INFY

July 24 (Reuters) - ** India's no. 2 IT services exporter Infosys INFY.NS raised the floor of its annual revenue forecast and posted bigger-than-expected quarterly sales on Thursday

** At least 11 analysts hiked PT on stock after results, raising the median PT to 1,700.50 rupees from 1,660 rupees last month, as per data compiled by LSEG

TICKING THE RIGHT BOXES

** Citi ("neutral," PT: 1,660 rupees) says INFY reported an all-around strong Q1, with its margins well ahead of peers

** Brokerage says it continues to prefer INFY over other large-caps, adding that INFY should clearly stand out within its peer group

** Morgan Stanley ("equal-weight," PT: 1,700 rupees) called INFY's Q1 results a "balanced performance" and said it expects INFY to delivery FY26 revenue growth towards the top end of its forecast range, with margins above the mid-point

** CLSA ("outperform," PT: 1,861 rupees) says INFY's results "ticked all the right boxes" and show it is capturing current demand areas of enterprise AI

** Brokerage added INFY reiterating FY26 margin forecast negated the view that gen-AI is leading to structural headwinds for IT firms' profitability and deals momentum

(Reporting by Kashish Tandon in Bengaluru)

((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))

July 23 (Reuters) - Businesses making everything from chips to steel reported downbeat results on Wednesday, with U.S. President Donald Trump's trade war inflicting damage even as Japan's deal lifted stocks and hopes that Europe can clinch a similar agreement.

Asian and European stock markets rallied as investors cheered a trade agreement between the United States and Japan, which lowers tariffs on auto imports and spares Tokyo punishing new levies on other goods. The news stirred hopes for a deal with the European Union ahead of the August 1 deadline set by the Trump administration. MKTS/GLOB

But results from Texas Instruments TXN.O and steelmaker SSAB SSABa.ST showed how chaotic U.S. trade policy has already hurt profits, adding to costs, upending supply chains and weighing on consumer confidence.

Texas Instruments' quarterly earnings report pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty.

Chipmakers such as Texas Instruments are not yet directly facing Trump's elevated tariffs, but the cost of chip-making tools has risen, and some of their end customers have pared back spending.

Late on Tuesday, Dutch computer chip equipment maker ASM International ASMI.AS warned that order intake from chipmakers had been "lumpy" in the second quarter. Its shares fell 8.5% on Wednesday.

"Tariffs are hitting home," said Neil Wilson, investment strategist at Saxo Markets.

Investors across the world are bracing for a slew of earnings this week that they hope will provide a window into how companies are navigating a torrent of challenges - from tariffs and regulatory changes to currency fluctuations, fickle consumer spending, higher prices, global conflicts and volatile oil prices.

As the second-quarter earnings season progresses, companies have reported a combined loss of $6.6 billion to $7.8 billion between July 16 and 22 for the full year, with the automotive, aerospace and pharmaceutical sectors being hurt the most by the tariffs.

General Motors accounted for a big chunk as it reiterated on Tuesday its expectation of a $4 billion to $5 billion hit from tariffs for 2025.

Late on Tuesday, Finland's Nokia NOKIA.HE blamed tariff headwinds and the weaker U.S. dollar as it lowered its guidance for 2025.

For Swedish steelmaker SSAB, the biggest issue is that tariffs are causing more shipments of cheap steel to be redirected to Europe, CEO Johnny Sjostrom told Reuters on Wednesday.

"The turbulence of tariffs and trade barriers resulted in increased uncertainty," he said in a statement, with the largest impact seen in the weakening European steel market.

EASING FEARS

All eyes are on Washington as governments scramble to close trade deals ahead of next week's deadline that the White House has repeatedly pushed back under pressure from markets and intense lobbying by industry.

While the Japan deal has eased investor worries, the threat of higher tariffs on other large economies remains, including the European Union, Canada and Brazil. Trump has also threatened higher sectoral tariffs on pharmaceuticals, chips and copper.

"So this is far from the end," said Deutsche Bank analysts following the Japan deal.

Some of the biggest companies to report earnings this week include Tesla TSLA.O, Google parent Alphabet GOOGL.O, Nestle NESN.S, LVMH LVMH.PA, Nvidia NVDA.O supplier SK Hynix 000660.KS, Indian IT company Infosys INFY.NS and South Korea's Hyundai Motor 005380.KS.

An EU-China summit on Thursday will also test European resolve and unity as the bloc faces intense trade pressure from both Beijing and the United States, while U.S. Treasury Secretary Scott Bessent meets Chinese officials in Sweden next week.

