had emerged in pockets in terms of discretionary spending.
Indian IT companies have so far reported tepid earnings for the June quarter.
Last Thursday, bellwether Tata Consultancy Services TCS.NS missed quarterly revenue estimates as its clients stayed cautious about non-essential spending amid U.S. tariff-related uncertainty.
TCS CEO K Krithivasan said delays in decision-making and project starts "intensified" in the June quarter, adding that it was "too early" to predict when the growth would resume.
HCLTech HCLT.NS reported June-quarter profit below analyst estimates on Monday and lowered its operating margin forecast for fiscal 2026.
(Reporting by Sai Ishwarbharath B; Editing by Subhranshu Sahu)
(([email protected];))
India's HCLTech slides on lower annual operating margin forecast
HCLTech top loser on Nifty 50 and Nifty IT indexes
At least 6 brokerages downgrade HCLTech, 8 cut price targets - LSEG
HCLTech cuts FY26 operating margin forecast to 17%-18% range
Adds background, analysts comments from paragraph 7 onwards
July 15 (Reuters) - Shares of HCLTech HCLT.NS fell as much as 4.3% on Tuesday, a day after India's No. 3 software services provider lowered its annual operating margin forecast, dampening hopes of a rebound in client spending across the sector.
HCLTech was the top loser on benchmark Nifty 50 index .NSEI and the Nifty IT index .NIFTYIT, which were up 0.6% and 1%, respectively, as of 11:11 a.m. IST.
At least eight brokerages cut their price targets on the stock after the IT firm reduced its operating margin forecast for fiscal year 2026 to a range of 17% to 18% from a previous projection of 18% to 19%.
At least six brokerages downgraded the stock, data compiled by LSEG showed. The average rating of 41 analysts is "hold".
Tariff-related uncertainty in the United States -- the biggest market for India's $283 billion IT sector -- has dashed hopes for a rebound in client confidence and spending. A survey in May showed two in five tech executives had deferred discretionary projects.
HCLTech's consolidated net profit for the June quarter fell 9.7% on-year to 38.43 billion rupees ($447 million) even as its revenue beat analysts' average estimates.
The company's order bookings for the quarter stood at $1.81 billion, compared with $1.96 billion a year ago, and its operating margin declined 80 basis points to 16.3%.
CEO C Vijayakumar said in a post-earnings call that the company will undertake further restructuring in the ongoing fiscal year. Analysts said the restructuring costs will spill over to the second quarter and pressure margins.
Analysts at Emkay Global said "the margin cut disappoints", while Antique Stock Broking said the drop in margins was "a bigger surprise".
Industry leader, Tata Consultancy Services TCS.NS, earlier this month, missed quarterly revenue estimates, driven by a dip in four of its six verticals.
($1 = 85.9200 Indian rupees)
(Reporting by Manvi Pant; Editing by Sonia Cheema, Mrigank Dhaniwala and Eileen Soreng)
(([email protected]; +918447554364;))
HCLTech top loser on Nifty 50 and Nifty IT indexes
At least 6 brokerages downgrade HCLTech, 8 cut price targets - LSEG
HCLTech cuts FY26 operating margin forecast to 17%-18% range
Adds background, analysts comments from paragraph 7 onwards
July 15 (Reuters) - Shares of HCLTech HCLT.NS fell as much as 4.3% on Tuesday, a day after India's No. 3 software services provider lowered its annual operating margin forecast, dampening hopes of a rebound in client spending across the sector.
HCLTech was the top loser on benchmark Nifty 50 index .NSEI and the Nifty IT index .NIFTYIT, which were up 0.6% and 1%, respectively, as of 11:11 a.m. IST.
At least eight brokerages cut their price targets on the stock after the IT firm reduced its operating margin forecast for fiscal year 2026 to a range of 17% to 18% from a previous projection of 18% to 19%.
At least six brokerages downgraded the stock, data compiled by LSEG showed. The average rating of 41 analysts is "hold".
Tariff-related uncertainty in the United States -- the biggest market for India's $283 billion IT sector -- has dashed hopes for a rebound in client confidence and spending. A survey in May showed two in five tech executives had deferred discretionary projects.
HCLTech's consolidated net profit for the June quarter fell 9.7% on-year to 38.43 billion rupees ($447 million) even as its revenue beat analysts' average estimates.
The company's order bookings for the quarter stood at $1.81 billion, compared with $1.96 billion a year ago, and its operating margin declined 80 basis points to 16.3%.
