HCL Technologies

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)

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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

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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)

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BENGALURU, July 3 (Reuters) - India's HCLTech HCLT.NS has won a $1.14 billion deal with a major European firm, the software services exporter said on Friday.

HCLTech's shares opened 4.6% higher on Friday after the announcement, boosting gains on the Nifty IT index, which was up 2.5%.

Here are some details:

• The deal will help HCLTech establish an AI-driven operating model to transform and manage the client's global digital workplace and enterprise networks, the company said.

• The deal will last for four-and-a-half years, and is extendable by another five years, it added, without providing further details about the European firm.

• This is entirely new business for the company, HCLTech said, and not from an existing client or a deal renewal.

• HCLTech, which will report its results for the first quarter of fiscal 2027 on July 13, has forecast revenue growth of 1%-4% for the year.

(Reporting by Haripriya Suresh in Bengaluru; Editing by Janane Venkatraman)

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June 25 (Reuters) - Magnum Ice Cream Company MICCT.AS:

• HAS ENTERED INTO LONG-TERM PARTNERSHIPS WITH A GROUP OF SIX TECHNOLOGY PROVIDERS

• PLANNED SUNSET OF KEY TRANSITIONAL SERVICES AGREEMENTS (TSAS) WITH UNILEVER

Source text

Further company coverage: MICCT.AS

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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

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Recasts story with analyst commentary, details and background

BENGALURU, June 19 (Reuters) - India's Nifty IT index .NIFTYIT fell to a three-year low on Friday after bellwether Accenture ACN.N forecast quarterly ​sales below Wall Street view, cut its annual revenue outlook and reported softer bookings in its managed services business.

Shares of Indian IT companies, including TCS TCS.NS, Infosys INFY.NS, and HCLTech HCLT.NS fell 4% to 8% after Accenture flagged deal delays and a $400 million hit to its Middle East business from the Iran conflict.

India's $315 billion IT sector faces concerns that AI could disrupt its labour-intensive model, while geopolitical and economic ​uncertainty weighs on demand as ​clients defer non-essential tech spending.

Analysts see a negative read-through for Indian IT, with Morgan Stanley saying investors had already priced in a weak start to fiscal 2027 but expect an improvement in the September quarter.

"However, with this commentary from Accenture, we think hopes of any meaningful improvement in growth in 2Q could start fading away," the note said.

Indian IT firms have limited direct exposure to the Middle East, said Pritesh Thakkar, equity analyst at PL Capital, but face indirect risks from delay in deal closures, slower project ramp-ups and prolonged decision cycles.

Accenture's forecast follows hawkish U.S. Federal Reserve commentary that has fuelled expectations of a September rate hike. Higher rates could dampen appetite for emerging markets and weigh on overseas spending, a risk for Indian IT firms with significant U.S. exposure.

Mayuresh Joshi, head of equity research at investment advisory firm William O'Neil & Co, told Reuters that the market is looking for growth, which is "clearly missing", even though existing order books support current revenues.

"In terms of what these hyperscalers and platform companies are doing and implementing across enterprise value chains, they'll (Indian IT companies) have to get their act together very fast, both in terms of organic and inorganic."

India's IT stocks have slid about 29% so far this year, making them the worst-performing sector, versus an 8.3% drop in the benchmark Nifty 50 .NSEI.

(Reporting by Haripriya Suresh in Bengaluru; Editing by Sherry Jacob-Phillips)

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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

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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)

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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)

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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

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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

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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

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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

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May 12 (Reuters) - India's Nifty IT index .NIFTYIT tumbled 3.6% on Tuesday to its lowest level since May 2023, as a weak earnings outlook and fears of slowing demand for traditional IT services rattled investors.

Analysts at HSBC said in a Tuesday note that fourth-quarter earnings and fiscal 2027 outlooks from India's top-tier IT firms largely missed expectations, adding that strong global artificial intelligence spending could be "crowding out" spending on traditional IT services.

HSBC's warning comes a day after OpenAI said it is launching a new company backed by more than $4 billion to help organisations build and deploy AI.