(Reporting by Reuters newsroom
Writing by Anne Marie Roantree in Hong Kong and Josephine Mason in London; Editing by Kirsten Donovan)

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July 22 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS COLLABORATES WITH AGCO TO DELIVER IT, HR OPERATIONS TRANSFORMATION

Source text: [ID:]

Further company coverage: INFY.NS

(([email protected];;))

• Infosys Ltd INFY.N, INFY.K is expected to show a rise in quarterly revenue when it reports results on July 23 for the period ending June 30 2025

• The Bangalore Karnataka-based company is expected to report a 4.2% increase in revenue to $4.91 billion from $4.71 billion a year ago, according to the mean estimate from 7 analysts, based on LSEG data.

• ​LSEG's mean analyst estimate for Infosys Ltd is for earnings of 19 cents per share.

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 7 "hold" and no "sell" or "strong sell."

• The mean earnings estimate of analysts was unchanged in the last three months. ​

• Wall Street's median 12-month price target for Infosys Ltd is $19.42, about 6.2% above its last closing price of $18.21

Previous quarterly performance (using preferred earnings measure in US dollars). ​

This summary was machine generated July 21 at 10:32 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact [email protected])

Adds analysts comments in paragraph 7 and 8, stock details in paragraph 3

July 18 (Reuters) - India's Wipro WIPR.NS rose as much as 4% on Friday after the country's fourth-largest IT firm reported better-than-expected quarterly earnings, driven by improved client spending in segments of its Americas business.

At least six brokerages upgraded Wipro's stock after the company posted a 0.8% rise in first-quarter revenue and an 11% jump in net profit, both topping analysts' average estimates, according to LSEG data.

Data also showed that at least 10 brokerages raised their price targets on the stock, which was the top gainer on the benchmark Nifty 50 index and the IT index .NIFTYIT early on Friday. The blue-chip index and the IT index were both down 0.6% and 0.2%, respectively.

India's fourth-largest IT company said it expects revenue for the September quarter to be in the range of $2.56 billion and $2.61 billion, ranging between a drop of 1% and a rise of 1%, in line with what analysts were expecting.

Analysts at Morgan Stanley said strong large deal wins at Wipro "bode well" for growth in the second half of the fiscal year, while those at Investec said deal wins were the "big highlight of the quarter," and were the highest in more-than 13 quarters.

Wipro's deal wins rose to $5 billion in the quarter, up from $3.3 billion a year earlier.

"More importantly, these large deals are concentrated among Wipro's top clients, which implies greater wallet share," Morgan Stanley analysts said in a note.

Wipro's quarterly performance stood in contrast to rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS, which reported weaker revenue for the same period.

TCS and Infosys INFY.NS shares were up 0.1%, while HCLTech shares were down 0.8% on Friday.

(Reporting by Manvi Pant; Editing by Chandini Monnappa and Nivedita Bhattacharjee)

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BENGALURU, July 16 (Reuters) - India's Tech Mahindra TEML.NS reported a marginally lower-than-expected first-quarter revenue on Wednesday as clients tightened non-essential spending amid tariff-related uncertainty.

Consolidated sales at India's fifth largest IT services firm by revenue rose 2.7% year-on-year to 133.51 billion rupees ($1.55 billion) in the June quarter.

Analysts, on average, expected 133.83 billion rupees, as per data compiled by LSEG.

($1 = 85.9340 Indian rupees)

(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Janane Venkatraman )

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July 11 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS LTD - ENTERS STIPULATION AND CONSENT ORDER WITH VERMONT DFR

• INFOSYS LTD - IMS RESOLVES MATTER WITHOUT HEARING, DOES NOT ADMIT VIOLATIONS

• INFOSYS - IMS IS REQUIRED TO PAY ADMINISTRATIVE PENALTY OF $125,000

Source text: ID:nNSE6PT4ZR

Further company coverage: INFY.NS

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BENGALURU, July 10 (Reuters) - India's Tata Consultancy Services TCS.NS reported lower-than-expected first-quarter revenue on Thursday as clients remained cautious about discretionary spending amid tariff-related uncertainty.

Consolidated sales at India's largest IT services firm by revenue rose 1.3% year-on-year to 634.37 billion rupees ($7.40 billion) in the June quarter.

Analysts, on average, expected 646.66 billion rupees, as per data compiled by LSEG.