CEO C Vijayakumar said in a post-earnings call that the company will undertake further restructuring in the ongoing fiscal year. Analysts said the restructuring costs will spill over to the second quarter and pressure margins.
Analysts at Emkay Global said "the margin cut disappoints", while Antique Stock Broking said the drop in margins was "a bigger surprise".
Industry leader, Tata Consultancy Services TCS.NS, earlier this month, missed quarterly revenue estimates, driven by a dip in four of its six verticals.
($1 = 85.9200 Indian rupees)
(Reporting by Manvi Pant; Editing by Sonia Cheema, Mrigank Dhaniwala and Eileen Soreng)
(([email protected]; +918447554364;))
HCLTech Q1 Consol Net Profit 38.43 Billion Rupees
July 14 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH Q1 CONSOL NET PROFIT 38.43 BILLION RUPEES; IBES EST. 60.70 BILLION RUPEES
HCLTECH Q1 CONSOL REVENUE FROM OPERATIONS 303.49 BILLION RUPEES; IBES EST. 302.92 BILLION RUPEES
HCLTECH - DIVIDEND 12 RUPEES/SHARE
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];;))
July 14 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH Q1 CONSOL NET PROFIT 38.43 BILLION RUPEES; IBES EST. 60.70 BILLION RUPEES
HCLTECH Q1 CONSOL REVENUE FROM OPERATIONS 303.49 BILLION RUPEES; IBES EST. 302.92 BILLION RUPEES
HCLTECH - DIVIDEND 12 RUPEES/SHARE
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];;))
TCS revenue falls short as tariffs cast shadow on client spending
Delays in decision-making and project starts intensified - CEO
Passage of the U.S. spending bill could provide some clarity
US-listed shares of rivals Infosys and Wipro drop sharply
Recasts throughout; adds CEO, analyst comments
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 10 (Reuters) - Tata Consultancy Services TCS.NS, India's top software-services exporter, missed quarterly revenue estimates on Thursday as its clients stayed cautious about non-essential spending amid tariff-related uncertainty.
The revenue shortfall at TCS, the first Indian tech major to report results, raised concerns about future demand for the country's $283 billion IT sector and dragged down U.S. listed shares of rivals Infosys INFY.NS and Wipro WIPR.NS.
"The trend of delays in decision-making and project starts with respect to discretionary spends has continued and intensified in this quarter," CEO K Krithivasan said on a conference call.
While it is "too early" to predict when growth will resume, the passage of the U.S. spending bill could provide some clarity by the end of July or early August, Krithivasan said.
Consolidated sales in the first quarter rose 1.3% to 634.37 billion rupees ($7.40 billion), missing analysts' average estimate of 646.66 billion rupees, according to data compiled by LSEG.
Uncertainty around U.S. tariffs has quashed IT companies' hopes of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects.
TCS's revenue in four out of its six verticals fell compared to the same period last year, while banking and financial services' revenue grew 1% and tech services rose 1.8%.
Its total order bookings stood at $9.4 billion during the quarter, versus $12.2 billion in the previous quarter and $8.3 billion in the year-ago period.
"The weak topline numbers highlight cautiousness among clients," said Sagar Shetty, research analyst at StoxBox.
"This theme would likely spill over to (other) tier 1 companies as well. Drag in deal wins also undermines revenue visibility, which might warrant revision in upper end of guidance (for other companies)," Shetty said.
HCLTech HCLT.NS, Infosys and Wipro report results later in July. U.S.-listed shares of Infosys fell 3.3%, while those of Wipro were down 4.2% as of 1920 IST.
TCS's net profit rose 6% to 127.60 billion rupees, while analysts expected 122.16 billion rupees. The profit beat was largely tied to a wage hike delay and a jump in other income.
($1 = 85.6690 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Dhanya Skariachan, Mrigank Dhaniwala and Saumyadeb Chakrabarty)
(([email protected];))
Delays in decision-making and project starts intensified - CEO
Passage of the U.S. spending bill could provide some clarity
US-listed shares of rivals Infosys and Wipro drop sharply
Recasts throughout; adds CEO, analyst comments
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 10 (Reuters) - Tata Consultancy Services TCS.NS, India's top software-services exporter, missed quarterly revenue estimates on Thursday as its clients stayed cautious about non-essential spending amid tariff-related uncertainty.
The revenue shortfall at TCS, the first Indian tech major to report results, raised concerns about future demand for the country's $283 billion IT sector and dragged down U.S. listed shares of rivals Infosys INFY.NS and Wipro WIPR.NS.
"The trend of delays in decision-making and project starts with respect to discretionary spends has continued and intensified in this quarter," CEO K Krithivasan said on a conference call.
