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LTIMindtree's quarterly revenue marginally misses expectations on weak healthcare segment
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)
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)
TCS Says ICICI Securities Partners With TCS To Upgrade Its Retail Trading Platform
April 22 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
ICICI SECURITIES PARTNERS WITH TCS
ICICI SECURITIES PARTNERS WITH TCS TO UPGRADE ITS RETAIL TRADING PLATFORM
Source text: [ID:]
Further company coverage: TCS.NS
(([email protected];;))
April 22 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
ICICI SECURITIES PARTNERS WITH TCS
ICICI SECURITIES PARTNERS WITH TCS TO UPGRADE ITS RETAIL TRADING PLATFORM
Source text: [ID:]
Further company coverage: TCS.NS
(([email protected];;))
Infosys forecasts weak fiscal 2026, stoking growth concerns for Indian IT sector
Adds share move, analyst and CEO commentary in paragraphs 3-6
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, April 17 (Reuters) - Infosys INFY.NS on Thursday forecast weaker-than-expected revenue growth for fiscal 2026, becoming the latest Indian IT firm to signal a tough year ahead as global economic uncertainty, tariff disruptions and cautious client spending weigh on the sector's outlook.
India's second-largest software services exporter said it expects revenue for fiscal 2026 to be flat to up 3%, while analysts were expecting a 2%–4% rise.
That sent U.S.-listed shares of the company down 3% in premarket trading.
Chief Executive Salil Parekh said on a conference call Infosys was starting to see some impact on consumer products due to broader macroeconomic challenges and flagged an "uncertain" environment, echoing sentiments from rivals Tata Consultancy Services TCS.NS and Wipro WIPR.NS.
"The first quarter is looking soft for all IT companies... For the sector, recovery has been pushed back by 4–5 months," said Piyush Pandey, lead IT analyst at Centrum Broking.
Infosys' forecast adds to mounting concerns facing India's $283 billion IT sector, which was already wrestling with subdued demand and delays in deal closures.
The company's revenue forecast suggests a quarterly run-rate of 0.5%–1.7% over the next year, analysts at Jefferies said, calling it "optimistic at the higher end."
Several other analysts said they expect Bengaluru-based Infosys to be more vulnerable to tariff-related uncertainty than its peers, given its heavier reliance on manufacturing and retail — its second and third-largest revenue drivers.
Revenue for the reported quarter rose 7.9% to 409.25 billion rupees ($4.79 billion) year-on-year, missing analyst estimates of 420.73 billion rupees, according to data compiled by LSEG.
Quarterly net profit fell 11.8% to 70.33 billion rupees, compared with analysts’ mean estimate of 66.95 billion rupees.
($1 = 85.3630 Indian rupees)
(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Nivedita Bhattacharjee)
(([email protected];))
Adds share move, analyst and CEO commentary in paragraphs 3-6
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, April 17 (Reuters) - Infosys INFY.NS on Thursday forecast weaker-than-expected revenue growth for fiscal 2026, becoming the latest Indian IT firm to signal a tough year ahead as global economic uncertainty, tariff disruptions and cautious client spending weigh on the sector's outlook.
India's second-largest software services exporter said it expects revenue for fiscal 2026 to be flat to up 3%, while analysts were expecting a 2%–4% rise.
That sent U.S.-listed shares of the company down 3% in premarket trading.
Chief Executive Salil Parekh said on a conference call Infosys was starting to see some impact on consumer products due to broader macroeconomic challenges and flagged an "uncertain" environment, echoing sentiments from rivals Tata Consultancy Services TCS.NS and Wipro WIPR.NS.
"The first quarter is looking soft for all IT companies... For the sector, recovery has been pushed back by 4–5 months," said Piyush Pandey, lead IT analyst at Centrum Broking.
Infosys' forecast adds to mounting concerns facing India's $283 billion IT sector, which was already wrestling with subdued demand and delays in deal closures.
The company's revenue forecast suggests a quarterly run-rate of 0.5%–1.7% over the next year, analysts at Jefferies said, calling it "optimistic at the higher end."
Several other analysts said they expect Bengaluru-based Infosys to be more vulnerable to tariff-related uncertainty than its peers, given its heavier reliance on manufacturing and retail — its second and third-largest revenue drivers.
Revenue for the reported quarter rose 7.9% to 409.25 billion rupees ($4.79 billion) year-on-year, missing analyst estimates of 420.73 billion rupees, according to data compiled by LSEG.
Quarterly net profit fell 11.8% to 70.33 billion rupees, compared with analysts’ mean estimate of 66.95 billion rupees.
($1 = 85.3630 Indian rupees)
(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Nivedita Bhattacharjee)
(([email protected];))
India's Wipro misses Q4 revenue estimates
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)
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)
India's TCS says retail, travel clients more exposed to US tariff turmoil
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, April 13 (Reuters) - Clients of India's Tata Consultancy Services TCS.NS in the retail, travel and automobile sectors are more exposed to fallout from U.S. tariffs and they may resort to cost-cutting if uncertainty persists, the company's CEO told Reuters.
