HCL Technologies
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Clients clamour for steep price cuts and more productivity in AI era
Outcome-based contracts increasingly popular over billable-hour model
Nimble mid-tier firms win business as AI levels playing field
Some firms said to be making irrational decisions to please clients
By Sai Ishwarbharath B, Abhirami G and Haripriya Suresh
BENGALURU, August 21 (Reuters) - Artificial intelligence promised to disrupt India's IT industry and it is delivering.
Outsourcing giants like Tata Consultancy Services TCS.NS, Infosys INFY.NS, Wipro WIPR.NS, HCLTech HCLT.NS and Cognizant CTSH.O are rejigging business models, increasingly tying fees to performance outcomes instead of hours worked, as clients demand steep price cuts and more productivity.
Industry executives also say they are losing some work entirely as customers use AI to shift tasks in-house, while all the uncertainty that the new technology has brought is resulting in shorter contracts.
And where once the big IT companies won contracts because they could point to their huge employee base, that has become less and less of an advantage as AI automates more and more tasks — levelling the playing field for smaller rivals which have jumped at opportunities to snatch business.
"It's a desperate market for the service providers. The odds are very much in favour of clients," said Jimit Arora, CEO of research and advisory firm Everest Group.
Software companies globally have been battered by worries that AI will render key parts of their business obsolete, but India's IT industry — worth $315 billion in annual revenue — is the most obvious victim with its traditional reliance on billable hours.
The Nifty IT index .NIFTYIT has tumbled by a fifth this year, with its 10 constituents losing a combined $73 billion in market value.
CONTRACTS SHIFT TO MEASURABLE OUTCOMES
These days, pricing for contracts is more likely to be dictated by performance outcomes.
TCS Chief Executive K Krithivasan told Reuters that about 80% of the company's contracts within its finance, human resources and other business services segment are now based on outcome performance measures.
That number represents a doubling since AI went mainstream in late 2023, said a person with knowledge of the matter, who was not authorised to speak to media and declined to be identified. TCS did not respond to a request for comment.
Other examples in the industry include an AI and automation deal Cognizant CTSH.O struck with Daimler Truck DTGGe.DE in February. It stipulated AI-related cost savings would be split between the vendor and the client, according to people familiar with the terms.
"With AI, the fundamentals are shifting," Cognizant said in a statement to Reuters, though it declined to comment on specific contracts. "Clients now expect more value and measurable outcomes, and we are re-forging our model for that reality."
Daimler Truck did not respond to a request for comment.
A separate multiyear cloud management deal forged in June 2025 was structured so HCLTech will not be paid by German utility E.ON EONGn.DE for the first year, with payments from the second year tied to efficiency gains and specific business outcomes, according to two people familiar with the agreement.
E.ON declined to comment, while HCLTech did not respond to a request for comment.
CLIENTS WANT MORE BANG FOR THEIR BUCK
As AI drives productivity gains, clients have become increasingly vocal about getting more for less.
Persistent Systems PERS.NS CEO Sandeep Kalra told Reuters that the IT provider's clients were demanding the same work for 25% to 30% less while expecting faster delivery and higher productivity.
But on the plus side, AI is helping Persistent win larger deals than it would have previously.
"The demarcation of a scale player only by revenue is not necessarily a big thing today," he said.
IT executives and analysts alike say competition from mid-sized firms has become brutally fierce.
Many customers now want rapid development of pilot programmes and smaller firms are winning mandates by deploying senior leaders quickly and offering flexible pricing, says Phil Fersht, CEO and chief analyst at HFS Research.
"Many Tier 2 firms have been more agile and hungry in this phase," he said.
Both Persistent and Coforge COFO.NS, another mid-sized IT services provider, have seen revenue in dollar terms grow by double digits for at least eight quarters in a row. In April-June, revenue for Persistent surged 16%, while Coforge's sales jumped by a third.
In contrast, TCS, Infosys, Wipro and HCLTech had subdued growth of 1% to 3%.
IRRATIONAL EXUBERANCE?
As pressure from clients grows, some firms are making rash decisions, says Tech Mahindra TEML.NS CEO Mohit Joshi.
Some rivals are factoring in productivity gains of 70% to 80% over five to seven years and guaranteeing prices despite rising chip costs, Joshi told an analysts' call last month, adding that his company had chosen not to take such risks.
"Clearly, there is a ton of competition out there, and our competition at times is doing irrational things," he said.
Infosys last month also told analysts it had walked away from contracts that were no longer economically viable.
TCS's Krithivasan said that so far the company has been able to offset AI-related downward pressure on revenue with new work.
"But how fast and how much more we are able to go ahead of the (revenue) deflation will determine the growth going forward," he added.
TCS is also boosting its numbers of engineers who embed with clients to accelerate AI adoption and is hunting for AI acquisitions.
It is thus far the only Indian IT services provider to have announced mass layoffs in the AI era, implementing cuts of more than 12,000 last year. But companies have flagged that their traditional role as huge hirers of new recruits may be winding down.
The country's IT giants will no longer need large ranks of entry-level engineers, according to former Infosys CFO V. Balakrishnan.
"The pyramid model is gone. With coding agents, we no longer need basic coding," he said.
(Reporting by Sai Ishwarbharath B, Abhirami G and Haripriya Suresh in Bengaluru; Editing by Dhanya Skariachan and Edwina Gibbs)
Clients clamour for steep price cuts and more productivity in AI era
Outcome-based contracts increasingly popular over billable-hour model
Nimble mid-tier firms win business as AI levels playing field
Some firms said to be making irrational decisions to please clients
By Sai Ishwarbharath B, Abhirami G and Haripriya Suresh
BENGALURU, August 21 (Reuters) - Artificial intelligence promised to disrupt India's IT industry and it is delivering.
Outsourcing giants like Tata Consultancy Services TCS.NS, Infosys INFY.NS, Wipro WIPR.NS, HCLTech HCLT.NS and Cognizant CTSH.O are rejigging business models, increasingly tying fees to performance outcomes instead of hours worked, as clients demand steep price cuts and more productivity.
Industry executives also say they are losing some work entirely as customers use AI to shift tasks in-house, while all the uncertainty that the new technology has brought is resulting in shorter contracts.
And where once the big IT companies won contracts because they could point to their huge employee base, that has become less and less of an advantage as AI automates more and more tasks — levelling the playing field for smaller rivals which have jumped at opportunities to snatch business.
"It's a desperate market for the service providers. The odds are very much in favour of clients," said Jimit Arora, CEO of research and advisory firm Everest Group.
Software companies globally have been battered by worries that AI will render key parts of their business obsolete, but India's IT industry — worth $315 billion in annual revenue — is the most obvious victim with its traditional reliance on billable hours.
The Nifty IT index .NIFTYIT has tumbled by a fifth this year, with its 10 constituents losing a combined $73 billion in market value.
CONTRACTS SHIFT TO MEASURABLE OUTCOMES
These days, pricing for contracts is more likely to be dictated by performance outcomes.
TCS Chief Executive K Krithivasan told Reuters that about 80% of the company's contracts within its finance, human resources and other business services segment are now based on outcome performance measures.
That number represents a doubling since AI went mainstream in late 2023, said a person with knowledge of the matter, who was not authorised to speak to media and declined to be identified. TCS did not respond to a request for comment.