In February, global IT stocks saw a rout after Anthropic launched new tools that heightened concerns about AI-driven disruption in the data and professional services industry.

On Tuesday, shares of Indian IT companies including Tata Consultancy Services TCS.NS , InfosysINFY.NS , HCL Technologies HCLT.NS and Wipro WIPR.NS fell between 2.5% and 4%.

(Reporting by Surbhi Misra in Bengaluru; Editing by Ronojoy Mazumdar)

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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

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** 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)

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Changes media packaging code to INDIA-IT/STOCKS and rewrites throughout

By Urvi Dugar

BENGALURU, April 24 - Revenue growth for India's top IT firms will stay muted this fiscal year, as gains from artificial intelligence would be blunted with clients cutting spending amid macroeconomic and geopolitical uncertainty, analysts said.

The Nifty IT index .NIFTYIT, the worst performing sector of 2026, shed roughly $26 billion in market value this week after earnings from market leaders Tata Consultancy Services TCS.NS and Infosys INFY.NS disappointed investors amid worries that agentic AI would disrupt the $315 billion sector and cannibalise earnings.

India's top five IT firms are expected to post muted revenue growth of about 3%-4% in the near term, said Sushovan Nayak, analyst at Anand Rathi.

The sector, which employs about 5.9 million people, had last reported double-digit revenue growth in the March 2023 quarter. Analysts had expected a falling rupee to boost revenue by 10% across the sector.

The U.S., which accounts for more than half of the revenue at most large Indian IT firms, has seen softer deal pipelines, while uncertainty surrounding immigration and tariffs persists, and geopolitical conflicts further delay long‑term technology spending decisions.

The slowdown was the most acute in the banking and financial services, which is a key revenue driver for the sector.

TCS posted its first annual revenue decline in more than two decades, and said that new AI models and tools in the market did not hurt demand for its offerings.

Infosys, HCLTech HCLT.NS and Wipro WIPR.NS trimmed their forecast for fiscal 2027's revenue growth.

Despite near‑term pressures, analysts remain confident that IT companies will eventually leverage AI to defend margins and unlock new growth opportunities.

"Revenue from AI is growing at a fast pace, but it's coming off a very low base and is hardly 5% of total revenue," said Centrum Broking's Piyush Pandey, adding that AI was weighing on pricing, particularly in legacy contracts.

Given that, mid-sized IT firms such as LTM LTIM.NS and Persistent Systems PERS.NS that have stronger digital and AI-led exposure may outperform, said Nayak.

The benchmark Nifty 50 .NSEI is down 8.6% this year so far.

(Reporting by Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair)

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April 22 (Reuters) - HCLTech HCLT.NS fell 8% in early trade on Wednesday after it forecast fiscal 2027 revenue growth below analysts' expectations and reported a fourth-quarter earnings miss, citing restrained spending by clients of India's $315 billion IT industry.

Shares were set to fall the most since January 2025 and it was the top loser on the Nifty IT .NIFTYIT sub index.

(Reporting by Urvi Dugar in Bengaluru; Editing by Ronojoy Mazumdar)

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April 21 (Reuters) - HCL Technologies Ltd HCLT.NS:

• FY27 REVENUE GROWTH SEEN BETWEEN 1-4% Y/Y IN CC

• FY27 EBIT MARGIN SEEN BETWEEN 17.5-18.5%

• Q4 TCV OF NEW DEAL WINS AT $1,936 MLN

• ANNUALIZED ADVANCED AI REVENUES CROSSING $620 MILLION IN Q4

• HCLTECH CEO: PERFORMANCE CAME BELOW EXPECTATIONS DUE TO LOWER DISCRETIONARY SPEND, DELAYED DECISION MAKING

Further company coverage: HCLT.NS

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Recasts throughout; adds CEO, COO and analyst comments

By Haripriya Suresh and Sai Ishwarbharath B

BENGALURU, April 9 (Reuters) - Tata Consultancy Services TCS.NS reported better-than-expected quarterly results on Thursday and said that new artificial intelligence models and tools in the market did not hurt demand for its offerings.

The comments from India's top software-services exporter offered some relief to the $315 billion sector, which has been grappling with investor concerns that AI could disrupt its traditional, labour-intensive business model.

