TECHM

Feb 17 (Reuters) - NVIDIA Corp NVDA.O:

• NVIDIA: TECH MAHINDRA DEPLOYING LARGE TELCO MODEL TO POWER AUTONOMOUS NETWORK OPERATIONS USING NVIDIA NIM

• NVIDIA: PERSISTENT ACCELERATES AI‑DRIVEN MOLECULAR DISCOVERY WITH NVIDIA BIONEMO AND NEMO AGENT TOOLKIT

• NVIDIA: INFOSYS BUILDS AN ENTERPRISE-GRADE CODING SMALL LANGUAGE MODEL WITH NVIDIA AI ENTERPRISE

• NVIDIA: RELIANCE NEW ENERGY EXPANDS COLLABORATION WITH CO & SIEMENS BY COMBINING SIEMENS’ DIGITAL TWIN TECHNOLOGY WITH CO'S OMNIVERSE LIBRARIES

• NVIDIA: COLLABORATING WITH NEXT‑GENERATION CLOUD PROVIDERS YOTTA, L&T AND E2E NETWORKS

• NVIDIA: DEVELOPERS BUILDING SOVEREIGN AI SYSTEMS CAN ACCESS NVIDIA NEMOTRON & NEMO TODAY

• NVIDIA: TATA CONSULTING ENGINEERS LAUNCHES COGNITIVE TWIN PLATFORM, BUILT ON NVIDIA OMNIVERSE

• NVIDIA: TO OFFER ANUSANDHAN NATIONAL RESEARCH FOUNDATION GRANTEE INSTITUTIONS COMPLIMENTARY ACCESS TO NVIDIA AI ENTERPRISE SOFTWARE

• NVIDIA: PARTNERING WITH VENTURE CAPITAL FIRMS INCLUDING PEAK XV, ELEVATION CAPITAL, ACCEL INDIA & OTHERS TO IDENTIFY & FUND AI STARTUPS

Source text: [ID:]

Further company coverage: NVDA.O

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Feb 9 (Reuters) - Tech Mahindra Ltd TEML.NS:

• SYNAXG AND TECH MAHINDRA PARTNER TO ADVANCE AI-NATIVE, 6G-READY NETWORK SOLUTIONS

Source text: ID:nPn9Sc9JGa

Further company coverage: TEML.NS

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Updates levels, adds graphic after paragraph 11

Feb 5 (Reuters) - Rapid advances in artificial intelligence, triggered in part by Anthropic's latest automation push, could structurally erode the IT sector's high-margin application services revenues, creating downside risks to earnings and valuations, analysts warn.

Shares in India's software exporters .NIFTYIT settled 0.6% lower on Thursday, a day after plunging 6% in their worst session for nearly six years, as AI-driven automation from U.S.-based Anthropic and Palantir fuelled fears of compressed project timelines and disruption to the industry's labour-intensive business model.

The weakness has echoed across global IT stocks this week, extending a broader selloff in companies seen as most exposed to potential AI disruption.

"There is more pain ahead for Indian IT," Jefferies said, adding that Anthropic's and Palantir's claims highlight how AI could potentially erode application service revenues for IT firms.

"With application services accounting for 40–70% of revenues, firms face growth pressures, and consensus growth estimates do not fully reflect this, posing downside risks to valuations."

DISRUPTION

Indian IT firms have been ramping up AI investments and re-skilling efforts, even as weak global tech spending, delayed client decision-making and pricing pressure have weighed on the sector. Foreign investors offloaded a record $8.5 billion worth of Indian IT stocks in 2025.

However, some analysts said the sharp selloff may be overdone.

JPMorgan said that while concerns around AI disruption were not without merit, it was illogical to extrapolate the launch of some tools to an expectation that companies will replace every layer of mission-critical enterprise software.

Domestic brokerage Kotak Institutional Equities described the decline as a case of "plenty of panic over a little flutter".