The banking and financial services sector - which makes up nearly a third of revenue for India's biggest software exporter - remains unaffected, TCS top boss K Krithivasan said in an interview.
The global trade war and U.S. President Donald Trump's back-and-forth on tariffs have made it difficult to forecast market conditions, making businesses hesitant about signing off on big spending decisions.
"The consumer business, hospitality business, travel, auto industry are the businesses that we have to watch out for. If the uncertainty continues for longer, those businesses may have to focus more on cost optimisation, but at this time, I have not heard anything," Krithivasan said.
Retail and manufacturing are the company's second- and fourth- largest revenue contributors, while banking remains the largest.
TCS earns roughly half of its revenue from North America, a crucial market for Indian IT service providers that are exposed to the tariff fallout through their U.S. clients.
The company missed fourth-quarter earnings estimates on Thursday and warned about clients delaying decision-making in discretionary projects.
TCS, however, expects the uncertainty to be "shortlived".
Krithivasan maintained he expects fiscal year 2026 to be better than 2025, as there were still legacy software and systems clients may have to replace in the medium- to long-term.
TCS also said a trend of clients consolidating their IT vendors has helped the company gain market share.
"Particularly when customers look at cost optimization as a key focus area, they will try to reduce the number of service providers. TCS has been a beneficiary of these consolidations that have happened in FY25," Krithivasan said.
(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Devika Syamnath)
(([email protected];))
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, April 13 (Reuters) - Clients of India's Tata Consultancy Services TCS.NS in the retail, travel and automobile sectors are more exposed to fallout from U.S. tariffs and they may resort to cost-cutting if uncertainty persists, the company's CEO told Reuters.
The banking and financial services sector - which makes up nearly a third of revenue for India's biggest software exporter - remains unaffected, TCS top boss K Krithivasan said in an interview.
The global trade war and U.S. President Donald Trump's back-and-forth on tariffs have made it difficult to forecast market conditions, making businesses hesitant about signing off on big spending decisions.
"The consumer business, hospitality business, travel, auto industry are the businesses that we have to watch out for. If the uncertainty continues for longer, those businesses may have to focus more on cost optimisation, but at this time, I have not heard anything," Krithivasan said.
Retail and manufacturing are the company's second- and fourth- largest revenue contributors, while banking remains the largest.
TCS earns roughly half of its revenue from North America, a crucial market for Indian IT service providers that are exposed to the tariff fallout through their U.S. clients.
The company missed fourth-quarter earnings estimates on Thursday and warned about clients delaying decision-making in discretionary projects.
TCS, however, expects the uncertainty to be "shortlived".
Krithivasan maintained he expects fiscal year 2026 to be better than 2025, as there were still legacy software and systems clients may have to replace in the medium- to long-term.
TCS also said a trend of clients consolidating their IT vendors has helped the company gain market share.
"Particularly when customers look at cost optimization as a key focus area, they will try to reduce the number of service providers. TCS has been a beneficiary of these consolidations that have happened in FY25," Krithivasan said.
(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Devika Syamnath)
(([email protected];))
Street View-India's TCS faces growth, margin pressure as IT spending slows, decision-making lags
** Software-services exporter Tata Consultancy Services TCS.NS reported weaker-than-expected quarterly results on Thursday and also warned that uncertainty around U.S. tariffs was prompting clients to rethink discretionary projects
** Shares up 0.4% at 3,260 rupees in a volatile session on Friday, fluctuating between gains and losses
** Earlier in the session, stock dropped 1.1% in an upbeat broader market
SHORT-TERM DEMAND CHALLENGING; UNCONVINCED ON FY26 EXPECTATION
** Jefferies ("hold": PT 3,400 rupees) says growing pressures on discretionary IT spends, delays in decision-making likely to limit growth, margin expansion
** Nuvama ("buy": 4,050 rupees) expects demand environment to remain challenging for next 1-2 quarters due to macro uncertainty; but remain positive on medium-to-long term outlook as technology debt continues to be very high for enterprise
** Ambit Capital ("sell": PT 3,140 rupees) remains unconvinced on co expectations of FY26 being better than FY25, given co will have to grow at a steep 1.7% per quarter, compared with just 0.5–0.6% in FY24/25
** BOBCAPS ("hold": PT 3,072 rupees) says weak start for co in FY26 likely; profitability to improve in FY26 since low-margin BSNL deal shrinks
(Reporting by Aleef Jahan in Bengaluru)
** Software-services exporter Tata Consultancy Services TCS.NS reported weaker-than-expected quarterly results on Thursday and also warned that uncertainty around U.S. tariffs was prompting clients to rethink discretionary projects
** Shares up 0.4% at 3,260 rupees in a volatile session on Friday, fluctuating between gains and losses
** Earlier in the session, stock dropped 1.1% in an upbeat broader market
SHORT-TERM DEMAND CHALLENGING; UNCONVINCED ON FY26 EXPECTATION
** Jefferies ("hold": PT 3,400 rupees) says growing pressures on discretionary IT spends, delays in decision-making likely to limit growth, margin expansion
** Nuvama ("buy": 4,050 rupees) expects demand environment to remain challenging for next 1-2 quarters due to macro uncertainty; but remain positive on medium-to-long term outlook as technology debt continues to be very high for enterprise
** Ambit Capital ("sell": PT 3,140 rupees) remains unconvinced on co expectations of FY26 being better than FY25, given co will have to grow at a steep 1.7% per quarter, compared with just 0.5–0.6% in FY24/25
** BOBCAPS ("hold": PT 3,072 rupees) says weak start for co in FY26 likely; profitability to improve in FY26 since low-margin BSNL deal shrinks
(Reporting by Aleef Jahan in Bengaluru)
TCS Q4 Order Book At $12.2 Billion
April 10 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS Q4 ORDER BOOK AT $12.2 BILLION
Further company coverage: TCS.NS
(([email protected];))
April 10 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS Q4 ORDER BOOK AT $12.2 BILLION
Further company coverage: TCS.NS
(([email protected];))
REFILE-Indian IT firms brace for impact as tariffs fan US recession fears
Corrects syntax in paragraph 1
By Haripriya Suresh
BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.
Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.
That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.
The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.
The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.
"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.
At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.
Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.
"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.
He added the impact of a potential slowdown could be apparent by the September quarter.
India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.
Geographical breakup of revenues of IT companies. https://reut.rs/4jaQGFs
Indian IT firms exposure to verticals https://reut.rs/42gWcjc
(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)
(([email protected];))
Corrects syntax in paragraph 1
By Haripriya Suresh
BENGALURU, April 4 (Reuters) - India's $283-billion IT sector should brace for a rough year ahead as tariffs are likely to stoke inflation in its key U.S. market and force clients to cut spending, analysts said.
Although President Donald Trump did not impose direct tariffs on IT services, Indian firms are expected to feel the heat as clients, especially in manufacturing, logistics and retail sectors, adjust to the new levies.
That could slow deal cycles, delay existing projects and hurt revenue growth, analysts said. Bernstein and ICICI Securities rushed to cut their ratings on the Indian IT sector soon after the tariff announcement.
The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth.
The U.S. accounts for more than half of India's $190 billion software exports, making the sector sensitive to shifts in spending confidence among businesses in the world's largest economy. J.P.Morgan on Friday lifted global and U.S. recession odds to 60% after Trump's tariff announcement.
"With a rising risk of U.S. recession and uncertain decision-making, we think chances of fiscal 2026 being a complete washout are rising," J.P. Morgan said in a note on Friday, without giving specific numbers.
At least six analysts expect Indian IT firms to issue a "conservative" annual revenue growth forecast when quarterly results start next week.
Companies with a greater exposure to discretionary spending are expected to bear the brunt of any tariff-fueled slowdown.
"Discretionary IT spend will likely see an impact across the industry verticals. Companies to get impacted will typically be the high-growth companies in the large caps and some of the mid-caps where the exposure usually is much higher on the discretionary side," BNP Paribas analyst Kumar Rakesh said.
He added the impact of a potential slowdown could be apparent by the September quarter.
India's Nifty IT index .NIFTYIT fell 3.6% on Friday to take its losses for the week to 9.15%, the steepest weekly fall for the index in more than five years.
Geographical breakup of revenues of IT companies. https://reut.rs/4jaQGFs
Indian IT firms exposure to verticals https://reut.rs/42gWcjc
(Reporting by Haripriya Suresh; Editing by Dhanya Skariachan, Sonia Cheema and Saumyadeb Chakrabarty)
(([email protected];))
Indian IT earnings likely to stutter in fiscal 2026 on US spending woes, analysts say
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.
Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.
Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.
"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.
India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.
Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.
Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.
According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.
Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".
Performance of India's IT companies in 2025 so far https://reut.rs/4kNRylg
India's IT index eyes worst quarterly performance in nearly three years https://reut.rs/4kMMrSg
Brokerages' estimates of organic revenue growth in Indian IT companies https://reut.rs/426FsLx
Summary of brokerages' view on India's Nifty IT stocks https://reut.rs/4iBRV0e
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, March 21 (Reuters) - India's information technology companies, among the worst-performing sectors this year, may not see a recovery in fiscal 2026, analysts said, after Accenture ACN.N flagged weak discretionary spending and demand in its quarterly report.
Accenture, the world's largest IT services player and a bellwether for the Indian IT industry, warned on Thursday that spending on discretionary projects in the quarter "was still constrained" and flagged no meaningful increase in client budgets.
Escalating global trade tensions following fresh U.S. tariffs on trading partners has sparked concerns over a slowdown in the United States - a key market for Indian IT companies.
"Whatever has happened in the last two months has created a higher level of uncertainty in terms of how the first half of fiscal 2026 will pan out and what impact it will have on the FY26 recovery rate," Amit Chandra, deputy vice president at HDFC Securities, told Reuters.