While it is "too early" to predict when growth will resume, the passage of the U.S. spending bill could provide some clarity by the end of July or early August, Krithivasan said.
Consolidated sales in the first quarter rose 1.3% to 634.37 billion rupees ($7.40 billion), missing analysts' average estimate of 646.66 billion rupees, according to data compiled by LSEG.
Uncertainty around U.S. tariffs has quashed IT companies' hopes of a revival in client confidence and spending in its biggest market. A survey in May showed two in five tech executives had deferred discretionary projects.
TCS's revenue in four out of its six verticals fell compared to the same period last year, while banking and financial services' revenue grew 1% and tech services rose 1.8%.
Its total order bookings stood at $9.4 billion during the quarter, versus $12.2 billion in the previous quarter and $8.3 billion in the year-ago period.
"The weak topline numbers highlight cautiousness among clients," said Sagar Shetty, research analyst at StoxBox.
"This theme would likely spill over to (other) tier 1 companies as well. Drag in deal wins also undermines revenue visibility, which might warrant revision in upper end of guidance (for other companies)," Shetty said.
HCLTech HCLT.NS, Infosys and Wipro report results later in July. U.S.-listed shares of Infosys fell 3.3%, while those of Wipro were down 4.2% as of 1920 IST.
TCS's net profit rose 6% to 127.60 billion rupees, while analysts expected 122.16 billion rupees. The profit beat was largely tied to a wage hike delay and a jump in other income.
($1 = 85.6690 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Dhanya Skariachan, Mrigank Dhaniwala and Saumyadeb Chakrabarty)
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HCLTech and Astemo Cypremos Partner
July 9 (Reuters) - HCL Technologies Ltd HCLT.NS:
ASTEMO CYPREMOS PARTNERS WITH HCLTECH
PARTNERSHIP FOR AUTONOMOUS AND SMART VEHICLES ECOSYSTEM
Source text: ID:nNSE6Vt2QD
Further company coverage: HCLT.NS
(([email protected];;))
July 9 (Reuters) - HCL Technologies Ltd HCLT.NS:
ASTEMO CYPREMOS PARTNERS WITH HCLTECH
PARTNERSHIP FOR AUTONOMOUS AND SMART VEHICLES ECOSYSTEM
Source text: ID:nNSE6Vt2QD
Further company coverage: HCLT.NS
(([email protected];;))
HCLTech Named Workday Sales Partner
July 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH NAMED WORKDAY SALES PARTNER
PARTNERSHIP FOR AI-LED HUMAN CAPITAL MANAGEMENT SOLUTIONS, WORKFORCE TRANSFORMATION
Source text: ID:nBSE9p5Fgf
Further company coverage: HCLT.NS
(([email protected];;))
July 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH NAMED WORKDAY SALES PARTNER
PARTNERSHIP FOR AI-LED HUMAN CAPITAL MANAGEMENT SOLUTIONS, WORKFORCE TRANSFORMATION
Source text: ID:nBSE9p5Fgf
Further company coverage: HCLT.NS
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HCLTech Says HCLSoftware Launches Sovereign AI
July 7 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLSOFTWARE LAUNCHES SOVEREIGN AI
Source text: ID:nBSE3nJDzR
Further company coverage: HCLT.NS
(([email protected];;))
July 7 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLSOFTWARE LAUNCHES SOVEREIGN AI
Source text: ID:nBSE3nJDzR
Further company coverage: HCLT.NS
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Hcltech, Equinor Expand Digital Collaboration
July 2 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND EQUINOR EXPAND DIGITAL COLLABORATION
Source text: ID:nnAZN42UPN1
Further company coverage: HCLT.NS
(([email protected];))
July 2 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND EQUINOR EXPAND DIGITAL COLLABORATION
Source text: ID:nnAZN42UPN1
Further company coverage: HCLT.NS
(([email protected];))
HCL Technologies, AMD Announce Strategic Alliance
June 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCL TECHNOLOGIES LTD - HCLTECH AND AMD ANNOUNCE STRATEGIC ALLIANCE
Source text: ID:nNSE7Pdh9K
Further company coverage: HCLT.NS
(([email protected];))
June 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCL TECHNOLOGIES LTD - HCLTECH AND AMD ANNOUNCE STRATEGIC ALLIANCE
Source text: ID:nNSE7Pdh9K
Further company coverage: HCLT.NS
(([email protected];))
HCL Technologies Selected By ASISA As Strategic IT Partner
June 17 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH SELECTED BY ASISA AS STRATEGIC IT PARTNER