Among large IT firms, Tata Consultancy Services TCS.NS, Tech Mahindra TEML.NS and LTIMindtree LTIM.NS have higher exposure to application services, which account for about 55%–60% of revenues, while HCL Tech HCLT.NS has the lowest exposure at around 40%.

Their stocks fell between 4% and 7% % on Wednesday, and extended losses on Thursday.

Brokerage Motilal Oswal estimates that 9%-12% of industry revenues could be eliminated over the next four years due to AI-led disruption.

Jefferies expects AI to weigh on IT-sector revenue growth over the next one to two years, arguing that deflation in legacy service-line revenues will more than offset gains from AI-related opportunities.

The IT sub-index has lost 17% since the start of 2025, including Wednesday's selloff, and is on track for its worst week in over four months.

(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Writing by Chandini Monnappa; Editing by Mark Potter and Louise Heavens)

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**Shares of Tech Mahindra TEML.NS up 3.3% at 1,725.5 rupees

** India's fifth-largest IT firm posted bigger-than-expected third-quarter revenue; rose 8.3% to 143.93 billion rupees ($1.59 billion)

** ICICI Securities ("Hold"; PT: 1,600 rupees) says growth was better in a seasonally soft quarter and in the context of muted revenue growth for past several quarters

** BOB Capital Markets ("Hold"; PT: 1,783 rupees) says faster growth in top accounts (>$20 mln TTM revenue) vs the company average is viewed as a structural strength

** Systematix ("Sell"; PT: 1,367 rupees) says communications vertical continues to be a key growth driver on market share gains and TECHM's full-stack capabilities, with consolidation opportunities in Europe and Asia and improving U.S. sentiment

** Stock rated as "Hold" on average by 41 analysts; median PT at 1,707 rupees - data compiled by LSEG

** Stock is top gainer on Nifty IT index

** Stock fell 6.8% in 2025 vs Nifty IT index .NIFTYIT fell 12.6% in 2025

($1 = 90.6663 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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Jan 16 (Reuters) - Tech Mahindra Ltd TEML.NS:

• INDIA'S TECH MAHINDRA EXEC: DEAL MOMENTUM HAS BEEN ROBUST, DELIVERED HIGHEST DEAL WINS THIS QUARTER IN LAST 5 YEARS

• TECH MAHINDRA EXEC: SEEING SIGNS OF STABILITY ACROSS US, EUROPE

• TECH MAHINDRA EXEC: COMMUNICATIONS SHALL BE THE GROWTH VERTICAL AS WE HEAD INTO FY27

• TECH MAHINDRA EXEC: SEEING GOOD TRACTION IN AEROSPACE, INDUSTRIAL SPACE WITHIN U.S. MANUFACTURING

• TECH MAHINDRA EXEC: AUTO-RELATED TECH SPENDS CONTINUES TO BE TEPID IN THE U.S.

• TECH MAHINDRA EXEC: CONTINUE TO SEE SOFTNESS IN TECH, MEDIA AND ENTERTAINMENT VERTICAL DUE TO COST PRESSURES

• TECH MAHINDRA EXEC: DEAL PIPELINE IS STRONG ACROSS GEOGRAPHIES, VERTICALS

• TECH MAHINDRA EXEC: EXPECT TO OUTPERFORM OUR PEERS IN TERMS OF REVENUE GROWTH IN FY27

• TECH MAHINDRA EXEC: GROWTH TO BE ORGANIC TILL FY27, NO LARGESCALE ACQUISITIONS

Source text: [ID:]

Further company coverage: TEML.NS

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By Bharath Rajeswaran and Sai Ishwarbharath B

Jan 8 (Reuters) - India's information technology firms are expected to report another muted quarter, as tepid demand in the U.S. and holiday-period client shutdowns continue to weigh on tech spending, nine brokerages said ahead of earnings.

Brokerages expect the top six IT firms by revenue to post about 4% year-on-year revenue growth and a 5% rise in profit for the December quarter on average, reflecting prolonged demand softness, compared with 6.5% revenue growth in the September quarter.