India's IT index is currently down 15.3% so far this year and is set for its worst quarter since June 2022. Top firms such as TCS TCS.NS, Wipro WIPR.NS, Infosys INFY.NS and HCLTech HCLT.NS lost between 11.2% and 18.1% this year.
Analysts at Kotak Institutional Equities said softening demand recovery and weak mega deal flow in fiscal 2025 will result in lower incremental revenue from mega deals in fiscal 2026 for Indian Tier-1 IT. "Companies will also face net headwinds from early stages of gen AI adoption," they said.
Citi Research has estimated that IT companies in its coverage could see revenue growth of 4% in fiscal 2026, similar to fiscal 2025, while Morgan Stanley expects growth assumption to be hurt due to subdued client spending.
According to Chandra, while banking, financial services, and insurance (BFSI) and healthcare verticals showed signs of recovery, the last two months' uncertainty has meant that clients across sectors are "going into a wait-and-watch mode", and can likely curtail spends.
Accenture also largely flagged delays and cancellations of new contracts in the U.S. due to the Trump administration's moves. However, while "Indian IT has limited exposure," according to Citi analysts, this can "increase competitive intensity in other segments".
Performance of India's IT companies in 2025 so far https://reut.rs/4kNRylg
India's IT index eyes worst quarterly performance in nearly three years https://reut.rs/4kMMrSg
Brokerages' estimates of organic revenue growth in Indian IT companies https://reut.rs/426FsLx
Summary of brokerages' view on India's Nifty IT stocks https://reut.rs/4iBRV0e
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
TCS Partners With The Cumberland Building Society
March 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS PARTNERS WITH THE CUMBERLAND BUILDING SOCIETY
Source text: ID:nnAZN3L2Y4T
Further company coverage: TCS.NS
(([email protected];;))
March 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS PARTNERS WITH THE CUMBERLAND BUILDING SOCIETY
Source text: ID:nnAZN3L2Y4T
Further company coverage: TCS.NS
(([email protected];;))
TCS Partners With Air New Zealand
March 19 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS PARTNERS WITH AIR NEW ZEALAND
SIGNS FIVE-YEAR PARTNERSHIP WITH AIR NEW ZEALAND
PARTNERSHIP TO ENHANCE AIR NEW ZEALAND'S DIGITAL CAPABILITIES
Source text: ID:nBSE4xz7cf
Further company coverage: TCS.NS
(([email protected];;))
March 19 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS PARTNERS WITH AIR NEW ZEALAND
SIGNS FIVE-YEAR PARTNERSHIP WITH AIR NEW ZEALAND
PARTNERSHIP TO ENHANCE AIR NEW ZEALAND'S DIGITAL CAPABILITIES
Source text: ID:nBSE4xz7cf
Further company coverage: TCS.NS
(([email protected];;))
TCS Extends Partnership With Coop Danmark
March 12 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS EXTENDS PARTNERSHIP WITH COOP DANMARK
EXTENDED PARTNERSHIP TO SUPPORT CORE BUSINESS SYSTEM
Source text: [ID:]
Further company coverage: TCS.NS
(([email protected];;))
March 12 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS EXTENDS PARTNERSHIP WITH COOP DANMARK
EXTENDED PARTNERSHIP TO SUPPORT CORE BUSINESS SYSTEM
Source text: [ID:]
Further company coverage: TCS.NS
(([email protected];;))
Tata Consultancy Services Announces Acquisition Of Darshita Southern India Happy Homes
March 11 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
ANNOUNCES ACQUISITION OF DARSHITA SOUTHERN INDIA HAPPY HOMES
ACQUISITION COST 22.50 BILLION RUPEES FOR 100% EQUITY SHARES
Source text: ID:nBSEb4V6Lj
Further company coverage: TCS.NS
(([email protected];))
March 11 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
ANNOUNCES ACQUISITION OF DARSHITA SOUTHERN INDIA HAPPY HOMES
ACQUISITION COST 22.50 BILLION RUPEES FOR 100% EQUITY SHARES
Source text: ID:nBSEb4V6Lj
Further company coverage: TCS.NS
(([email protected];))
Tata Consultancy Services Says Northern Trust Expands Collaboration With TCS
March 6 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TATA CONSULTANCY SERVICES LTD - NORTHERN TRUST EXPANDS COLLABORATION WITH TCS
TATA CONSULTANCY SERVICES LTD - TO DEPLOY BANCSTM PLATFORM FOR NORTHERN TRUST
Source text: ID:nBSE9fxXsB
Further company coverage: TCS.NS
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March 6 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TATA CONSULTANCY SERVICES LTD - NORTHERN TRUST EXPANDS COLLABORATION WITH TCS
TATA CONSULTANCY SERVICES LTD - TO DEPLOY BANCSTM PLATFORM FOR NORTHERN TRUST
Source text: ID:nBSE9fxXsB
Further company coverage: TCS.NS
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TCS Partners With Vantage Towers
March 5 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS - TCS PARTNERS WITH VANTAGE TOWERS
TCS- PARTNERS WITH VANTAGE TOWERS
Source text: [ID:]
Further company coverage: TCS.NS
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March 5 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS - TCS PARTNERS WITH VANTAGE TOWERS
TCS- PARTNERS WITH VANTAGE TOWERS
Source text: [ID:]
Further company coverage: TCS.NS
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TCS Extends Partnership With DNB Bank ASA By 5 Years
Feb 28 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS - TCS EXTENDS PARTNERSHIP WITH DNB BANK ASA BY 5 YEARS FOR NEXT-GEN BANKING
Further company coverage: TCS.NS
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Feb 28 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS - TCS EXTENDS PARTNERSHIP WITH DNB BANK ASA BY 5 YEARS FOR NEXT-GEN BANKING
Further company coverage: TCS.NS
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Indian tech sector seen growing at 5.1% in FY25, Nasscom says
MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at 5.1% this fiscal year, driven by engineering research and development as well as rising global capacity centres, its main industry body said on Monday.