Source text: ID:nNSE5jgP6Z
Further company coverage: HCLT.NS
(([email protected];;))
June 17 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH SELECTED BY ASISA AS STRATEGIC IT PARTNER
Source text: ID:nNSE5jgP6Z
Further company coverage: HCLT.NS
(([email protected];;))
HCLTech And UiPath Announce Strategic Partnership
June 2 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCL TECHNOLOGIES LTD - HCLTECH AND UIPATH ANNOUNCE STRATEGIC PARTNERSHIP
HCL TECHNOLOGIES LTD - PARTNERSHIP TO ENABLE INTELLIGENT AND SELF-SUFFICIENT OPERATIONS
Further company coverage: HCLT.NS
(([email protected];))
June 2 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCL TECHNOLOGIES LTD - HCLTECH AND UIPATH ANNOUNCE STRATEGIC PARTNERSHIP
HCL TECHNOLOGIES LTD - PARTNERSHIP TO ENABLE INTELLIGENT AND SELF-SUFFICIENT OPERATIONS
Further company coverage: HCLT.NS
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India approves HCL-Foxconn joint venture semiconductor unit
Corrects paragraph 1 to correct company name to HCL Group, not HCL Technologies
NEW DELHI, May 14 (Reuters) - India's cabinet on Wednesday approved a new semiconductor unit, a joint venture between HCL Group and Foxconn 2317.TW, costing 37.06 billion rupees ($434.72 million) and to be located in the northern state of Uttar Pradesh, information minister Ashwini Vaishnaw said.
($1 = 85.2500 Indian rupees)
(Reporting by CK Nayak and Tanvi Mehta; Editing by YP Rajesh)
Corrects paragraph 1 to correct company name to HCL Group, not HCL Technologies
NEW DELHI, May 14 (Reuters) - India's cabinet on Wednesday approved a new semiconductor unit, a joint venture between HCL Group and Foxconn 2317.TW, costing 37.06 billion rupees ($434.72 million) and to be located in the northern state of Uttar Pradesh, information minister Ashwini Vaishnaw said.
($1 = 85.2500 Indian rupees)
(Reporting by CK Nayak and Tanvi Mehta; Editing by YP Rajesh)
Hcltech Signs European Commission's Ai Pact To Drive Responsible AI
May 12 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH SIGNS EUROPEAN COMMISSION'S AI PACT TO DRIVE RESPONSIBLE AI
Source text: ID:nBSE17qjwb
Further company coverage: HCLT.NS
(([email protected];;))
May 12 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH SIGNS EUROPEAN COMMISSION'S AI PACT TO DRIVE RESPONSIBLE AI
Source text: ID:nBSE17qjwb
Further company coverage: HCLT.NS
(([email protected];;))
India's HCLTech gains on sector-leading FY26 revenue growth forecast
** HCL Technolgies HCLT.NS rise 6.4% to 1575 rupees, their biggest one-day gain since Sept. 2020, leading gains on IT index .NIFTYIT, which is up 3.2%
** IT services co's FY26 2-5% rev growth forecast a positive surprise despite soft Q4 -UBS ("buy;" PT 1900 rupees)
** JP Morgan ("neutral;" PT:1700 rupees): co's results, forecast a rare feat, best among peers, in a season of disappointing earnings, guidances
** While co called out caution in macro environment with potential pressures on discretionary spends, hasn't seen any of this impact yet - Goldman Sachs ("neutral;" PT:1570 rupees)
** Ambit Capital ("sell;" TP:1450 rupees) expects HCL Tech to outperform peers TCS TCS.NS, Infosys INFY.NS due to its stronger mix in cloud, infra, products, likely ER&D rebound
(Reporting by Aleef Jahan in Bengaluru)
** HCL Technolgies HCLT.NS rise 6.4% to 1575 rupees, their biggest one-day gain since Sept. 2020, leading gains on IT index .NIFTYIT, which is up 3.2%
** IT services co's FY26 2-5% rev growth forecast a positive surprise despite soft Q4 -UBS ("buy;" PT 1900 rupees)
** JP Morgan ("neutral;" PT:1700 rupees): co's results, forecast a rare feat, best among peers, in a season of disappointing earnings, guidances
** While co called out caution in macro environment with potential pressures on discretionary spends, hasn't seen any of this impact yet - Goldman Sachs ("neutral;" PT:1570 rupees)
** Ambit Capital ("sell;" TP:1450 rupees) expects HCL Tech to outperform peers TCS TCS.NS, Infosys INFY.NS due to its stronger mix in cloud, infra, products, likely ER&D rebound
(Reporting by Aleef Jahan in Bengaluru)
DIARY-India economic, corporate events on April 22
BENGALURU, April 22 Reuters - Diary of India economic, corporate events on April 22
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