Indian software exporters last reported double-digit revenue growth in the March quarter of 2023, when digital transformation, cloud adoption and remote-work demand surged in the post-pandemic period.

The broader $283 billion Indian IT industry continues to face macro headwinds, including uncertainty over U.S. tariffs, challenges from proposed $100,000 visa fees, and subdued client spending on concerns about growth in the world's largest economy.

India's IT companies earn a significant share of their revenue from the United States, making the world's largest economy crucial for the sector.

Sector bellwether Accenture's ACN.N recent earnings beat Wall Street expectations on AI-led demand, though its unchanged growth outlook underscores the cautious near-term environment.

Although India has no pure-play AI firms, IT companies are beginning to shape AI strategies through acquisitions and partnerships. Brokerages expect AI momentum to build over the next six months and demand to pick up into 2026.

"Clients remain cautious about committing incremental spending to large programs amid macro and tariff uncertainty and a new tech cycle," said Abhishek Pathak, research analyst at Motilal Oswal Financial Services.

U.S. tariff uncertainty, visa worries and weak spending drove record foreign outflows of $8.5 billion from IT stocks in 2025, nearly half of total foreign exits from Indian equities.

The Nifty IT index .NIFTYIT fell 12.6% in 2025, making it the worst-performing sector as Indian markets lagged Asian and emerging-market peers.

Tata Consultancy Services TCS.NS, the country's largest IT firm, will kick off the earnings season on January 12. Its revenue is expected to rise about 4.2% year-on-year, slower than the 5.6% growth reported last year.

Infosys INFY.NS and HCLTech HCLT.NS are forecast to report year-on-year revenue growth of about 8.1% and 4.6%, respectively, compared with 7.6% and 5.1% in the year-ago period.

Most brokerages do not expect HCLTech to upgrade its fiscal 2026 annual revenue forecast of 2%–3%, or Infosys to raise its forecast of 3%–5%.

Earnings across domestic equities are expected to improve in the December quarter on tax cuts, policy easing, stable growth and benign inflation, even as the period remains structurally weak for IT firms.

Fewer working days due to global client holidays weigh on billing and revenue, while brokerages flag margin pressure from furloughs and wage hikes at firms such as TCS and Wipro WIPR.NS.

However, resilience in the BFSI (banking, financial services and insurance) segment, deal ramp-ups, early signs of artificial intelligence strategy formation and rupee depreciation could offer support by mid-2026, six brokerages said.

(Reporting by Bharath Rajeswaran and Sai Ishwarbharath B in Bengaluru; Editing by Sherry Jacob-Phillips)

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Dec 19 (Reuters) - Tech Mahindra Ltd TEML.NS:

• COMPANY ORDERED TO REMIT 12.87 BILLION RUPEES FOR PF CONTRIBUTION

• ORDER DOES NOT HAVE MATERIAL FINANCIAL IMPACT

Source text: ID:nBSE6dBSXY

Further company coverage: TEML.NS

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Recasts throughout; adds analyst reaction

By Haripriya Suresh and Sai Ishwarbharath B

BENGALURU, Oct 16 (Reuters) - Indian IT firms Infosys INFY.NS, Wipro WIPR.NS and LTIMindtree LTIM.NS beat estimates for quarterly revenue on Thursday and pointed to improving demand in the back half of the year as clients show more willingness to fund AI projects.

Their upbeat results follow a strong showing by market leader Tata Consultancy Services > last week and bode well for the $283 billion sector, which has struggled in the past few quarters as customers cut discretionary spending amid tariff-related uncertainty.

"We are benefiting from consolidation plays on automation and on using AI for efficiency. That's the big focus that we see from our clients across industries," Infosys CEO Salil Parekh said on a conference call, noting there was a "huge" opportunity in the enterprise AI space.

Buzz around artificial intelligence is prompting more companies to consider funding projects tied to the technology to improve efficiency and drive automation, potentially opening up a major revenue stream for Indian IT firms.