"FY26 was a pivotal year for enterprise AI adoption across industries. For the first time since the advent of generative AI in late 2022, the shift from experimentation to scaled AI deployment showed a marked improvement," TCS Chief Operating Officer Aarthi Subramanian said.

TCS, which also provides AI services to its clients, said its annualised AI revenue crossed $2.3 billion in the fourth quarter, driven by accelerated deployments across industries, up from $1.8 billion in the third quarter.

Some analysts were, however, not impressed with the number. "It is pretty minuscule," said Anshul Jethi, analyst at LKP Securities, comparing it to the size at which TCS is currently operating right now and its future AI plans. Others said TCS still had ground to cover on the AI front.

"TCS is not behind, but it is not yet leading. The next 12 to 24 months will depend on whether it can move from AI capability to AI-led business models that scale beyond pilots and into core client operations," said Phil Fersht, CEO of IT advisory firm HFS Research.

It is the first major Indian IT company to report fourth-quarter results. Rivals Infosys INFY.NS, Wipro WIPR.NS and HCLTech HCLT.NS are set to report later this month.

TCS reported a 9.7% rise in sales to 706.98 billion rupees ($7.63 billion), and a 12.2% jump in net profit to 137.18 billion rupees ($1.48 billion) in the quarter.

Analysts had expected sales of 694.94 billion rupees and a net profit of 136.46 billion rupees, according to data compiled by LSEG.

"Every revenue band saw a healthy addition this quarter after a gap of about two years. This speaks to the early signs of stability and growth returning to our mid-size and large accounts," TCS CEO K Krithivasan said.

Revenue from North America, which accounts for nearly half of TCS's revenue, grew 2.5% in the fourth quarter.

The company's quarterly order book stood at $12 billion, compared with $9.3 billion in the third quarter and $12.2 billion a year earlier.

($1 = 92.6575 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B in Bengaluru; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Shinjini Ganguli)

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By Haripriya Suresh and Bharath Rajeswaran

BENGALURU, April 6 (Reuters) - Top Indian information technology firms are set to report another lacklustre quarter, with revenue and profit seen rising around 10% year-on-year largely on a weaker rupee rather than underlying growth, seven brokerages said.

Uncertainties due to wars, weak discretionary spending and concerns around artificial intelligence will keep weighing on client budgets, making the revenue forecast for the next fiscal year a key focus for investors, they added.

Tata Consultancy Services TCS.NS, Infosys INFY.NS, HCLTech HCLT.NS and other software services exporters are due to report fourth quarter results starting April 9.

"We expect limited deal win surprises, patchy ex-BFSI growth and slow start to (the first half of 2027) on macro/gen AI uncertainty," Ambit Capital analysts said in a preview note.

The Indian rupee fell 4% against the U.S. dollar during the March quarter, and slid to record low levels.

Software services companies typically benefit as they bill in foreign currencies while incurring most costs in rupees, inflating profits when dollar revenues are converted.

The $315 billion sector, employing about 5.9 million people, last reported double-digit revenue growth in the March 2023 quarter. Since then, demand has softened as clients cut discretionary spending, deal cycles lengthened, and spending shifted towards cost optimisation and AI-led projects.

Infosys and HCLTech are likely to provide annual revenue forecasts of a rise between 2%-4% and 4%-6% respectively for the fiscal year 2027, the brokerages said.

Revenue for the top six firms -- TCS, Infosys, HCLTech, Wipro WIPR.NS, Tech Mahindra TEML.NS, and LTM LTIM.NS -- is expected to grow about 10.9% year-on-year in the March quarter, with net profit rising 10.3%.

On a constant currency basis, or stripping out exchange-rate effects, the top four IT firms are more likely to see revenue rise only 1.8% for the year, Ambit said.

Analysts at Yes Securities said performance was likely to be uneven, with relative resilience in banking and financial services, while retail, healthcare, and hi-tech segments could face pressure due to higher exposure to discretionary spending.

"Our recent interactions suggest that overall client budgets have not increased materially and discretionary spending remains at bay," analysts at Jefferies said in a preview note.