22-Apr-2025 | NTS | AUFI.NS | AU Small Finance Bank Ltd | Q4 2025 AU Small Finance Bank Ltd Earnings Release |
22-Apr-2025 | NTS | HVEL.NS | Havells India Ltd | Q4 2025 Havells India Ltd Earnings Release |
22-Apr-2025 | AMC | HCLT.NS | HCL Technologies Ltd | Q4 2025 HCL Technologies Ltd Earnings Release |
22-Apr-2025 | NTS | MMFS.NS | Mahindra and Mahindra Financial Services Ltd | Q4 2025 Mahindra and Mahindra Financial Services Ltd Earnings Release |
22-Apr-2025 | NTS | TATA.NS | Tata Communications Ltd | Q4 2025 Tata Communications Ltd Earnings Release |
(Compiled by Bengaluru Newsroom)
BENGALURU, April 22 Reuters - Diary of India economic, corporate events on April 22
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
22-Apr-2025 | NTS | AUFI.NS | AU Small Finance Bank Ltd | Q4 2025 AU Small Finance Bank Ltd Earnings Release |
22-Apr-2025 | NTS | HVEL.NS | Havells India Ltd | Q4 2025 Havells India Ltd Earnings Release |
22-Apr-2025 | AMC | HCLT.NS | HCL Technologies Ltd | Q4 2025 HCL Technologies Ltd Earnings Release |
22-Apr-2025 | NTS | MMFS.NS | Mahindra and Mahindra Financial Services Ltd | Q4 2025 Mahindra and Mahindra Financial Services Ltd Earnings Release |
22-Apr-2025 | NTS | TATA.NS | Tata Communications Ltd | Q4 2025 Tata Communications Ltd Earnings Release |
(Compiled by Bengaluru Newsroom)
India's Wipro forecasts weak first quarter revenue, warns of cautious clients
Adds CEO comments from press conference, share price change from paragraph 3
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, April 16 (Reuters) - Wipro WIPR.NS on Wednesday forecast a sequential decline in first-quarter revenue, joining bigger rival TCS TCS.NS in flagging demand uncertainties across India's $283 billion IT sector as shifting tariffs upend global industries and client decision-making.
U.S.-listed shares of India's fourth-largest IT services firm fell 5% at $2.71 in premarket trading after the company said it expects revenue in the April–June quarter to fall between 1.5% and 3.5%.
Wipro and other Indian IT companies have boosted revenue in the past decades by deploying engineers for tasks from app development to cybersecurity, but growth has slowed in recent years as more clients establish local operations to handle tech work in-house.
"Going from FY25 to FY26, the uncertainties have dramatically increased," chief executive CEO Srini Pallia said in a post-earnings conference, adding that the automotive and industrial segments were "really impacted" due to the U.S. tariff-related flip-flops.
Trump’s 25% automotive import tariffs took effect on April 3, causing shock waves across the industry since supplies come from all over the world.
Wipro, which counts Volkswagen VOWG.DE and Yamaha 7951.T as clients, saw revenue from its energy resources and manufacturing segment fall 7% in the quarter.
Industry leader TCS missed fourth-quarter earnings estimates last week and warned about clients delaying decision-making in discretionary projects.
Wipro's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter-ended March, but missed analyst estimates of 226.21 billion rupees, as per data compiled by LSEG. Net profit rose 26% to 35.7 billion rupees.
Mumbai-based brokerage firm Dolat Capital had expected Wipro's June-quarter revenue to range from a 1% drop to 1% growth, said analyst Rahul Jain.
Revenue in three out of the company's five verticals fell during the quarter, while deal wins stood at $4 billion, compared to $3.61 billion last year.
Wipro said its deal pipeline across U.S. and Europe was expected to be strong in the medium term despite the macro overhang.
India's second-largest IT firm Infosys INFY.NS reports results on Thursday while third-largest firm HCLTech HCLT.NS will report next week.
($1 = 85.6410 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Nivedita Bhattacharjee)
Adds CEO comments from press conference, share price change from paragraph 3
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, April 16 (Reuters) - Wipro WIPR.NS on Wednesday forecast a sequential decline in first-quarter revenue, joining bigger rival TCS TCS.NS in flagging demand uncertainties across India's $283 billion IT sector as shifting tariffs upend global industries and client decision-making.