Other examples in the industry include an AI and automation deal Cognizant CTSH.O struck with Daimler Truck DTGGe.DE in February. It stipulated AI-related cost savings would be split between the vendor and the client, according to people familiar with the terms.
"With AI, the fundamentals are shifting," Cognizant said in a statement to Reuters, though it declined to comment on specific contracts. "Clients now expect more value and measurable outcomes, and we are re-forging our model for that reality."
Daimler Truck did not respond to a request for comment.
A separate multiyear cloud management deal forged in June 2025 was structured so HCLTech will not be paid by German utility E.ON EONGn.DE for the first year, with payments from the second year tied to efficiency gains and specific business outcomes, according to two people familiar with the agreement.
E.ON declined to comment, while HCLTech did not respond to a request for comment.
CLIENTS WANT MORE BANG FOR THEIR BUCK
As AI drives productivity gains, clients have become increasingly vocal about getting more for less.
Persistent Systems PERS.NS CEO Sandeep Kalra told Reuters that the IT provider's clients were demanding the same work for 25% to 30% less while expecting faster delivery and higher productivity.
But on the plus side, AI is helping Persistent win larger deals than it would have previously.
"The demarcation of a scale player only by revenue is not necessarily a big thing today," he said.
IT executives and analysts alike say competition from mid-sized firms has become brutally fierce.
Many customers now want rapid development of pilot programmes and smaller firms are winning mandates by deploying senior leaders quickly and offering flexible pricing, says Phil Fersht, CEO and chief analyst at HFS Research.
"Many Tier 2 firms have been more agile and hungry in this phase," he said.
Both Persistent and Coforge COFO.NS, another mid-sized IT services provider, have seen revenue in dollar terms grow by double digits for at least eight quarters in a row. In April-June, revenue for Persistent surged 16%, while Coforge's sales jumped by a third.
In contrast, TCS, Infosys, Wipro and HCLTech had subdued growth of 1% to 3%.
IRRATIONAL EXUBERANCE?
As pressure from clients grows, some firms are making rash decisions, says Tech Mahindra TEML.NS CEO Mohit Joshi.
Some rivals are factoring in productivity gains of 70% to 80% over five to seven years and guaranteeing prices despite rising chip costs, Joshi told an analysts' call last month, adding that his company had chosen not to take such risks.
"Clearly, there is a ton of competition out there, and our competition at times is doing irrational things," he said.
Infosys last month also told analysts it had walked away from contracts that were no longer economically viable.
TCS's Krithivasan said that so far the company has been able to offset AI-related downward pressure on revenue with new work.
"But how fast and how much more we are able to go ahead of the (revenue) deflation will determine the growth going forward," he added.
TCS is also boosting its numbers of engineers who embed with clients to accelerate AI adoption and is hunting for AI acquisitions.
It is thus far the only Indian IT services provider to have announced mass layoffs in the AI era, implementing cuts of more than 12,000 last year. But companies have flagged that their traditional role as huge hirers of new recruits may be winding down.
The country's IT giants will no longer need large ranks of entry-level engineers, according to former Infosys CFO V. Balakrishnan.
"The pyramid model is gone. With coding agents, we no longer need basic coding," he said.
(Reporting by Sai Ishwarbharath B, Abhirami G and Haripriya Suresh in Bengaluru; Editing by Dhanya Skariachan and Edwina Gibbs)
Aug 13 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND NETAPP EXPAND PARTNERSHIP
HCLTECH - EXPANDED PARTNERSHIP FOR HYBRID CLOUD STORAGE-AS-A-SERVICE FOR ENTERPRISE AI ADOPTION
Further company coverage: HCLT.NS
(([email protected];))
Aug 13 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND NETAPP EXPAND PARTNERSHIP
HCLTECH - EXPANDED PARTNERSHIP FOR HYBRID CLOUD STORAGE-AS-A-SERVICE FOR ENTERPRISE AI ADOPTION
Further company coverage: HCLT.NS
(([email protected];))
HCLTech was named an OpenAI Advanced Partner within the OpenAI Partner Network, joining the global systems integrators selected to build, sell and deliver enterprise AI solutions with OpenAI. The partnership covered the deployment of OpenAI models, including GPT-5.6 and ChatGPT Work, while HCLTech's AI Force platform was integrated with OpenAI models. IT and business services accounted for about 74% of HCLTech's revenue, with a growing share attributed to AI-led digital transformation, and the company launched AI Force in FY24. HCLTech had more than 223,000 employees across 60 countries and reported consolidated revenue of $14.8bn for the 12 months ended June 2026.
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HCLTech was named an OpenAI Advanced Partner within the OpenAI Partner Network, joining the global systems integrators selected to build, sell and deliver enterprise AI solutions with OpenAI. The partnership covered the deployment of OpenAI models, including GPT-5.6 and ChatGPT Work, while HCLTech's AI Force platform was integrated with OpenAI models. IT and business services accounted for about 74% of HCLTech's revenue, with a growing share attributed to AI-led digital transformation, and the company launched AI Force in FY24. HCLTech had more than 223,000 employees across 60 countries and reported consolidated revenue of $14.8bn for the 12 months ended June 2026.
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Aug 3 (Reuters) - HCL Technologies Ltd HCLT.NS:
COMPLETES ACQUISITION OF HPE’S TELCO SOLUTIONS BUSINESS
Further company coverage: HCLT.NS
(([email protected];;))
Aug 3 (Reuters) - HCL Technologies Ltd HCLT.NS:
COMPLETES ACQUISITION OF HPE’S TELCO SOLUTIONS BUSINESS
Further company coverage: HCLT.NS
(([email protected];;))
July 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - ANNOUNCES AI DATA CENTER IN BHUBANESWAR IN PARTNERSHIP WITH SARVAM AND GOVERNMENT OF ODISHA
HCLTECH- PLANNED CAPITAL OUTLAY FOR THE PROJECT WILL BE 142.57 BILLION RUPEES
Source text: ID:nnAZN4T9PKA
Further company coverage: HCLT.NS
(([email protected];))
July 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - ANNOUNCES AI DATA CENTER IN BHUBANESWAR IN PARTNERSHIP WITH SARVAM AND GOVERNMENT OF ODISHA
HCLTECH- PLANNED CAPITAL OUTLAY FOR THE PROJECT WILL BE 142.57 BILLION RUPEES
Source text: ID:nnAZN4T9PKA
Further company coverage: HCLT.NS
(([email protected];))
Forecast cut reflects more demand pressure, analyst says
AI revenue up 8.2% versus 5.5% in December quarter
U.S.-listed shares down 5% in early trading
Adds details of CEO transition, more analyst comments, background, shares and graphic
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 23 (Reuters) - Infosys INFY.NS named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India's No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.
The succession plan was announced alongside a cut to the company's annual revenue growth forecast, sending its U.S.-listed shares down 5% in early trading.
Dash, who heads the company's energy and utilities business, will take over in April 2027 for a five-year term after Salil Parekh steps down at the end of his tenure in March, the company said.
The appointment comes as India's $315 billion IT sector wrestles with the impact of AI on technology spending and traditional outsourcing models.