The National Association of Software and Service Companies (Nasscom) expects the industry's revenue to grow to $282.6 billion in fiscal 2025 and cross $300 billion in fiscal year 2026.
(Reporting by Haripriya Suresh and Sai Ishwarbharath; Editing by Janane Venkatraman)
(([email protected];))
MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at 5.1% this fiscal year, driven by engineering research and development as well as rising global capacity centres, its main industry body said on Monday.
The National Association of Software and Service Companies (Nasscom) expects the industry's revenue to grow to $282.6 billion in fiscal 2025 and cross $300 billion in fiscal year 2026.
(Reporting by Haripriya Suresh and Sai Ishwarbharath; Editing by Janane Venkatraman)
(([email protected];))
Tata Consultancy Services Launches Three Initiatives Under Salesforce Collaboration
Feb 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
LAUNCHES THREE INITIATIVES UNDER SALESFORCE COLLABORATION
TCS PARTNERS WITH SALESFORCE
Source text: ID:nNSE7DdFKJ
Further company coverage: TCS.NS
(([email protected];;))
Feb 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
LAUNCHES THREE INITIATIVES UNDER SALESFORCE COLLABORATION
TCS PARTNERS WITH SALESFORCE
Source text: ID:nNSE7DdFKJ
Further company coverage: TCS.NS
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TCS Collaborates With Massrobotics In North America
Feb 19 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS COLLABORATES WITH MASSROBOTICS IN NORTH AMERICA
TO DEPLOY A TEAM AT MASSROBOTICS’ BOSTON FACILITY
Source text: [ID:]
Further company coverage: TCS.NS
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Feb 19 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS COLLABORATES WITH MASSROBOTICS IN NORTH AMERICA
TO DEPLOY A TEAM AT MASSROBOTICS’ BOSTON FACILITY
Source text: [ID:]
Further company coverage: TCS.NS
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BREAKINGVIEWS-Migration jeopardises Modi's US charm offensive
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, Feb 11 (Reuters Breakingviews) - India is pulling out all the stops to be on Donald Trump's good side. The country has already made tariff concessions and fielded a planeload of deported immigrants ahead of Prime Minister Narendra Modi's visit to meet the U.S. President at the White House. But it is migration, not trade, that will be the sticking point in bilateral relations.
Narrowing India's $35 billion trade surplus with the United States should be manageable. Earlier this month, New Delhi undertook wide-ranging cuts to duties on American imports from Harley Davidson HOG.N motorcycles to components used by Apple AAPL.O to build smartphones. The country can also pledge to buy more American weapons and oil. Shipments of the latter amounted to $5 billion, or just 4% of bilateral trade, in the year to March 2024.
What Modi can offer on migration is far less straightforward. Trump has vowed to deport millions of illegal workers in the country and as of 2022, India was the third-largest source of undocumented immigrants in the U.S. behind Mexico and El Salvador, per data from Pew Research Center.
The country also supplies a huge chunk of legal skilled workers: India accounts for 72% of so-called H-1B visas, which allow companies from Amazon AMZN.O to Alphabet GOOGL.O, as well as Indian giants like Tata Consultancy Services TCS.NS, to hire specialised overseas workers such as software engineers. The programme benefits both sides: Big Tech gets access to lower-cost talent while India's skilled labour can find employment. But visa issuances have shrunk in recent years and the programme is getting an intense backlash from some of Trump's supporters.
A possible deal could see Modi agree to accept deported Indians back into the country without fuss in exchange for U.S. officials to speed up H-1B visas. But a repeat of the spectacle this month of hundreds of handcuffed people alighting from a U.S. military plane would be politically embarrassing, and shines an ugly spotlight on India's lack of high-quality jobs.
The problem for Modi, though, is that he has a weak hand with Trump with the fortunes of India's top tycoons hanging in the balance. Infrastructure magnate Gautam Adani is battling fraud charges levelled by U.S. federal investigators and the Securities and Exchange Commission, which his Adani group denies. The White House can also squeeze access to cheap Russian oil that helps India to keep inflation low, and which its largest company, Mukesh Ambani's Reliance Industries RELI.NS, is processing, or punish India with tariffs for pushing trade transactions in non-dollar currencies. A lot rides on Modi's U.S. charm offensive.