U.S.-listed shares of India's fourth-largest IT services firm fell 5% at $2.71 in premarket trading after the company said it expects revenue in the April–June quarter to fall between 1.5% and 3.5%.
Wipro and other Indian IT companies have boosted revenue in the past decades by deploying engineers for tasks from app development to cybersecurity, but growth has slowed in recent years as more clients establish local operations to handle tech work in-house.
"Going from FY25 to FY26, the uncertainties have dramatically increased," chief executive CEO Srini Pallia said in a post-earnings conference, adding that the automotive and industrial segments were "really impacted" due to the U.S. tariff-related flip-flops.
Trump’s 25% automotive import tariffs took effect on April 3, causing shock waves across the industry since supplies come from all over the world.
Wipro, which counts Volkswagen VOWG.DE and Yamaha 7951.T as clients, saw revenue from its energy resources and manufacturing segment fall 7% in the quarter.
Industry leader TCS missed fourth-quarter earnings estimates last week and warned about clients delaying decision-making in discretionary projects.
Wipro's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter-ended March, but missed analyst estimates of 226.21 billion rupees, as per data compiled by LSEG. Net profit rose 26% to 35.7 billion rupees.
Mumbai-based brokerage firm Dolat Capital had expected Wipro's June-quarter revenue to range from a 1% drop to 1% growth, said analyst Rahul Jain.
Revenue in three out of the company's five verticals fell during the quarter, while deal wins stood at $4 billion, compared to $3.61 billion last year.
Wipro said its deal pipeline across U.S. and Europe was expected to be strong in the medium term despite the macro overhang.
India's second-largest IT firm Infosys INFY.NS reports results on Thursday while third-largest firm HCLTech HCLT.NS will report next week.
($1 = 85.6410 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Nivedita Bhattacharjee)
HCLTech Achieves Three Key Google Cloud Partner Specializations
April 11 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH ACHIEVES THREE KEY GOOGLE CLOUD PARTNER SPECIALIZATIONS
Source text: ID:nBSE8yNFWk
Further company coverage: HCLT.NS
(([email protected];;))
April 11 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH ACHIEVES THREE KEY GOOGLE CLOUD PARTNER SPECIALIZATIONS
Source text: ID:nBSE8yNFWk
Further company coverage: HCLT.NS
(([email protected];;))
India's TCS misses fourth-quarter revenue estimates
BENGALURU, April 10 (Reuters) - India's largest software services provider Tata Consultancy Services TCS.NS posted lower-than-expected revenue for the fourth quarter due to persistent weakness in North America, its largest market.
The company's consolidated revenue rose 5.3% to 644.79 billion rupees ($7.49 billion) in the quarter. Analysts, on average, expected 647.58 billion rupees, per data compiled by LSEG.
($1 = 86.1390 Indian rupees)
(Reporting by Haripriya Suresh; Editing by Devika Syamnath)
(([email protected];))
BENGALURU, April 10 (Reuters) - India's largest software services provider Tata Consultancy Services TCS.NS posted lower-than-expected revenue for the fourth quarter due to persistent weakness in North America, its largest market.
The company's consolidated revenue rose 5.3% to 644.79 billion rupees ($7.49 billion) in the quarter. Analysts, on average, expected 647.58 billion rupees, per data compiled by LSEG.
($1 = 86.1390 Indian rupees)
(Reporting by Haripriya Suresh; Editing by Devika Syamnath)
(([email protected];))
REFILE-Indian IT firms brace for impact as tariffs fan US recession fears
Corrects syntax in paragraph 1
By Haripriya Suresh
BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.
Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.
That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.
The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.
The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.
"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.
At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.
Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.
"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.
He added the impact of a potential slowdown could be apparent by the September quarter.
India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.
Geographical breakup of revenues of IT companies. https://reut.rs/4jaQGFs
Indian IT firms exposure to verticals https://reut.rs/42gWcjc
(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)
(([email protected];))
Corrects syntax in paragraph 1
By Haripriya Suresh
BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.
Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.
That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.
The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.
The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.
"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.
At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.
Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.
"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.
He added the impact of a potential slowdown could be apparent by the September quarter.
India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.