"Ashiss Kumar Dash is a safe, execution-focused appointment at a time when Infosys needs stability as much as transformation," said Phil Fersht, CEO of tech research firm HFS Research.
"He understands the firm's culture, clients, and delivery engine, which should reassure customers and investors after a period of uncertainty."
Nandan Nilekani, the co-founder and non-executive chairman of Infosys, said Dash's long career at the firm had given him experience across key functions, including delivery, sales and account management, making him well-suited for the top role.
Dash will return from Los Angeles to India in the coming months and begin a structured handover process, with Parekh expected to mentor him from October as part of the transition.
NARROWS REVENUE GROWTH FORECAST
The Bengaluru-based firm narrowed its fiscal 2027 revenue growth forecast to 1.5%-3.0% from 1.5%-3.5%, citing cautious client spending amid AI-driven disruption. Analysts had expected growth of 2.5%-4.5%.
Parekh said the forecast's upper end reflected expectations of a stronger macroeconomic environment, which have yet to materialise.
StoxBox analyst Sagar Shetty said the forecast downgrade likely reflects a more pressuring environment going forward.
Revenue in the quarter rose 14% to 482.11 billion rupees ($4.99 billion), missing analysts' average estimate of 483.67 billion rupees, according to data compiled by LSEG. Net profit rose 12.2% to 77.69 billion rupees, while analysts expected 78.32 billion rupees.
Rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS beat quarterly estimates earlier, aided by strong financial services demand and a weaker currency.
AI services accounted for 8.2% of Infosys' revenue, compared with 5.5% in the December quarter.
Large deal bookings were $3.6 billion in the quarter, up from $3.2 billion in the previous quarter but down from $3.8 billion a year earlier.
($1 = 96.5725 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Additional reporting by Mridula Kumar, Surbhi Misra and Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Devika Syamnath)
(([email protected];))
Forecast cut reflects more demand pressure, analyst says
AI revenue up 8.2% versus 5.5% in December quarter
U.S.-listed shares down 5% in early trading
Adds details of CEO transition, more analyst comments, background, shares and graphic
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 23 (Reuters) - Infosys INFY.NS named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India's No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.
The succession plan was announced alongside a cut to the company's annual revenue growth forecast, sending its U.S.-listed shares down 5% in early trading.
Dash, who heads the company's energy and utilities business, will take over in April 2027 for a five-year term after Salil Parekh steps down at the end of his tenure in March, the company said.
The appointment comes as India's $315 billion IT sector wrestles with the impact of AI on technology spending and traditional outsourcing models.
"Ashiss Kumar Dash is a safe, execution-focused appointment at a time when Infosys needs stability as much as transformation," said Phil Fersht, CEO of tech research firm HFS Research.
"He understands the firm's culture, clients, and delivery engine, which should reassure customers and investors after a period of uncertainty."
Nandan Nilekani, the co-founder and non-executive chairman of Infosys, said Dash's long career at the firm had given him experience across key functions, including delivery, sales and account management, making him well-suited for the top role.
Dash will return from Los Angeles to India in the coming months and begin a structured handover process, with Parekh expected to mentor him from October as part of the transition.
NARROWS REVENUE GROWTH FORECAST
The Bengaluru-based firm narrowed its fiscal 2027 revenue growth forecast to 1.5%-3.0% from 1.5%-3.5%, citing cautious client spending amid AI-driven disruption. Analysts had expected growth of 2.5%-4.5%.
Parekh said the forecast's upper end reflected expectations of a stronger macroeconomic environment, which have yet to materialise.
StoxBox analyst Sagar Shetty said the forecast downgrade likely reflects a more pressuring environment going forward.
Revenue in the quarter rose 14% to 482.11 billion rupees ($4.99 billion), missing analysts' average estimate of 483.67 billion rupees, according to data compiled by LSEG. Net profit rose 12.2% to 77.69 billion rupees, while analysts expected 78.32 billion rupees.
Rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS beat quarterly estimates earlier, aided by strong financial services demand and a weaker currency.
AI services accounted for 8.2% of Infosys' revenue, compared with 5.5% in the December quarter.
Large deal bookings were $3.6 billion in the quarter, up from $3.2 billion in the previous quarter but down from $3.8 billion a year earlier.
($1 = 96.5725 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Additional reporting by Mridula Kumar, Surbhi Misra and Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Devika Syamnath)
(([email protected];))
July 21 (Reuters) -
HCLTECH TO ESTABLISH CENTRE IN INDIA'S ODISHA STATE WITH 7.30 BILLION RUPEES INVESTMENT - GOVERNMENT STATEMENT
Further company coverage: HCLT.NS
(([email protected];))
July 21 (Reuters) -
HCLTECH TO ESTABLISH CENTRE IN INDIA'S ODISHA STATE WITH 7.30 BILLION RUPEES INVESTMENT - GOVERNMENT STATEMENT
Further company coverage: HCLT.NS
(([email protected];))
BENGALURU, July 16 (Reuters) - Indian software services provider Tech Mahindra TEML.NS reported larger-than-expected first-quarter revenue on Thursday, aided by its communications and manufacturing segments and a weak rupee.
Revenue at India's fifth-largest IT firm rose 17.7% year-on-year to 157.12 billion rupees ($1.63 billion) in the three months ended June 30. Analysts, on average, expected revenue of 154.76 billion rupees, according to data compiled by LSEG.
($1 = 96.3450 Indian rupees)
(Reporting by Sai Ishwarbharath B and Surbhi Misra; Editing by Harikrishnan Nair)
(([email protected]; || [email protected]))
BENGALURU, July 16 (Reuters) - Indian software services provider Tech Mahindra TEML.NS reported larger-than-expected first-quarter revenue on Thursday, aided by its communications and manufacturing segments and a weak rupee.
Revenue at India's fifth-largest IT firm rose 17.7% year-on-year to 157.12 billion rupees ($1.63 billion) in the three months ended June 30. Analysts, on average, expected revenue of 154.76 billion rupees, according to data compiled by LSEG.
($1 = 96.3450 Indian rupees)
(Reporting by Sai Ishwarbharath B and Surbhi Misra; Editing by Harikrishnan Nair)
(([email protected]; || [email protected]))
** Shares of Indian IT services firm HCLTech HCLT.NS fall as much as 3.2% to 1201.1 rupees; last down 1.3%
** Stock top drag on IT index .NIFTYIT which is up 0.1%
** Co on Monday maintained FY27 annual revenue guidance and beat Q1 results estimates
** Decision to maintain guidance implies a few challenges in existing business, says Nuvama ("hold", PT 1300 rupees)
** JP Morgan ("underweight") says the unchanged outlook reflected continued weakness in discretionary technology spending, pressure in telecom and manufacturing accounts, and the delayed contribution from a recently announced $1.14 billion mega deal
** YTD, stock down 26.3% vs IT index's 23.3% drop
(Reporting by Abhirami G in Bengaluru)
** Shares of Indian IT services firm HCLTech HCLT.NS fall as much as 3.2% to 1201.1 rupees; last down 1.3%
** Stock top drag on IT index .NIFTYIT which is up 0.1%
** Co on Monday maintained FY27 annual revenue guidance and beat Q1 results estimates
** Decision to maintain guidance implies a few challenges in existing business, says Nuvama ("hold", PT 1300 rupees)
** JP Morgan ("underweight") says the unchanged outlook reflected continued weakness in discretionary technology spending, pressure in telecom and manufacturing accounts, and the delayed contribution from a recently announced $1.14 billion mega deal
** YTD, stock down 26.3% vs IT index's 23.3% drop
(Reporting by Abhirami G in Bengaluru)
HCLTech announced on July 13 that its board has approved an investment of up to ₹3,500 crore to establish AI data centers in India, marking the company's entry into the full-stack AI market. The investment will be routed through new wholly-owned subsidiaries and is intended to scale up to 50MW of capacity. The company said the move complements its existing AI data center design, DevOps, and cloud operations capabilities, creating an integrated end-to-end play. CEO C Vijayakumar stated that the convergence of AI demand, supply constraints, and digital sovereignty presents a compelling opportunity for HCLTech to emerge as a full-stack AI technology solutions provider. The first subsidiary for this purpose is yet to be incorporated, with an initial subscription of ₹15 lakh. HCLTech's consolidated revenues for the twelve months ending June 2026 stood at $14.8 billion.