($1 = 85.6690 Indian rupees)

(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Janane Venkatraman)

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June 20 (Reuters) - Infosys Ltd INFY.NS:

• INCORPORATED WHOLLY OWNED SUBSIDIARY INFOSYS LTD SPC IN OMAN

Source text: ID:nnAZN407S9Y

Further company coverage: INFY.NS

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June 18 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS AND ADOBE ANNOUNCE STRATEGIC COLLABORATION

• COLLABORATION FOR MARKETING TRANSFORMATION WITH AI

Source text: ID:nnAZN3ZUU6Z

Further company coverage: INFY.NS

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May 29 (Reuters) - Infosys Ltd INFY.NS:

• LAUNCHES OVER 200 ENTERPRISE AI AGENTS

• LAUNCHES OVER 200 ENTERPRISE AI AGENTS, PART OF INFOSYS TOPAZ AI OFFERINGS, GOOGLE CLOUD

Source text: ID:nBSE6FGYsZ

Further company coverage: INFY.NS

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May 27 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS AND E.ON COLLABORATE

Further company coverage: INFY.NS

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May 2 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - COMPLETES ACQUISITION OF THE MISSING LINK

Source text: [ID:]

Further company coverage: INFY.NS

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April 30 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS COLLABORATES WITH YORKSHIRE BUILDING SOCIETY

Source text: ID:nBSE6rc3t1

Further company coverage: INFY.NS

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April 29 (Reuters) - Infosys Ltd INFY.NS:

• ANNOUNCING INFOSYS TOPAZ FOR SAP S/4HANA CLOUD

Source text: [ID:]

Further company coverage: INFY.NS

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BENGALURU, April 23 (Reuters) - India's No.6 software services exporter LTIMindtree LTIM.NS on Wednesday marginally missed quarterly earnings estimates due to a revenue decline in its healthcare and consumer segments.

The company posted consolidated revenue of 97.72 billion rupees ($1.14 billion) for the quarter ended March 31, up 10% year-on-year, but below the analysts' average estimate of 98.57 billion rupees, according to LSEG data.

Its peers, Tata Consultancy Services TCS.NS and Infosys INFY.NS, have previously flagged a difficult year ahead, as global economic uncertainty and cautious client spending further impact the sector.

The Indian IT sector, valued at $283 billion, is facing challenges due to U.S. President Donald Trump's unpredictable tariff policies, which are causing uncertainty and delays in technology spending decisions among its major clients.

Indian IT companies expect retail and manufacturing clients to be more exposed to the tariff turmoil and may resort to cost-cutting if uncertainty persists.

The company's quarterly profit rose 2.5% to 11.29 billion rupees, while analysts, on average, were expecting a profit of 11.58 billion rupees.

Revenue at its healthcare and consumer verticals fell during the quarter by 16.2% and 1.9%, respectively. Its largest vertical, banking, financial services and insurance, grew 12%.

LTIMindtree's revenue from North America, which accounts for nearly 75% of its total, grew 6.8%, whereas its Europe market declined 1.5%.

"Our key verticals and a major geography drove our yearly growth despite an ongoing challenging macro environment," said Debashis Chatterjee, CEO, in a statement.

Its deal wins stood at $1.6 billion versus $1.68 billion in the previous quarter and $1.43 billion in the year-ago period.

The company's shares closed 5% higher ahead of the results.

($1 = 85.3880 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Vijay Kishore)

(([email protected]))

Recasts throughout, adds analyst and CEO comments

By Sai Ishwarbharath B and Haripriya Suresh

BENGALURU, April 22 (Reuters) - HCLTech HCLT.NS, India's third-largest IT services company, posted slightly lower-than-estimated fourth-quarter revenue on Tuesday, but projected growth opportunities to emerge from the global macro overhang.

The company expects "large opportunities" as clients use generative AI and other technologies to reduce costs in the tariff-driven environment, CEO C Vijayakumar said in a post-earnings conference.

"As I look beyond the uncertain short-term, I strongly believe there will be strong growth opportunities emerging out of the market," he said.

However, HCLTech expects the tariff-led turmoil to impact retail and manufacturing verticals and spill over to the other segments after fully kicking in.

The company's consolidated revenue rose 6.1% to 302.46 billion rupees ($3.6 billion) in the fourth fiscal quarter. Analysts on average expected revenue of 302.75 billion rupees, according to data compiled by LSEG.

It expects revenue growth to be in the range of 2% to 5% for fiscal 2026 that started on April 1.

"The street expectations on HCLTech's guidance were really low after Infosys' tepid number last week. HCLTech has delivered guidance (that) looks the best among peers in a conservative environment overall," said Piyush Pandey, lead IT analyst at Centrum Broking.

Industry leader Tata Consultancy Services TCS.NS missed its quarterly earnings estimates and warned about clients delaying decision-making in discretionary projects. Larger peer Infosys INFY.NS has forecast flat to 3% revenue growth for fiscal year 2026.

HCLTech's quarterly net profit rose 8.1% to 43.07 billion rupees, compared with analysts' mean estimate of 43.56 billion rupees.