Follow @ShritamaBose on X.
CONTEXT NEWS
U.S. President Donald Trump has invited Indian Prime Minister Narendra Modi to visit the White House during February 12-14, Reuters reported on February 4, citing an unnamed White House official.
Separately, India slashed custom duties on motorcycles, such as those from Harley Davidson, with engine capacity of 1,600 cc or more, to 30% from 50% on fully built imports in the government’s annual budget announced on February 1. New Delhi also cut average tariffs to 11% from 13%, Finance Secretary Tuhin Kanta Pandey told Reuters in an interview after the budget.
Graphic: India is the third largest source of unauthorised immigrants in the U.S. https://reut.rs/4jPWplj
(Editing by Robyn Mak and Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, Feb 11 (Reuters Breakingviews) - India is pulling out all the stops to be on Donald Trump's good side. The country has already made tariff concessions and fielded a planeload of deported immigrants ahead of Prime Minister Narendra Modi's visit to meet the U.S. President at the White House. But it is migration, not trade, that will be the sticking point in bilateral relations.
Narrowing India's $35 billion trade surplus with the United States should be manageable. Earlier this month, New Delhi undertook wide-ranging cuts to duties on American imports from Harley Davidson HOG.N motorcycles to components used by Apple AAPL.O to build smartphones. The country can also pledge to buy more American weapons and oil. Shipments of the latter amounted to $5 billion, or just 4% of bilateral trade, in the year to March 2024.
What Modi can offer on migration is far less straightforward. Trump has vowed to deport millions of illegal workers in the country and as of 2022, India was the third-largest source of undocumented immigrants in the U.S. behind Mexico and El Salvador, per data from Pew Research Center.
The country also supplies a huge chunk of legal skilled workers: India accounts for 72% of so-called H-1B visas, which allow companies from Amazon AMZN.O to Alphabet GOOGL.O, as well as Indian giants like Tata Consultancy Services TCS.NS, to hire specialised overseas workers such as software engineers. The programme benefits both sides: Big Tech gets access to lower-cost talent while India's skilled labour can find employment. But visa issuances have shrunk in recent years and the programme is getting an intense backlash from some of Trump's supporters.
A possible deal could see Modi agree to accept deported Indians back into the country without fuss in exchange for U.S. officials to speed up H-1B visas. But a repeat of the spectacle this month of hundreds of handcuffed people alighting from a U.S. military plane would be politically embarrassing, and shines an ugly spotlight on India's lack of high-quality jobs.
The problem for Modi, though, is that he has a weak hand with Trump with the fortunes of India's top tycoons hanging in the balance. Infrastructure magnate Gautam Adani is battling fraud charges levelled by U.S. federal investigators and the Securities and Exchange Commission, which his Adani group denies. The White House can also squeeze access to cheap Russian oil that helps India to keep inflation low, and which its largest company, Mukesh Ambani's Reliance Industries RELI.NS, is processing, or punish India with tariffs for pushing trade transactions in non-dollar currencies. A lot rides on Modi's U.S. charm offensive.
Follow @ShritamaBose on X.
CONTEXT NEWS
U.S. President Donald Trump has invited Indian Prime Minister Narendra Modi to visit the White House during February 12-14, Reuters reported on February 4, citing an unnamed White House official.
Separately, India slashed custom duties on motorcycles, such as those from Harley Davidson, with engine capacity of 1,600 cc or more, to 30% from 50% on fully built imports in the government’s annual budget announced on February 1. New Delhi also cut average tariffs to 11% from 13%, Finance Secretary Tuhin Kanta Pandey told Reuters in an interview after the budget.
Graphic: India is the third largest source of unauthorised immigrants in the U.S. https://reut.rs/4jPWplj
(Editing by Robyn Mak and Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
GenAI to boost India's IT industry's productivity by up to 45%, EY India survey shows
MUMBAI, Feb 10 (Reuters) - The increasing use of generative artificial intelligence (GenAI) could boost the productivity of India's $254-billion software by 43%-45% over the next five years, according to a survey by consulting firm EY India.
This productivity boost, which EY India's survey states will span 500 roles, will come through the dual effect of the IT industry itself integrating elements of GenAI internally and as more client projects move from proof of concept to production.
Top IT companies such as Tata Consultancy Services TCS.NS and Infosys INFY.NS have highlighted the use of AI by clients to do new projects and EY India said 89% of them have started trialling GenAI projects, with 33% of those already in production.
"Enterprises are moving beyond experimentation to putting AI into production at scale. The rapid transition from POC to enterprise-wide adoption reflects the industry's confidence in AI's potential," Abhinav Johri, a technology consulting partner at EY India, said in a statement.
Within the sprawling IT industry, EY India's survey showed that roles in software development will get the biggest productivity boost, of roughly 60%, followed by a 52% improvement for BPO services and 47% for IT consulting.