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HCLTech announced on July 13 that its board has approved an investment of up to ₹3,500 crore to establish AI data centers in India, marking the company's entry into the full-stack AI market. The investment will be routed through new wholly-owned subsidiaries and is intended to scale up to 50MW of capacity. The company said the move complements its existing AI data center design, DevOps, and cloud operations capabilities, creating an integrated end-to-end play. CEO C Vijayakumar stated that the convergence of AI demand, supply constraints, and digital sovereignty presents a compelling opportunity for HCLTech to emerge as a full-stack AI technology solutions provider. The first subsidiary for this purpose is yet to be incorporated, with an initial subscription of ₹15 lakh. HCLTech's consolidated revenues for the twelve months ending June 2026 stood at $14.8 billion.
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July 13 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - BOARD APPROVES INVESTMENT UP TO 35 BILLION RUPEES FOR DATA CENTERS IN INDIA
HCLTECH - HCLTECH LAUNCHES FULL-STACK AI OFFERING POWERED BY AI DATA CENTER INVESTMENT
HCLTECH - INVESTMENT TO BE MADE THROUGH NEW SUBSIDIARIES
HCLTECH - NEW COMPANY TO BE WHOLLY OWNED SUBSIDIARY OF HCL TECHNOLOGIES
Source text: ID:nBSE7KnVMG
Further company coverage: HCLT.NS
(([email protected];;))
July 13 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - BOARD APPROVES INVESTMENT UP TO 35 BILLION RUPEES FOR DATA CENTERS IN INDIA
HCLTECH - HCLTECH LAUNCHES FULL-STACK AI OFFERING POWERED BY AI DATA CENTER INVESTMENT
HCLTECH - INVESTMENT TO BE MADE THROUGH NEW SUBSIDIARIES
HCLTECH - NEW COMPANY TO BE WHOLLY OWNED SUBSIDIARY OF HCL TECHNOLOGIES
Source text: ID:nBSE7KnVMG
Further company coverage: HCLT.NS
(([email protected];;))
TCS shares rise after revenue beat from strong banking demand, rising AI revenue
Annualized AI revenue crosses $2.6 billion, driven by faster deployments across industries
Results offer investors early signs that sector growth may be stabilizing, analysts say
Updates with closing levels
By Mridula Kumar
July 10 (Reuters) - India's Tata Consultancy Services TCS.NS rose as much as 4.1% on Friday after better-than-expected quarterly revenue on strong banking demand and rising AI revenue, though analysts said the broader sector recovery was likely to remain gradual.
Shares of the country's top software services exporter trimmed some gains to close about 1% higher at 2,069 rupees, helping lift the benchmark Nifty 50 .NSEI 1.02% higher.
The IT index .NIFTYIT gained about 1.96% during the session.
Analysts said investors were looking at positive growth expectations for TCS in the coming quarters, led by AI revenue, with multiple brokerages also citing strong growth in banking, financial services and insurance, high-tech and regional markets.
"The company expects AI adoption growth and transformation to pick up, and they expect better numbers," said Piyush Pandey, lead IT Analyst at Centrum Broking.
Annualized AI revenue crossed $2.6 billion, driven by faster deployments across industries, rising from $2.3 billion in the previous quarter, TCS said.
Quarterly sales rose 14% to 722.75 billion rupees ($7.58 billion), while CEO K Krithivasan signalled a second-quarter recovery in manufacturing and life sciences demand.
SUBDUED QUARTER, GRADUAL RECOVERY
While the results offered investors early signs that growth may be stabilizing in India's $315 billion IT sector, analysts said a broader recovery was likely to remain gradual as demand concerns remained after expectations of another subdued quarter.
Flattish international revenue and a 3% year-on-year fall in headcount suggested continued sluggishness, according to Citi, while Nomura analysts said macro uncertainty still weighed on the near-term outlook.
Brokerages had flagged a low growth rate for the company in fiscal 2027 due to AI-led deflation.
The earliest the net AI impact will turn accretive for the sector and company is mid- to end-fiscal 2028, HSBC said post the results, adding that TCS' quarterly earnings offered limited grounds for pessimistic investors to reassess their stance.
Rivals Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS are expected to report their quarterly earnings later in the month.
($1 = 95.3150 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru; Writing by Abinaya V; Editing by Mrigank Dhaniwala and Janane Venkatraman)
TCS shares rise after revenue beat from strong banking demand, rising AI revenue
Annualized AI revenue crosses $2.6 billion, driven by faster deployments across industries
Results offer investors early signs that sector growth may be stabilizing, analysts say
Updates with closing levels
By Mridula Kumar
July 10 (Reuters) - India's Tata Consultancy Services TCS.NS rose as much as 4.1% on Friday after better-than-expected quarterly revenue on strong banking demand and rising AI revenue, though analysts said the broader sector recovery was likely to remain gradual.
Shares of the country's top software services exporter trimmed some gains to close about 1% higher at 2,069 rupees, helping lift the benchmark Nifty 50 .NSEI 1.02% higher.
The IT index .NIFTYIT gained about 1.96% during the session.
Analysts said investors were looking at positive growth expectations for TCS in the coming quarters, led by AI revenue, with multiple brokerages also citing strong growth in banking, financial services and insurance, high-tech and regional markets.
"The company expects AI adoption growth and transformation to pick up, and they expect better numbers," said Piyush Pandey, lead IT Analyst at Centrum Broking.
Annualized AI revenue crossed $2.6 billion, driven by faster deployments across industries, rising from $2.3 billion in the previous quarter, TCS said.
Quarterly sales rose 14% to 722.75 billion rupees ($7.58 billion), while CEO K Krithivasan signalled a second-quarter recovery in manufacturing and life sciences demand.
SUBDUED QUARTER, GRADUAL RECOVERY
While the results offered investors early signs that growth may be stabilizing in India's $315 billion IT sector, analysts said a broader recovery was likely to remain gradual as demand concerns remained after expectations of another subdued quarter.
Flattish international revenue and a 3% year-on-year fall in headcount suggested continued sluggishness, according to Citi, while Nomura analysts said macro uncertainty still weighed on the near-term outlook.