However, even a modest revenue forecast could support stock prices, HSBC analysts said, noting valuations currently reflect only low-single-digit growth.

While the fears around the impact due to AI are "difficult to validate or falsify, the burden of proof now sits with IT companies. Re-rating, thus, depends on proof of surviving and thriving," said analysts at Motilal Oswal.

Shares of IT companies .NIFTYIT are down 20% so far this year, on investor worries that advanced AI tools launched by Anthropic and Palantir could disrupt IT's traditional business models and cannibalise business. The Nifty 50 .NSEI is down 13%.

(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee)

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March 31 (Reuters) - HCL Technologies Ltd HCLT.NS:

• HCLTECH - HCLTECH AND CROWDSTRIKE EXPAND STRATEGIC PARTNERSHIP WITH LAUNCH OF CTEM SERVICES

Source text: ID:nBSE2lKwLH

Further company coverage: HCLT.NS

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-- Source link: https://tinyurl.com/2aadj5cb

-- Note: Reuters has not verified this story and does not vouch for its accuracy

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March 20 (Reuters) - HCL Technologies Ltd HCLT.NS:

• HCLTECH - HCL AMERICA INC FULLY REPAID USD 252.207 MILLION NOTES ON MARCH 10, 2026

Source text: ID:nBSE9TN25B

Further company coverage: HCLT.NS

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March 12 (Reuters) - HCL Technologies Ltd HCLT.NS:

• ANNOUNCES EXPANDED COLLABORATION WITH GOOGLE CLOUD

• HCLTECH ANNOUNCES EXPANDED COLLABORATION WITH GOOGLE CLOUD

Source text: ID:nBSE2Zp0bj

Further company coverage: HCLT.NS

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By Bharath Rajeswaran

March 6 (Reuters) - Foreign outflows from India's information technology stocks hit a seven-month high in February, on worries that artificial intelligence-led disruption could squeeze earnings.

Foreign portfolio investors sold IT stocks worth 169.49 billion rupees ($1.85 billion) for the month. That triggered a 19.5% drop in the IT index .NIFTYIT, its worst monthly performance since September 2008, when the global financial crisis upended equity markets, National Securities Depository (NSDL) data showed on Friday.

The 10 constituents of the index lost about $62.8 billion in market capitalisation in February after U.S. firms such as Anthropic and Palantir unveiled key updates in AI automation. Last year, FPIs offloaded a record 750 billion rupees ($8.18 billion) of IT stocks on weaker earnings and softer client spending.

"The IT sector is facing multiple headwinds, particularly from the rapid advancement of AI tools," said Piyush Gupta, fund manager at AlphaGrep Investment Management.

Constructive collaborations between Indian IT firms and global AI leaders, such as the strategic partnership between Infosys and Anthropic, and improvement in earnings in the sector will be crucial to restore FPI interest in the sector, according to three analysts.

Yet, February was not a one-way risk-off story. FPIs rotated aggressively into other pockets of the market, lifting overall inflows to 226.15 billion rupees, the highest in 17 months since September 2024.

The rebound in broader foreign appetite was fueled by improving corporate earnings and easing trade tensions after India sealed a key trade deal with the European Union and an interim framework for an agreement with the U.S.

Sectors such as capital goods, financials, metals, and energy drew strong foreign buying, supported by improving earnings despite a one-time hit from new labour codes.

AlphaGrep's Gupta said that while sturdier earnings and trade progress help the long game, the FPI comeback is likely to be gradual, highly sensitive to geopolitics and external shocks.

That fragility is already showing.

FPIs net sold 175.70 billion rupees of shares in just four sessions in March as the escalating U.S.-Israeli war with Iran spiked oil prices and squeezed global risk appetite.

($1 = 91.6750 indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Harikrishnan Nair)

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Feb 26 (Reuters) - HCL Technologies Ltd HCLT.NS:

• HCLTECH AND IIT KANPUR TO ADVANCE DEEP TECH INNOVATION FOR GCCS

Source text: ID:nBSE1YQDDY

Further company coverage: HCLT.NS

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