Infosys, which topped analyst estimates for profit and revenue in the second quarter, sees full-year revenue growth of 2-3%, compared with its prior view of 1-3%.

Jefferies analysts said the forecast was achievable due to its "strong" deal bookings.

Smaller peer Wipro, which expects its revenue to range between a 0.5% decline and a 1.5% rise for the third quarter, is also gaining from clients warming up to AI projects.

"New demand that's picking up is AI," Wipro CEO Srini Pallia said. "Clients want to move away from proof of concepts to implementing AI and agentic AI across business processes and workflows."

RISING TIDE LIFTS ALL BOATS

Analysts viewed the quarter as a signal that the IT sector had put the worst behind it.

"The results highlight a stabilizing IT sector gradually regaining traction amid shifting client priorities toward AI and digital acceleration," StoxBox analyst Sagar Shetty said.

Anand Rathi's Sushovon Nayak confirmed that most of the IT firms, which had reported results, had shown "green shoots."

The sector has particularly gained from a recovery in spending by financial services firms.

Infosys and LTIMindtree beat second-quarter revenue estimates, driven by strength in the banking segment.
($1 = 87.8590 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Additional reporting by Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Anil D'Silva)

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Oct 14 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA EXEC: DEPENDENCE ON H1B VISAS IS LIMITED AS MOST US EMPLOYEES ARE CITIZENS, GREENCARD HOLDERS

• TECH MAHINDRA EXEC: EXPECT REVENUE GROWTH TO CONTINUE IN SECOND HALF OF FY26, SEE MACRO STABILISING IN POCKETS

Source text: [ID:]

Further company coverage: TEML.NS

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Adds reporters' bylines

By Sai Ishwarbharath B and Haripriya Suresh

BENGALURU, Aug 8 (Reuters) - Indian outsourcing giant Tata Consultancy Services' TCS.NS decision to cut over 12,000 jobs signals the start of a broader AI-fueled trend that could end up eliminating around half a million jobs over the next two to three years from the $283 billion sector, experts said.

While TCS pegged the move to shed 2% of its workforce to skill mismatches rather than AI-related productivity gains, experts viewed the largest-ever layoffs by India's top private employer as the beginning of things to come in the labour-intensive sector. Roughly 12,200 TCS middle and senior management jobs will be lost.

The industry, which has played a crucial role in creating a middle class in India, is increasingly seeing AI being used for everything from basic coding to manual testing and customer support.

The sector employed 5.67 million people as of March 2025 and accounted for over 7% of India's GDP. It has a huge multiplier effect due to the direct and indirect jobs it creates and the cars-to-homes consumption it drives in the world's fifth-largest economy.

It has historically absorbed a majority of India's engineers but that will change as rising AI use ekes out more efficiencies and demands newer skills that many current employees lack, according to half a dozen industry veterans, analysts, and staffing firms.

"We are in the midst of a massive transition that will transform white-collar work as we know it," said Silicon Valley-based Constellation Research founder and chairman Ray Wang, echoing other experts who warned that more layoffs are likely on the cards.

The most vulnerable employees include pure people managers with minimal tech knowledge, those in charge of testing or identifying bugs and ensuring user-friendliness before delivering software to clients, and infrastructure management staff who provide basic tech support and ensure networks and servers are working well, experts said.

"About 400,000 to 500,000 professionals are at risk of being laid off over the next two to three years as their skills don't match client demands," tech market intelligence firm UnearthInsight's founder Gaurav Vasu said, adding that about 70% of those layoffs would impact workers with 4-12 years' experience.

"This (fear stemming from TCS layoffs) may hurt consumer demand for tourism, luxury shopping and even delay long-term investments such as real estate," Vasu said.

TCS and its peers Infosys INFY.NS, HCLTech HCLT.NS, Tech Mahindra TEML.NS, Wipro WIPR.NS, LTIMindtree LTIM.NS, and Cognizant CTSH.O collectively employ over 430,000 workers with 13 to 25 years of experience, according to staffing firm Xpheno.