This trio -- software development, BPO services and IT consulting -- will account for 50%-60% of the overall productivity improvement in tech services, the survey showed.
The increasing use of AI is not only helping the IT industry enhance customer service but is also lowering costs and improving revenue growth, according to executives surveyed by EY India.
(Reporting by Haripriya Suresh; Editing by Savio D'Souza)
(([email protected];))
MUMBAI, Feb 10 (Reuters) - The increasing use of generative artificial intelligence (GenAI) could boost the productivity of India's $254-billion software by 43%-45% over the next five years, according to a survey by consulting firm EY India.
This productivity boost, which EY India's survey states will span 500 roles, will come through the dual effect of the IT industry itself integrating elements of GenAI internally and as more client projects move from proof of concept to production.
Top IT companies such as Tata Consultancy Services TCS.NS and Infosys INFY.NS have highlighted the use of AI by clients to do new projects and EY India said 89% of them have started trialling GenAI projects, with 33% of those already in production.
"Enterprises are moving beyond experimentation to putting AI into production at scale. The rapid transition from POC to enterprise-wide adoption reflects the industry's confidence in AI's potential," Abhinav Johri, a technology consulting partner at EY India, said in a statement.
Within the sprawling IT industry, EY India's survey showed that roles in software development will get the biggest productivity boost, of roughly 60%, followed by a 52% improvement for BPO services and 47% for IT consulting.
This trio -- software development, BPO services and IT consulting -- will account for 50%-60% of the overall productivity improvement in tech services, the survey showed.
The increasing use of AI is not only helping the IT industry enhance customer service but is also lowering costs and improving revenue growth, according to executives surveyed by EY India.
(Reporting by Haripriya Suresh; Editing by Savio D'Souza)
(([email protected];))
Cognizant forecasts 2025 revenue below estimates as businesses temper IT spending
Adds details, executive comment in paragraph 3,4
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to rethink spending on consultancy services while prioritizing investments in AI-related projects.
Still, an increase in spending by clients in the financial services sector helped Cognizant win more large deals in the fourth quarter than a year earlier, powering its quarterly revenue above Wall Street expectations.
"In North America, we are seeing an improved pipeline of opportunities for transformation and modernization projects across both insurance and select ADRs of banking and financial services clients," finance chief Jatin Dalal said.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with analysts' average estimate of $1.12 per share.
The New Jersey-based company said it expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared with analysts' average estimate of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.30 billion and $20.80 billion, lower than estimates of $20.89 billion compiled by LSEG.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with analysts' average estimate of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Adds details, executive comment in paragraph 3,4
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to rethink spending on consultancy services while prioritizing investments in AI-related projects.
Still, an increase in spending by clients in the financial services sector helped Cognizant win more large deals in the fourth quarter than a year earlier, powering its quarterly revenue above Wall Street expectations.
"In North America, we are seeing an improved pipeline of opportunities for transformation and modernization projects across both insurance and select ADRs of banking and financial services clients," finance chief Jatin Dalal said.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with analysts' average estimate of $1.12 per share.
The New Jersey-based company said it expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared with analysts' average estimate of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.30 billion and $20.80 billion, lower than estimates of $20.89 billion compiled by LSEG.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with analysts' average estimate of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Cognizant forecasts 2025 revenue below estimates as businesses temper IT spending
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to cut back on consultancy services while prioritizing investments in AI-related projects.
Cognizant's shares fell 1.2% in extended trading.
Uncertainty around rate cuts by the U.S. Federal Reserve this year is exacerbated by President Donald Trump's changes to immigration policies, tariffs and other initiatives, forcing companies to limit spending.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share.
The New Jersey-based company expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared to analysts' estimates of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.3 billion and $20.8 billion, lower than estimates of $20.89 billion.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with estimates of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.
Persistent high capital costs continue to strain IT spending, prompting enterprises to cut back on consultancy services while prioritizing investments in AI-related projects.
Cognizant's shares fell 1.2% in extended trading.
Uncertainty around rate cuts by the U.S. Federal Reserve this year is exacerbated by President Donald Trump's changes to immigration policies, tariffs and other initiatives, forcing companies to limit spending.
The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.
Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share.
The New Jersey-based company expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared to analysts' estimates of $5.06 billion.
Cognizant expects its 2025 revenue to be between $20.3 billion and $20.8 billion, lower than estimates of $20.89 billion.
It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with estimates of $4.99 per share.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
(([email protected];))
India's Wipro eyes best day in four years on echoing IT peers' demand revival hopes
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 revenue and profit estimates on Friday and CEO Srinivas Pallia said, "We see discretionary spending slowly coming back" after facing macroeconomic challenges in 2024.
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.
"Wipro is witnessing a pick up in discretionary spends in its BFSI (banking, financial services and insurance) segment - evident from 11% y/y growth in revenue," Jefferies analysts said in a note, raising both their rating and price target.
The BFSI segment accounts for about a third of the company's revenue.
Wipro's bet of a more promising 2025 echoed similar indications from larger peers TCS TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS.