Geographical breakup of revenues of IT companies. https://reut.rs/4jaQGFs
Indian IT firms exposure to verticals https://reut.rs/42gWcjc
(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)
(([email protected];))
Hcltech Joins Samsung Advanced Foundry Ecosystem As A Design Solution Partner
March 27 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - JOINS SAMSUNG ADVANCED FOUNDRY ECOSYSTEM AS A DESIGN SOLUTION PARTNER
HCLTECH - TO OFFER COMPREHENSIVE APPLICATION-SPECIFIC INTEGRATED CIRCUIT DESIGN SERVICES
Source text: ID:nBSE221dQ4
Further company coverage: HCLT.NS
(([email protected];;))
March 27 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - JOINS SAMSUNG ADVANCED FOUNDRY ECOSYSTEM AS A DESIGN SOLUTION PARTNER
HCLTECH - TO OFFER COMPREHENSIVE APPLICATION-SPECIFIC INTEGRATED CIRCUIT DESIGN SERVICES
Source text: ID:nBSE221dQ4
Further company coverage: HCLT.NS
(([email protected];;))
Western Union Forms Strategic Partnership With Hcltech
March 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
WESTERN UNION FORMS STRATEGIC PARTNERSHIP WITH HCLTECH
PARTNERSHIP TO TRANSITION TO AN AI LED PLATFORM OPERATING MODEL
Source text: ID:nnAPN2PKUF6
Further company coverage: HCLT.NS
(([email protected];))
March 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
WESTERN UNION FORMS STRATEGIC PARTNERSHIP WITH HCLTECH
PARTNERSHIP TO TRANSITION TO AN AI LED PLATFORM OPERATING MODEL
Source text: ID:nnAPN2PKUF6
Further company coverage: HCLT.NS
(([email protected];))
Indian IT earnings likely to stutter in fiscal 2026 on US spending woes, analysts say
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.
Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.
Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.
"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.
India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.
Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.
Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.
According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.
Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".
Performance of India's IT companies in 2025 so far https://reut.rs/4kNRylg
India's IT index eyes worst quarterly performance in nearly three years https://reut.rs/4kMMrSg
Brokerages' estimates of organic revenue growth in Indian IT companies https://reut.rs/426FsLx
Summary of brokerages' view on India's Nifty IT stocks https://reut.rs/4iBRV0e
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.
Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.
Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.
"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.
India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.
Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.
Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.
According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.
Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".
Performance of India's IT companies in 2025 so far https://reut.rs/4kNRylg
India's IT index eyes worst quarterly performance in nearly three years https://reut.rs/4kMMrSg
Brokerages' estimates of organic revenue growth in Indian IT companies https://reut.rs/426FsLx
Summary of brokerages' view on India's Nifty IT stocks https://reut.rs/4iBRV0e
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
HCLTech Launches Flexspace For AI PCS
March 19 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES FLEXSPACE FOR AI PCS
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
March 19 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES FLEXSPACE FOR AI PCS
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
India's IT sector should overhaul business, create own language models, HCLTech CEO says
By Haripriya Suresh and Akash Sriram
MUMBAI, Feb 24 (Reuters) - Indian IT firms need to rethink how they operate and the country needs to create its own language models as artificial intelligence technologies disrupt the sector, according to HCLTech HCLT.NS CEO C Vijayakumar.
The generative AI boom has threatened to disrupt business models for Indian IT companies that largely serve clients in the United States for operations support, providing software as a service.
"The underlying themes are not the same as cloud and digitization and other things ... This is very different. The changes that AI is assuring are very different, and we need to be more proactive to even categorize our revenues to create completely new businesses," Vijayakumar said at an industry event in Mumbai.
Generative AI, which can write code for software among a plethora of tasks, is expected to speed up the timeline to develop products, improving efficiency of a company's workforce.
For an example, a five-year technology transformational program valued at about $1 billion at a very large financial services firm could be done in three-and-a-half years, Vijayakumar said.
He also said India should build its own language models to cut down dependency on other countries and avoid impact from geopolitical issues.
Large language models are trained on massive amounts of data to generate text and other content.
"We should not assume that these (language) models will continue to be open source. I think these are going to be the coins on which the geopolitics is going to be played off," Vijayakumar said, adding that countries could limit some usage beyond their boundaries.
"To have a long-term competitive advantage, it makes a lot of sense to build and the costs are coming down. We need to find ways to very economically create a training infrastructure to train the models," he said.
IT industry executives also said the sector needs to avoid complacency to adapt and overcome challenges.
"I think we have to be paranoid. We have to be non-complacent. That is the way we can manage to keep up with what's going on in the industry," Infosys INFY.NS CEO Salil Parekh said.
(Reporting by Haripriya, Akash Sriram, writing by Sethuraman NR; Editing by Shilpi Majumdar)
(([email protected]; On X as @HoodieOnVeshti; +91-99017-77617;))
By Haripriya Suresh and Akash Sriram
MUMBAI, Feb 24 (Reuters) - Indian IT firms need to rethink how they operate and the country needs to create its own language models as artificial intelligence technologies disrupt the sector, according to HCLTech HCLT.NS CEO C Vijayakumar.