"At the moment, they may appear like the big fat middle layer," Xpheno's co-founder Kamal Karanth said. None of the IT firms responded to Reuters queries seeking comment.

"With cost optimization being the key driver for new deal wins, clients are asking for productivity benefits - a trend which is also growing due to the rise in AI adoption. This requires IT firms to do more work with the same number of employees or the same work with fewer employees," Jefferies analyst Akshat Agarwal said in a research note.

ADAPT OR PERISH

TCS, which had more than 613,000 workers before the layoffs, said in its late July announcement it was gearing up to be "future-ready" by investing in new technologies, entering new markets, deploying AI at scale for its clients and itself, and realigning its workforce model. It did not answer Reuters queries on how many layoffs were tied to AI adoption and why it could not redeploy the affected employees.

"This is very devastating news," said a 45-year-old, Kolkata-based TCS employee affected by the latest layoffs. "It is very difficult for people my age to get new jobs."

Some others who are still at TCS fretted over its mediocre performance bonuses for senior employees in recent quarters, a new "bench policy" that limits the time somebody could be without a project regardless of personal circumstances or past performance, on-boarding delays, and the emotional turmoil caused by the layoffs.

"All these developments have tanked the morale of mid-career folks like me," a Pune-based TCS employee said.

The Indian outsourcing sector has been a key employment engine since the 1990s, offering upward mobility to millions of engineers. But revenue growth has weakened recently as its clients, stung by inflation and U.S. tariff uncertainty, defer discretionary spending and demand better cost management.

"The tech industry is at an inflection point, as AI and automation move to the very core of how businesses operate," industry body Nasscom said.

During past tech revolutions, disruption was felt at the organisational level.

"With AI, for the first time, the onus is on the individual to reinvent or re-skill themselves," former Tech Mahindra CEO CP Gurnani said.

(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Dhanya Skariachan and Kim Coghill)

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BENGALURU, July 23 (Reuters) - India's Infosys INFY.NS narrowed its forecast for the current fiscal year on Wednesday, after posting bigger-than-expected first-quarter revenue on a boost from Europe market.

The Bengaluru-based firm changed its annual forecast to 1%-3% from the flat-to-up-3% range announced in the previous quarter.

Analysts were largely expecting the firm to lift the bottom end of the range to 1%.

The company's consolidated sales rose 7.5% year-on-year to 422.79 billion rupees ($4.89 billion) in the June quarter.

Analysts, on average, expected 418.06 billion rupees, as per data compiled by LSEG.

($1 = 86.3880 Indian rupees)

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

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** India's fifth-largest IT services firm by revenue, Tech Mahindra TEML.NS, drops 1.5% to 1,583.4 rupees in pre-open trade

** Co marginally missed first-quarter revenue estimates as sales in its Americas market posted steepest decline in nearly five years

** At least 11 brokerages out of 41 covering the stock reduced rating on the stock, while 10 cut price targets - data compiled by LSEG

** Mohit Joshi, CEO at Tech Mahindra said the market is very, very volatile and added that the company is seeing a continued slowdown in the auto and manufacturing products

** Stock down ~7% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

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** Tech Mahindra TEML.NS rises 1% ahead of first-quarter results later in the day

** Analysts, on average, expect IT exporter to post 2.9% y/y revenue growth, 38% y/y jump in profit on a low base, per data compiled by LSEG

** Motilal Oswal says outlook on segments, such as U.S. banking and financial service (BFS), and order book key to monitor

** Kotak says EBIT margins to improve as co's cost cutting programme gathers pace; expects "a solid FY26 on profitability"

** TEML and five other stocks on 10-member Nifty IT index .NIFTYIT rated "hold", per data compiled by LSEG

** Earlier this month, market leader TCS' TCS.NS revenue missed estimates; HCLTech HCLT.NS, which topped estimates, narrowed revenue forecast