Deal wins for the quarter stood at $3 billion, compared with $2.1 billion a year ago.

Four of the company's seven segments grew during the quarter, with the telecom and media vertical expanding by 24.3%.

HCLTech shares closed 0.1% lower on Tuesday while the sub-index of IT stocks .NIFTYIT that ended 0.57% lower that day.

($1 = 85.1710 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Mrigank Dhaniwala and Shreya Biswas)

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** Shares of India's No. 2 IT services exporter Infosys Ltd INFY.NS close 2.2% higher at 1,451 rupees

** INFY has dropped 25% this year up to its previous session, the most among India's top 3 IT firms, and analysts see this as a good buying opportunity

** Stock's price-to-earnings multiple at around 20x, which brokerages say is in line with 10-20-year averages and cheapest compared to TCS TCS.NS (~23x) and HCLTech HCLT.NS (20.8x) - data compiled by LSEG

** J.P.Morgan (maintains "overweight" rating) analysts say they "would buy into weakness" in INFY's current share price

** Investec (upgrades to "buy") says its price target of 1,575 rupees is justified even after accounting for risks

** Valuations are "not very demanding," says HSBC (maintains "buy")

** INFY top boost to 10-member Nifty IT .NIFTYIT index, which closed up 2.2%

** Day's gains bring down INFY's YTD losses to ~23%, but it remains the worst-performing large-cap IT stock

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

April 17 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS TO ACQUIRE LEADING ENERGY CONSULTING COMPANY, MRE CONSULTING

Source text: ID:nCNWcrwlMa

Further company coverage: INFY.NS

(([email protected];))

BENGALURU, April 16 (Reuters) - Wipro WIPR.NS, India's fourth-largest software services provider, posted lower-than-expected revenue for the fourth quarter, hurt by macro uncertainties weighing on client spending.

The company's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter. Analysts, on average, expected revenue to come in at 226.21 billion rupees, as per data compiled by LSEG.

($1 = 85.6410 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Nivedita Bhattacharjee)

April 16 (Reuters) - Spark New Zealand Ltd SPK.NZ:

• STRATEGIC IT COLLABORATION WITH INFOSYS

Source text: [ID:n450194-2]

Further company coverage: SPK.NZ

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BENGALURU, April 10 (Reuters) - India's largest software services provider Tata Consultancy Services TCS.NS posted lower-than-expected revenue for the fourth quarter due to persistent weakness in North America, its largest market.

The company's consolidated revenue rose 5.3% to 644.79 billion rupees ($7.49 billion) in the quarter. Analysts, on average, expected 647.58 billion rupees, per data compiled by LSEG.

($1 = 86.1390 Indian rupees)

(Reporting by Haripriya Suresh; Editing by Devika Syamnath)

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April 9 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS AND AIB EXTEND STRATEGIC COLLABORATION FOR DIGITAL TRANSFORMATION

Source text: [ID:]

Further company coverage: INFY.NS

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Corrects syntax in paragraph 1

By Haripriya Suresh

BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.

Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.

That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.

The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.

The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.

"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.

At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.

Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.

"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.

He added the impact of a potential slowdown could be apparent by the September quarter.

India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.

(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)

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April 2 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS - INFOSYS AND FORMULA E LAUNCH AI-POWERED STATS CENTER

Source text: ID:nPLXB0A3B3

Further company coverage: INFY.NS

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March 27 (Reuters) - Infosys Ltd INFY.NS:

• INFOSYS POWERS LKQ EUROPE'S HR TRANSFORMATION WITH A UNIFIED DIGITAL PLATFORM

Source text: ID:nCNWlcFBYa

Further company coverage: INFY.NS

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By Haripriya Suresh and Bharath Rajeswaran

BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.

Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.

Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.

"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.

India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.

Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.

Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.

According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.

Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".

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

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** Morgan Stanley tweaks its India focus list of stocks to add IT company Coforge COFO.NS and airlines operator Interglobe Aviation INGL.NS

** Brokerage removes Infosys INFY.NS and automaker Mahindra & Mahindra MAHM.NS to accommodate the additions

** Brokerage remains positive on large private sector financials, consumer, industrial and IT stocks

** Large-deal momentum, increasing addressable market, execution track record bodes well for COFO's growth prospects, it says

** Adds, COFO's recent underperformance over IT stocks offers good entry point

** COFO down 25% in 2025 so far; IT .NIFTYIT lost 17%

** INGL's rising market share in India, one of the fastest growing aviation markets, to aid earnings over fiscal years 2025-2027, according to Morgan Stanley

** COFO little changed on the day, INGL is up 1.6%; INFY and MAHM up 0.4% and 1.9%, respectively

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))