Brokerages had flagged a low growth rate for the company in fiscal 2027 due to AI-led deflation.
The earliest the net AI impact will turn accretive for the sector and company is mid- to end-fiscal 2028, HSBC said post the results, adding that TCS' quarterly earnings offered limited grounds for pessimistic investors to reassess their stance.
Rivals Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS are expected to report their quarterly earnings later in the month.
($1 = 95.3150 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru; Writing by Abinaya V; Editing by Mrigank Dhaniwala and Janane Venkatraman)
July 7 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLSOFTWARE COMPLETES ACQUISITION OF JASPERSOFT AND INTEGRATES WITH ACTIAN PORTFOLIO
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
July 7 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLSOFTWARE COMPLETES ACQUISITION OF JASPERSOFT AND INTEGRATES WITH ACTIAN PORTFOLIO
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
Nifty IT index down 28.4% in 2026, trailing a 6.6% drop in Nifty 50
Rupee weakness to mask underlying softness in revenue and profit growth
TCS kicks off earnings on July 9
Brokerages say Infosys and HCLTech could trim upper end of annual revenue forecasts
AI adoption pressures pricing, speeds software development cycles
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
The April-to-June quarter is usually a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a slow start to the fiscal year that would push back hopes of a recovery.
India's largest IT services company, Tata Consultancy Services TCS.NS, kicks off earnings on Thursday with peers Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS reporting later this month.
While India's top six IT firms are expected to report around 14% year-on-year revenue growth in rupee terms with net profit rising 12%-13%, this would largely be due to the impact of sharp rupee depreciation. Stripping out exchange rate effects, the companies are expected to post a mere 2.8% revenue growth in constant-currency terms.
Citi expects a fourth straight year of subdued growth for Indian IT firms, while JPMorgan sees revenue growth staying below 3%-4% for the "foreseeable future".
The IT sector is racing to adapt to changing customer needs as companies across the globe step up the use of AI tools and agents to cut costs and quicken software development cycles.
Software firms have slowed hiring, with TCS Chairman N Chandrasekaran saying the "day is not far" when the company would have an equal number of AI agents and employees.
Indian IT firms are in a "perfect storm," Nomura said in its earnings preview, with Middle East conflict-led uncertainty compounding AI-driven pricing pressure.
Fears that AI would disrupt the IT sector's traditional, labour-intensive business model dragged the Nifty IT index .NIFTYIT down 9.5% in the June quarter even as India's benchmark Nifty 50 .NSEI gained 6.9%.
The IT index has slumped about 28% so far in 2026, making it the worst-performing major sector in India.
The impact of AI-led disruption and weakness in client spending will be broad-based, according to PL Capital, with effects visible in the consumer, hi-tech, and telecom verticals.
"Slower decision-making and elongated sales cycle are leading to delays in revenue conversion and execution," the brokerage said in a note.
Annual revenue forecasts will be a key focus for investors. Brokerages say Infosys and HCLTech could narrow or trim the upper end of their forecasts.
Potentially higher interest rates in the U.S., which makes up about 60% of Indian IT firms' revenue, also loom.
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
Nifty IT index down 28.4% in 2026, trailing a 6.6% drop in Nifty 50
Rupee weakness to mask underlying softness in revenue and profit growth
TCS kicks off earnings on July 9
Brokerages say Infosys and HCLTech could trim upper end of annual revenue forecasts
AI adoption pressures pricing, speeds software development cycles
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
The April-to-June quarter is usually a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a slow start to the fiscal year that would push back hopes of a recovery.
India's largest IT services company, Tata Consultancy Services TCS.NS, kicks off earnings on Thursday with peers Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS reporting later this month.
While India's top six IT firms are expected to report around 14% year-on-year revenue growth in rupee terms with net profit rising 12%-13%, this would largely be due to the impact of sharp rupee depreciation. Stripping out exchange rate effects, the companies are expected to post a mere 2.8% revenue growth in constant-currency terms.
Citi expects a fourth straight year of subdued growth for Indian IT firms, while JPMorgan sees revenue growth staying below 3%-4% for the "foreseeable future".
The IT sector is racing to adapt to changing customer needs as companies across the globe step up the use of AI tools and agents to cut costs and quicken software development cycles.
Software firms have slowed hiring, with TCS Chairman N Chandrasekaran saying the "day is not far" when the company would have an equal number of AI agents and employees.
Indian IT firms are in a "perfect storm," Nomura said in its earnings preview, with Middle East conflict-led uncertainty compounding AI-driven pricing pressure.
Fears that AI would disrupt the IT sector's traditional, labour-intensive business model dragged the Nifty IT index .NIFTYIT down 9.5% in the June quarter even as India's benchmark Nifty 50 .NSEI gained 6.9%.
The IT index has slumped about 28% so far in 2026, making it the worst-performing major sector in India.
The impact of AI-led disruption and weakness in client spending will be broad-based, according to PL Capital, with effects visible in the consumer, hi-tech, and telecom verticals.
"Slower decision-making and elongated sales cycle are leading to delays in revenue conversion and execution," the brokerage said in a note.
Annual revenue forecasts will be a key focus for investors. Brokerages say Infosys and HCLTech could narrow or trim the upper end of their forecasts.
Potentially higher interest rates in the U.S., which makes up about 60% of Indian IT firms' revenue, also loom.
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
** Shares of India's HCLTech HCLT.NS rise 5.2% to 1,135 rupees
** IT services co on Friday announced the signing of strategic partnership with a European Fortune 50 firm
** Deal valued at $1.14 billion, to establish AI-driven operating model for workplace transformation
** HCLT on avg rated "hold" by 40 analysts; median PT is 1362.5 rupees - LSEG data
** Stock down 31% YTD
(Reporting by Abhirami G in Bengaluru)
** Shares of India's HCLTech HCLT.NS rise 5.2% to 1,135 rupees
** IT services co on Friday announced the signing of strategic partnership with a European Fortune 50 firm
** Deal valued at $1.14 billion, to establish AI-driven operating model for workplace transformation
** HCLT on avg rated "hold" by 40 analysts; median PT is 1362.5 rupees - LSEG data
** Stock down 31% YTD
(Reporting by Abhirami G in Bengaluru)
June 25 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND SERVICENOW JOIN FORCES TO SCALE ENTERPRISE AI WITH GOOGLE CLOUD
Source text: ID:nBSE37ymtf
Further company coverage: HCLT.NS
(([email protected];))
June 25 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND SERVICENOW JOIN FORCES TO SCALE ENTERPRISE AI WITH GOOGLE CLOUD
Source text: ID:nBSE37ymtf
Further company coverage: HCLT.NS
(([email protected];))
June 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH SELECTED AS STRATEGIC PARTNER BY NESTE
HCLTECH - HCLTECH PARTNERS WITH NESTE FOR LONG-TERM AI-LED EFFICIENCY TRANSFORMATION
Source text: ID:nBSE749BXM
Further company coverage: HCLT.NS
(([email protected];))
June 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH SELECTED AS STRATEGIC PARTNER BY NESTE
HCLTECH - HCLTECH PARTNERS WITH NESTE FOR LONG-TERM AI-LED EFFICIENCY TRANSFORMATION
Source text: ID:nBSE749BXM
Further company coverage: HCLT.NS
(([email protected];))
BENGALURU, June 19 (Reuters) - India's Nifty IT index .NIFTYIT slumped 5.8% on Friday after industry bellwether Accenture ACN.N forecast quarterly sales below Wall Street view and lowered the upper end of its annual revenue outlook due to weakness in its Middle East business.