** Since July 10, when TCS' results indicated prolonged lull in demand, TEML down 0.4% vs NIFTYIT's ~2% drop

(Reporting by Nandan Mandayam in Bengaluru)

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June 26 (Reuters) - Pininfarina SpA PNNI.MI:

• TECH MAHINDRA AND PININFARINA SIGN 6 MILLION EURO FINANCING AGREEMENT

• FINANCING TO LAST 12 MONTH

Further company coverage: PNNI.MI

(Reporting by Gdansk Newsroom)

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Corrects April 24 story headline to say "fourth-quarter", not "first-quarter" and changes date to "March 31" from "March 30" in paragraph 2

HYDERABAD, April 24 (Reuters) - Indian software services exporter Tech Mahindra TEML.NS reported a smaller-than-expected fourth-quarter revenue on Thursday as weakness in communications and hi-tech verticals continued to drag the company's revenues.

Consolidated revenue rose 4% to 133.84 billion rupees ($1.57 billion) year-on-year in the quarter ended March 31. Analysts, on average, expected revenue to come in at 134.52 billion rupees, as per data compiled by LSEG.

($1 = 85.2750 Indian rupees)

(Reporting by Haripriya Suresh; Editing by Nivedita Bhattacharjee)

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Adds analyst comment, recasts throughout

HYDERABAD, April 24 (Reuters) - India's Tech Mahindra TEML.NS missed analyst estimates for fourth-quarter revenue on Thursday, as economic uncertainty weighed on spends by the software services exporter's clients, especially in its telecom vertical.

The company's communications vertical, which generates a third of its total revenue, has been struggling for the past several quarters as persistently high inflation in several countries has weighed on consumer spending, forcing clients to tighten their budgets. Revenue from the segment fell 2.2% year-on-year.

U.S. President Donald Trump's unpredictable tariff policies have further fueled concerns about the India's IT sector, with some of the largest companies flagging delays in technology spending decisions by clients.

"Global economic conditions continue to present challenges," chief executive Mohit Joshi said.

He added the company was seeing volatility in some of its large sectors, especially manufacturing.

Growth had not come back in its telecom vertical, but there were "signs of stability returning" in Europe and Asia Pacific, Joshi said.

Tech Mahindra's consolidated revenue rose 4% year-on-year to 133.84 billion rupees ($1.57 billion) in the quarter ended March 31, but missed estimates of 134.52 billion rupees.

The IT services firm, which has lagged its peers and is undergoing a turnaround under Joshi, also saw revenue decline in its manufacturing and hi-tech verticals, while its other segments grew.

"I do feel that comparatively, we are in a much stronger position than we were maybe a year ago," Joshi said.

Tech Mahindra's profit for the quarter rose 76.5% to 11.67 billion rupees, largely due to lower subcontracting expenses and a deferred tax gain.

Its order bookings rose to $798 million from $500 million, a year earlier.

"Deal wins being better sequentially is also a good sign. However, the exposure of the telecom vertical has again increased from a revenue perspective. This may not be construed positively, but the BFSI exposure increasing is a good sign," Sushovon Nayak, an IT analyst at Anand Rathi, said.

($1 = 85.2750 Indian rupees)

(Reporting by Haripriya Suresh; Editing by Leroy Leo, Nivedita Bhattacharjee and Sonia Cheema)

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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 3 (Reuters) - ServiceNow Inc NOW.N:

• TECH MAHINDRA AND SERVICENOW PARTNER TO DELIVER NEXT-GEN BROADBAND SOLUTIONS FOR COMMUNICATION SERVICE PROVIDERS

  
  

Source text: ID:nPn2qyRvla

Further company coverage: NOW.N

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** Shares of Tech Mahindra TEML.NS rise 2% to 1,423.45 rupees apiece

** TEML is the top percentage gainer in IT index .NIFTYIT which is up 0.5%

** J.P.Morgan upgrades TEML to "neutral" from "underweight", citing likely margin expansion in an environment of subdued growth