The generative AI boom has threatened to disrupt business models for Indian IT companies that largely serve clients in the United States for operations support, providing software as a service.
"The underlying themes are not the same as cloud and digitization and other things ... This is very different. The changes that AI is assuring are very different, and we need to be more proactive to even categorize our revenues to create completely new businesses," Vijayakumar said at an industry event in Mumbai.
Generative AI, which can write code for software among a plethora of tasks, is expected to speed up the timeline to develop products, improving efficiency of a company's workforce.
For an example, a five-year technology transformational program valued at about $1 billion at a very large financial services firm could be done in three-and-a-half years, Vijayakumar said.
He also said India should build its own language models to cut down dependency on other countries and avoid impact from geopolitical issues.
Large language models are trained on massive amounts of data to generate text and other content.
"We should not assume that these (language) models will continue to be open source. I think these are going to be the coins on which the geopolitics is going to be played off," Vijayakumar said, adding that countries could limit some usage beyond their boundaries.
"To have a long-term competitive advantage, it makes a lot of sense to build and the costs are coming down. We need to find ways to very economically create a training infrastructure to train the models," he said.
IT industry executives also said the sector needs to avoid complacency to adapt and overcome challenges.
"I think we have to be paranoid. We have to be non-complacent. That is the way we can manage to keep up with what's going on in the industry," Infosys INFY.NS CEO Salil Parekh said.
(Reporting by Haripriya, Akash Sriram, writing by Sethuraman NR; Editing by Shilpi Majumdar)
(([email protected]; On X as @HoodieOnVeshti; +91-99017-77617;))
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What does HCL Tech. do?
HCL Technologies is primarily engaged in providing a range of IT and business services, engineering and R&D services and modernized software products and IP-led offerings. The Company leverages its global technology workforce and intellectual properties to deliver solutions across following verticals - Financial Services, Manufacturing, Life Sciences & Healthcare, Public Services, Retail & CPG, Technology & Services and Telecom, Media, Publishing and Entertainment. In order to offer enterprises the maximum benefit of these technologies to further their business objectives, HCL offers an integrated portfolio of products and services through three business units. These are IT and Business Services (ITBS), Engineering and R&D Services (ERS), and Products and Platforms (P&P).
Who are the competitors of HCL Tech.?
HCL Tech. major competitors are Wipro, LTIMindtree, Infosys, Tech Mahindra, Persistent Systems, Oracle Finl. Service, Coforge. Market Cap of HCL Tech. is ₹3,98,203 Crs. While the median market cap of its peers are ₹1,52,224 Crs.
Is HCL Tech. financially stable compared to its competitors?
HCL Tech. seems to be less financially stable compared to its competitors. Altman Z score of HCL Tech. is 9.89 and is ranked 5 out of its 8 competitors.
Does HCL Tech. pay decent dividends?
The company seems to pay a good stable dividend. HCL Tech. latest dividend payout ratio is 93.67% and 3yr average dividend payout ratio is 90.45%
How has HCL Tech. allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is HCL Tech. balance sheet?
Balance sheet of HCL Tech. is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of HCL Tech. improving?
The profit is oscillating. The profit of HCL Tech. is ₹16,984 Crs for TTM, ₹17,390 Crs for Mar 2025 and ₹15,702 Crs for Mar 2024.
Is the debt of HCL Tech. increasing or decreasing?
The net debt of HCL Tech. is decreasing. Latest net debt of HCL Tech. is -₹40,125 Crs as of Mar-25. This is less than Mar-24 when it was -₹37,650 Crs.
Is HCL Tech. stock expensive?
HCL Tech. is not expensive. Latest PE of HCL Tech. is 23.46, while 3 year average PE is 24.49. Also latest EV/EBITDA of HCL Tech. is 14.73 while 3yr average is 15.06.
Has the share price of HCL Tech. grown faster than its competition?
HCL Tech. has given better returns compared to its competitors. HCL Tech. has grown at ~15.66% over the last 9yrs while peers have grown at a median rate of 14.45%
Is the promoter bullish about HCL Tech.?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in HCL Tech. is 60.81% and last quarter promoter holding is 60.81%.
Are mutual funds buying/selling HCL Tech.?
The mutual fund holding of HCL Tech. is increasing. The current mutual fund holding in HCL Tech. is 8.44% while previous quarter holding is 8.35%.