Shares of Indian IT companies, including Tata Consultancy Services TCS.NS, Infosys INFY.NS, and HCL Technologies HCLT.NS fell between 5% and 7%.
(Reporting by Haripriya Suresh in Bengaluru; Editing by Sherry Jacob-Phillips)
BENGALURU, June 19 (Reuters) - India's Nifty IT index .NIFTYIT slumped 5.8% on Friday after industry bellwether Accenture ACN.N forecast quarterly sales below Wall Street view and lowered the upper end of its annual revenue outlook due to weakness in its Middle East business.
Shares of Indian IT companies, including Tata Consultancy Services TCS.NS, Infosys INFY.NS, and HCL Technologies HCLT.NS fell between 5% and 7%.
(Reporting by Haripriya Suresh in Bengaluru; Editing by Sherry Jacob-Phillips)
June 18 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE IN CHENNAI WITH INTEL-POWERED ENTERPRISE SOLUTIONS
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
June 18 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE IN CHENNAI WITH INTEL-POWERED ENTERPRISE SOLUTIONS
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Ujjaini Dutta
BENGALURU, June 17 (Reuters Breakingviews) - HCLTech’s HCLT.NS decision to lead a fundraising round for India’s sovereign AI posterchild is both timely and shrewd. The $32 billion IT services firm's 10% stake in Sarvam, valuing the startup at $1.5 billion, is small enough to limit any risk yet showy enough to deflect mounting criticism that the world's back office is underinvesting as AI eats away at its revenue.
To be sure, Sarvam, founded by Vivek Raghavan and Pratyush Kumar, is not a neat fit for its newest big backer. The barely three-year-old startup's large language model is optimised for Indic languages but HCL's client base is largely outside the country, mostly in the United States and Europe: India accounted for just 3% of HCLTech's annual sales in the year to the end of March 2026.
And while the IT industry's decades-long success is often attributed to New Delhi staying out of the way, Sarvam is at the heart of the government's IndiaAI Mission. Through that initiative, the startup has secured financial and compute support, including subsidised access to Nvidia's NVDA.O graphics processing chips.
Of course, taking a stake in India's sovereign AI champion could unlock more domestic deals for the C Vijayakumar-led company with Indian enterprises. And it might also get early access to Sarvam's latest tech, as Microsoft MSFT.O did through its investment in OpenAI, though the company run by Satya Nadella also bagged a huge customer for its Azure cloud business.
The political returns for HCL at least appear more certain. Washington's order for Anthropic to suspend access for non-U.S. residents to its Fable 5 and Mythos 5 models will only deepen the desire of governments around the world to find their own sovereign AI solutions across compute infrastructure, AI models and user-facing AI software. That will require oodles of capital.
HCL's rivals such as Wipro WIPR.NS and Infosys INFY.NS are attempting to counter AI deflation on their revenues in other ways. Tata Consultancy Services TCS.NS, for example, is investing in a data centre. Backing Sarvam is, for now, less expensive and probably more politically savvy. They may be tempted to pile in too.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
HCLTech will acquire a 10.5% stake in Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, the Indian IT services company said in a stock exchange filing on June 15. HCL co-led the fundraising round with Bessemer Venture Partners. It also included existing investors Khosla Ventures and Peak XV Partners.
The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech said.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million. The AI startup is backed by India's government AI Mission.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Ujjaini Dutta
BENGALURU, June 17 (Reuters Breakingviews) - HCLTech’s HCLT.NS decision to lead a fundraising round for India’s sovereign AI posterchild is both timely and shrewd. The $32 billion IT services firm's 10% stake in Sarvam, valuing the startup at $1.5 billion, is small enough to limit any risk yet showy enough to deflect mounting criticism that the world's back office is underinvesting as AI eats away at its revenue.
To be sure, Sarvam, founded by Vivek Raghavan and Pratyush Kumar, is not a neat fit for its newest big backer. The barely three-year-old startup's large language model is optimised for Indic languages but HCL's client base is largely outside the country, mostly in the United States and Europe: India accounted for just 3% of HCLTech's annual sales in the year to the end of March 2026.
And while the IT industry's decades-long success is often attributed to New Delhi staying out of the way, Sarvam is at the heart of the government's IndiaAI Mission. Through that initiative, the startup has secured financial and compute support, including subsidised access to Nvidia's NVDA.O graphics processing chips.
Of course, taking a stake in India's sovereign AI champion could unlock more domestic deals for the C Vijayakumar-led company with Indian enterprises. And it might also get early access to Sarvam's latest tech, as Microsoft MSFT.O did through its investment in OpenAI, though the company run by Satya Nadella also bagged a huge customer for its Azure cloud business.
The political returns for HCL at least appear more certain. Washington's order for Anthropic to suspend access for non-U.S. residents to its Fable 5 and Mythos 5 models will only deepen the desire of governments around the world to find their own sovereign AI solutions across compute infrastructure, AI models and user-facing AI software. That will require oodles of capital.
HCL's rivals such as Wipro WIPR.NS and Infosys INFY.NS are attempting to counter AI deflation on their revenues in other ways. Tata Consultancy Services TCS.NS, for example, is investing in a data centre. Backing Sarvam is, for now, less expensive and probably more politically savvy. They may be tempted to pile in too.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
HCLTech will acquire a 10.5% stake in Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, the Indian IT services company said in a stock exchange filing on June 15. HCL co-led the fundraising round with Bessemer Venture Partners. It also included existing investors Khosla Ventures and Peak XV Partners.
The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech said.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million. The AI startup is backed by India's government AI Mission.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
June 15 (Reuters) - India's HCLTech HCLT.NS said on Monday it will acquire a 10.5% stake in domestic generative AI startup Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, leading the firm's Series B round as a strategic investor.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million, the startup said.
HCLTech said it will acquire 41,421 equity shares in the startup and fund its research and development aimed at training next-generation models for agentic AI, coding and cybersecurity use cases.
The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base, and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech added.
The round was co-led by Bessemer Venture Partners, with continued participation from existing investors Khosla Ventures and Peak XV Partners, Sarvam said.
In 2024, Microsoft MSFT.O partnered with the Indian startup to support voice-based generative AI applications, without disclosing financial details.
($1 = 94.7100 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru; Editing by Vijay Kishore)
(([email protected]; +91 9558725583;))
June 15 (Reuters) - India's HCLTech HCLT.NS said on Monday it will acquire a 10.5% stake in domestic generative AI startup Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, leading the firm's Series B round as a strategic investor.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million, the startup said.
HCLTech said it will acquire 41,421 equity shares in the startup and fund its research and development aimed at training next-generation models for agentic AI, coding and cybersecurity use cases.
The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base, and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech added.
The round was co-led by Bessemer Venture Partners, with continued participation from existing investors Khosla Ventures and Peak XV Partners, Sarvam said.
In 2024, Microsoft MSFT.O partnered with the Indian startup to support voice-based generative AI applications, without disclosing financial details.