** J.P. Morgan says macro uncertainty in the U.S. will weigh on March quarter earnings in the sector

** Brokerage downgrades HCLTech HCLT.NS to "neutral" from "overweight", citing likely weak March quarter results, soft deal wins

** HCLT shares down 0.7% on the day

** TEML shares are down 18.2% in 2025 so far, HCLT sheds 20% compared to Nifty IT's 16.5% drop

(Reporting by Bharath Rajeswaran in Bengaluru)

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Feb 28 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA LTD - APPROVES MERGER OF COMVIVA USA WITH COMVIVA AMERICAS

Source text: ID:nBSE1PkG54

Further company coverage: TEML.NS

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Feb 18 (Reuters) - Tech Mahindra Ltd TEML.NS:

• APPROVES MERGER OF WHOLLY-OWNED SUBSIDIARIES

Source text: ID:nBSE6dX802

Further company coverage: TEML.NS

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Adds margins, revenue forecast, analyst comment

By Manvi Pant

Jan 20 (Reuters) - Wipro's shares WIPR.NS surged about 8% on Monday, set for their best day in nearly four years, after India's No. 4 IT services company joined its peers in signaling a revival in demand.

The company beat third-quarter profit estimates on Friday and forecast revenue in the current quarter could increase sequentially by up to 1%, compared with no growth last quarter, with CEO Srinivas Pallia saying, "We see discretionary spending slowly coming back" after macroeconomic challenges in 2024.

"The guidance is an improvement from the previous quarter, while the deal bookings, that include small- to mid-sized deals, indicate some revival in discretionary tech spending," said Piyush Pandey, an analyst at Centrum Broking.

Wipro's shares were also among the top percentage gainers on the benchmark Nifty 50 .NSEI index, which was trading flat. At least eight brokerages raised their rating on Wipro's stock, while 16 raised their price targets, as per LSEG data.

The company's forecast of a more promising 2025 echoed the view of larger peers TCS TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS after the $254 billion IT services sector's growth was strangled for several quarters by clients reining in spending due to macroeconomic uncertainties and inflationary pressures.

Wipro's 11% increase in latest-quarter revenue from the BFSI (banking, financial services and insurance) segment, which accounts for about a third of total revenue, shows a pick up in discretionary spending, Jefferies analysts said in a note.

Asian Market Securities' analysts said Wipro's operating margin spiking to a three-year high of 17.5% was much faster than they anticipated and driven by rigour in deal execution.

Wipro expects revenue could range between a drop of 1% and an increase of 1% sequentially in the current quarter.

($1 = 86.4390 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)

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** IT services provider Tech Mahindra TEML.NS down ~2% to 1,657.6 rupees ahead of Q3 results post the bell

** Analysts expect TEML's consol profit to more than double to 10.46 bln rupees (about $121 mln), rev to grow about 2% to 133.53 bln rupees -LSEG data

** However, BOBCAPS thinks TEML's higher exposure to European markets means global currency volatility hit profitability

** IDBI Capital see moderate sequential growth in rev and core profit margin on better large-deals execution, turnaround plan benefits

** IT index .NIFTIT down 2.7%, as Infosys INFY.NS falls on concerns over Q3 earnings quality

** Market leader TCS TCS.NS has posted tepid performance in key market and HCLTech HCLT.NS missed Q3 rev view

** Morgan Stanley notes slower demand recovery for industry

** Wipro WIPR.NS to report results later today, down 2.2%

($1 = 86.5760 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Dec 20 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA LTD - YABX TECHNOLOGIES ENTERS AGREEMENT WITH SC VENTURES AND FURAHA HOLDINGS

• TECH MAHINDRA - YABX ACQUIRES 1.2 MILLION ORDINARY SHARES, 1.8 MILLION C ORDINARY SHARES OF FURAHA

Source text: ID:nBSE4zqQyT

Further company coverage: TEML.NS

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