($1 = 94.7100 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru; Editing by Vijay Kishore)
(([email protected]; +91 9558725583;))
June 9 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES CYBERSECURITY FUSION CENTER IN MISSISSAUGA, ONTARIO
Source text: ID:nBSE4LvvH6
Further company coverage: HCLT.NS
(([email protected];))
June 9 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES CYBERSECURITY FUSION CENTER IN MISSISSAUGA, ONTARIO
Source text: ID:nBSE4LvvH6
Further company coverage: HCLT.NS
(([email protected];))
June 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE WITH GOOGLE CLOUD
Source text: ID:nBSE6tK6LD
Further company coverage: HCLT.NS
(([email protected];))
June 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE WITH GOOGLE CLOUD
Source text: ID:nBSE6tK6LD
Further company coverage: HCLT.NS
(([email protected];))
- Actian launched the Data Steward Agent, aiming to strengthen enterprise AI deployments by enforcing a shared business context across data assets.
- The product targets a key scaling constraint for AI programs: inconsistent metadata and definitions that can undermine trust, compliance, and reuse.
- It is positioned to reduce governance bottlenecks, shifting effort from manual upkeep toward validation while speeding rollout of AI-ready data.
- The agent is available now within the Actian Data Intelligence Platform, extending the platform’s competitive push into AI governance and semantic consistency.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Actian Corporation published the original content used to generate this news brief on June 03, 2026, and is solely responsible for the information contained therein.
- Actian launched the Data Steward Agent, aiming to strengthen enterprise AI deployments by enforcing a shared business context across data assets.
- The product targets a key scaling constraint for AI programs: inconsistent metadata and definitions that can undermine trust, compliance, and reuse.
- It is positioned to reduce governance bottlenecks, shifting effort from manual upkeep toward validation while speeding rollout of AI-ready data.
- The agent is available now within the Actian Data Intelligence Platform, extending the platform’s competitive push into AI governance and semantic consistency.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Actian Corporation published the original content used to generate this news brief on June 03, 2026, and is solely responsible for the information contained therein.
May 25 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - ANNOUNCES EXPANDED COLLABORATION WITH PEGASYSTEMS TO ACCELERATE ENTERPRISE MODERNIZATION
HCLTECH - COLLABORATION ENABLES TRANSFORMATION OF LEGACY SYSTEMS INTO AI-POWERED APPLICATIONS
Source text: ID:nBSE6rD8Jv
Further company coverage: HCLT.NS
(([email protected];))
May 25 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - ANNOUNCES EXPANDED COLLABORATION WITH PEGASYSTEMS TO ACCELERATE ENTERPRISE MODERNIZATION
HCLTECH - COLLABORATION ENABLES TRANSFORMATION OF LEGACY SYSTEMS INTO AI-POWERED APPLICATIONS
Source text: ID:nBSE6rD8Jv
Further company coverage: HCLT.NS
(([email protected];))
May 14 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH COLLABORATES WITH RED HAT
COLLABORATES WITH RED HAT TO DELIVER ENTERPRISE-GRADE AI INFRASTRUCTURE SOLUTIONS
Further company coverage: HCLT.NS
(([email protected];;))
May 14 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH COLLABORATES WITH RED HAT
COLLABORATES WITH RED HAT TO DELIVER ENTERPRISE-GRADE AI INFRASTRUCTURE SOLUTIONS
Further company coverage: HCLT.NS
(([email protected];;))
India's $315 billion IT sector under pressure
Worries about AI disruption return to the fore
AI momentum must slow for investor interest to return: HSBC
Adds details on sector paragraph 2 onwards
May 12 (Reuters) - India's IT shares fell to a three-year low on Tuesday as investor jitters around the threat posed by artificial intelligence to flagship IT firms flared up again, after OpenAI announced a new AI venture.
The Nifty IT index .NIFTYIT fell 3.6% to its lowest since May 2023, with Tata Consultancy Services TCS.NS, Infosys INFY.NS, HCL Technologies HCLT.NS and Wipro WIPR.NS falling between 2.5% and 4%.
Analysts at HSBC said in a Tuesday note that India's top-tier IT firms largely failed to meet street expectations for earnings in March quarter as well as in their outlooks for the new financial year, adding that strong spending globally on AI could be "crowding out" demand for traditional IT services.
HSBC's warning comes a day after OpenAI said it is launching a new company backed by more than $4 billion, embedding engineers into organizations to identify where AI can make the most impact. It's the latest challenge to Indian IT firms' business model from a major AI company targeting enterprise clients.
Indian IT stocks are unlikely to attract positive investor interest unless global AI activity, cloud capex growth and cloud revenue momentum slow, HSBC said.
Indian IT companies derive a significant share of their revenue from North America and are considered sensitive to U.S. economic uncertainty and corporate technology spending trends.
The industry has been under pressure for much of 2026, starting with a February rout after the roll-out of Anthropic's Claude Code and on fears rapid advances in generative AI would disrupt demand for traditional IT and professional services.
India's IT stocks have slid 25.4% so far this year, making them India's worst-performing sector, compared with a 9.7% drop in the benchmark Nifty 50 .NSEI.
March quarter results have done little to soothe investor worries. Dollar revenue at industry bellwether Tata Consultancy Services TCS.NS shrank 0.5% year-on-year to $30 billion for the year ended March - the first decline since the company's 2004 IPO.
Industry peers have flagged challenges of meeting targets with limited visibility on demand: HCL Tech's CEO C Vijayakumar said in the company's post-earnings investor call it took "25%-30% more effort to convert and get to the same number" in terms of total contract value.
The broader Indian market remained under pressure on Tuesday, with the rupee sliding to a record low on elevated crude oil prices with talks to end the U.S.-Israeli war with Iran finding no success.
India stocks buck broader EM rally https://sphinx.thomsonreuters.com/graphics/#/graphic/zjvqmleozvx
Indian IT stocks falls to three-year low on weak earnings outlook https://reut.rs/4u71A5a
(Reporting by Chandini Monnappa, Surbhi Misra and Pranav Kashyap in Bengaluru; Editing by Ronojoy Mazumdar)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
India's $315 billion IT sector under pressure
Worries about AI disruption return to the fore
AI momentum must slow for investor interest to return: HSBC
Adds details on sector paragraph 2 onwards
May 12 (Reuters) - India's IT shares fell to a three-year low on Tuesday as investor jitters around the threat posed by artificial intelligence to flagship IT firms flared up again, after OpenAI announced a new AI venture.
The Nifty IT index .NIFTYIT fell 3.6% to its lowest since May 2023, with Tata Consultancy Services TCS.NS, Infosys INFY.NS, HCL Technologies HCLT.NS and Wipro WIPR.NS falling between 2.5% and 4%.
Analysts at HSBC said in a Tuesday note that India's top-tier IT firms largely failed to meet street expectations for earnings in March quarter as well as in their outlooks for the new financial year, adding that strong spending globally on AI could be "crowding out" demand for traditional IT services.
HSBC's warning comes a day after OpenAI said it is launching a new company backed by more than $4 billion, embedding engineers into organizations to identify where AI can make the most impact. It's the latest challenge to Indian IT firms' business model from a major AI company targeting enterprise clients.
Indian IT stocks are unlikely to attract positive investor interest unless global AI activity, cloud capex growth and cloud revenue momentum slow, HSBC said.
Indian IT companies derive a significant share of their revenue from North America and are considered sensitive to U.S. economic uncertainty and corporate technology spending trends.
The industry has been under pressure for much of 2026, starting with a February rout after the roll-out of Anthropic's Claude Code and on fears rapid advances in generative AI would disrupt demand for traditional IT and professional services.
India's IT stocks have slid 25.4% so far this year, making them India's worst-performing sector, compared with a 9.7% drop in the benchmark Nifty 50 .NSEI.
March quarter results have done little to soothe investor worries. Dollar revenue at industry bellwether Tata Consultancy Services TCS.NS shrank 0.5% year-on-year to $30 billion for the year ended March - the first decline since the company's 2004 IPO.
Industry peers have flagged challenges of meeting targets with limited visibility on demand: HCL Tech's CEO C Vijayakumar said in the company's post-earnings investor call it took "25%-30% more effort to convert and get to the same number" in terms of total contract value.
The broader Indian market remained under pressure on Tuesday, with the rupee sliding to a record low on elevated crude oil prices with talks to end the U.S.-Israeli war with Iran finding no success.
India stocks buck broader EM rally https://sphinx.thomsonreuters.com/graphics/#/graphic/zjvqmleozvx
Indian IT stocks falls to three-year low on weak earnings outlook https://reut.rs/4u71A5a
(Reporting by Chandini Monnappa, Surbhi Misra and Pranav Kashyap in Bengaluru; Editing by Ronojoy Mazumdar)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
May 5 (Reuters) - CrowdStrike Holdings Inc CRWD.O:
CROWDSTRIKE EXPANDS PROJECT QUILTWORKS, THE CYBERSECURITY COALITION FOR SECURING FRONTIER AI RISK
CROWDSTRIKE - ARMADIN, COGNIZANT, HCLTECH, INFOSYS, KPMG, NTT DATA, TCS, WIPRO JOIN QUILTWORKS COALITION
CROWDSTRIKE - INTEGRATES ANTHROPIC OPUS 4.7 AI INTO FALCON PLATFORM
Source text: ID:nBw1WDjhXa
Further company coverage: CRWD.O
(([email protected];))
May 5 (Reuters) - CrowdStrike Holdings Inc CRWD.O:
CROWDSTRIKE EXPANDS PROJECT QUILTWORKS, THE CYBERSECURITY COALITION FOR SECURING FRONTIER AI RISK
CROWDSTRIKE - ARMADIN, COGNIZANT, HCLTECH, INFOSYS, KPMG, NTT DATA, TCS, WIPRO JOIN QUILTWORKS COALITION
CROWDSTRIKE - INTEGRATES ANTHROPIC OPUS 4.7 AI INTO FALCON PLATFORM
Source text: ID:nBw1WDjhXa
Further company coverage: CRWD.O
(([email protected];))
** India's HCLTech HCLT.NS and Infosys INFY.NS down ~9.8% and 5.4%, respectively, in April
** Stocks on track for their third straight monthly decline and biggest monthly fall since February
** During the month, Nifty IT .NIFTYIT index is up ~1.5%
** Losses after INFY and HCLT forecast weak FY27 revenue growth
** Analysts said revenue growth at country's top IT firms seen muted as AI benefits offset by cautious client spending
** Investor sentiment weakened on fears agentic AI could disrupt the $315 billion sector and cannibalize earnings
** Since fourth-quarter results, HCLT down ~16.1% and INFY down ~4.8%
** YTD, HCLTech down ~25.6%, Infosys down ~26.8% vs Nifty IT's decline of ~22.3%; benchmark Nifty 50 .NSEI index down ~8.3%
(Reporting by Bipasha Dey in Bengaluru)
(([email protected];))
** India's HCLTech HCLT.NS and Infosys INFY.NS down ~9.8% and 5.4%, respectively, in April
** Stocks on track for their third straight monthly decline and biggest monthly fall since February
** During the month, Nifty IT .NIFTYIT index is up ~1.5%
** Losses after INFY and HCLT forecast weak FY27 revenue growth
** Analysts said revenue growth at country's top IT firms seen muted as AI benefits offset by cautious client spending
** Investor sentiment weakened on fears agentic AI could disrupt the $315 billion sector and cannibalize earnings
** Since fourth-quarter results, HCLT down ~16.1% and INFY down ~4.8%
** YTD, HCLTech down ~25.6%, Infosys down ~26.8% vs Nifty IT's decline of ~22.3%; benchmark Nifty 50 .NSEI index down ~8.3%
(Reporting by Bipasha Dey in Bengaluru)
(([email protected];))
April 28 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LIC RAISES STAKE IN CO TO 7.010% FROM 5.003%
Source text: ID:nnAZN4ST4ID
Further company coverage: HCLT.NS
(([email protected];))
April 28 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LIC RAISES STAKE IN CO TO 7.010% FROM 5.003%
Source text: ID:nnAZN4ST4ID
Further company coverage: HCLT.NS
(([email protected];))
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What does HCL Technologies 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 Technologies?
HCL Technologies major competitors are Infosys, Wipro, Tech Mahindra, LTM, Oracle Finl. Service, Persistent Systems, Coforge. Market Cap of HCL Technologies is ₹3,53,862 Crs. While the median market cap of its peers are ₹1,32,708 Crs.
Is HCL Technologies financially stable compared to its competitors?
HCL Technologies seems to be less financially stable compared to its competitors. Altman Z score of HCL Technologies is 8.41 and is ranked 6 out of its 8 competitors.
Does HCL Technologies pay decent dividends?
The company seems to pay a good stable dividend. HCL Technologies latest dividend payout ratio is 88.1% and 3yr average dividend payout ratio is 90.56%
How has HCL Technologies allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable
How strong is HCL Technologies balance sheet?
Balance sheet of HCL Technologies is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of HCL Technologies improving?
The profit is oscillating. The profit of HCL Technologies is ₹17,434 Crs for TTM, ₹16,642 Crs for Mar 2026 and ₹17,390 Crs for Mar 2025.
Is the debt of HCL Technologies increasing or decreasing?
The net debt of HCL Technologies is decreasing. Latest net debt of HCL Technologies is -₹46,522 Crs as of Mar-26. This is less than Mar-25 when it was -₹40,125 Crs.
Is HCL Technologies stock expensive?
HCL Technologies is not expensive. Latest PE of HCL Technologies is 20.31, while 3 year average PE is 23.91. Also latest EV/EBITDA of HCL Technologies is 12.0 while 3yr average is 14.85.
Has the share price of HCL Technologies grown faster than its competition?
HCL Technologies has given lower returns compared to its competitors. HCL Technologies has grown at ~12.8% over the last 10yrs while peers have grown at a median rate of 12.99%
Is the promoter bullish about HCL Technologies?
Promoters seem to be bullish about the company. Latest quarter promoter holding is 60.88% and last quarter promoter holding is 60.86%.
Are mutual funds buying/selling HCL Technologies?
The mutual fund holding of HCL Technologies is decreasing. The current mutual fund holding in HCL Technologies is 9.04% while previous quarter holding is 9.22%.