India's $254 billion IT services sector has faced sluggish growth for several quarters due to global macroeconomic uncertainties and inflationary pressures, which have pushed clients to rein in spending.
($1 = 86.4390 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)
(([email protected]; +918447554364;))
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 revenue and profit estimates on Friday and CEO Srinivas Pallia said, "We see discretionary spending slowly coming back" after facing macroeconomic challenges in 2024.
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.
"Wipro is witnessing a pick up in discretionary spends in its BFSI (banking, financial services and insurance) segment - evident from 11% y/y growth in revenue," Jefferies analysts said in a note, raising both their rating and price target.
The BFSI segment accounts for about a third of the company's revenue.
Wipro's bet of a more promising 2025 echoed similar indications from larger peers TCS TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS.
India's $254 billion IT services sector has faced sluggish growth for several quarters due to global macroeconomic uncertainties and inflationary pressures, which have pushed clients to rein in spending.
($1 = 86.4390 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)
(([email protected]; +918447554364;))
India's Infosys shares fall on worries about quality of earnings
Stock bottoms Nifty 50, set for worst session in 1-1/2 yrs
Deal pipeline signals slower pace of demand recovery - Morgan Stanley
Analysts await further evidence on discretionary spends - analyst
Adds details on forecast, analyst comment, background on peers
By Indranil Sarkar and Manvi Pant
Jan 17 (Reuters) - Shares of India's No. 2 software services exporter Infosys INFY.NS fell nearly 6% on Friday and were set for their biggest one-day decline since July 2023, as analysts raised concerns about the quality of earnings following its third-quarter report.
The stock was down 5.7% as of 11:49 a.m. IST, and was the top drag on the IT index .NIFTYIT and the benchmark Nifty 50 .NSEI, which declined 2.5% and 0.7% respectively.
Its U.S.-listed shares INFY.N fell about 6% overnight.
Infosys on Thursday raised its annual revenue forecast for the third time this financial year as its U.S. banking and retail clients warmed up to spending more on discretionary projects, echoing Tata Consultancy Services TCS.NS and HCLTech HCLT.NS.
However, analysts were concerned about the "quality" of the earnings report, which overshadowed the outlook.
The revenue growth was driven by a higher component of "third-party items" in Infosys' deal pipeline, "which drove concerns around the quality of the beat and raise", Morgan Stanley analysts said in a note.
"Given that the commentary on small deals pipeline is not showing any meaningful signs of inflection, we now assume the (industry-wide) recovery to be more gradual than before," they said.
Small deals comprise more than two-thirds of the company's total deal intake, according to BofA Global Research.
Markets are awaiting further evidence of uptick in discretionary spending, not just commentary from IT companies, said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.
Infosys shares gained 22.5% in 2024, outperforming TCS and LTIMindtree LTIM.NS, but trailed behind HCLTech, which rose 31%.
(Reporting by Indranil Sarkar and Manvi Pant in Bengaluru, additional reporting by Anuran Sadhu; Editing by Mrigank Dhaniwala and Varun H K)
(([email protected]; +918447554364;))
Stock bottoms Nifty 50, set for worst session in 1-1/2 yrs
Deal pipeline signals slower pace of demand recovery - Morgan Stanley
Analysts await further evidence on discretionary spends - analyst
Adds details on forecast, analyst comment, background on peers
By Indranil Sarkar and Manvi Pant
Jan 17 (Reuters) - Shares of India's No. 2 software services exporter Infosys INFY.NS fell nearly 6% on Friday and were set for their biggest one-day decline since July 2023, as analysts raised concerns about the quality of earnings following its third-quarter report.
The stock was down 5.7% as of 11:49 a.m. IST, and was the top drag on the IT index .NIFTYIT and the benchmark Nifty 50 .NSEI, which declined 2.5% and 0.7% respectively.
Its U.S.-listed shares INFY.N fell about 6% overnight.
Infosys on Thursday raised its annual revenue forecast for the third time this financial year as its U.S. banking and retail clients warmed up to spending more on discretionary projects, echoing Tata Consultancy Services TCS.NS and HCLTech HCLT.NS.
However, analysts were concerned about the "quality" of the earnings report, which overshadowed the outlook.
The revenue growth was driven by a higher component of "third-party items" in Infosys' deal pipeline, "which drove concerns around the quality of the beat and raise", Morgan Stanley analysts said in a note.
"Given that the commentary on small deals pipeline is not showing any meaningful signs of inflection, we now assume the (industry-wide) recovery to be more gradual than before," they said.
Small deals comprise more than two-thirds of the company's total deal intake, according to BofA Global Research.
Markets are awaiting further evidence of uptick in discretionary spending, not just commentary from IT companies, said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.
Infosys shares gained 22.5% in 2024, outperforming TCS and LTIMindtree LTIM.NS, but trailed behind HCLTech, which rose 31%.
(Reporting by Indranil Sarkar and Manvi Pant in Bengaluru, additional reporting by Anuran Sadhu; Editing by Mrigank Dhaniwala and Varun H K)
(([email protected]; +918447554364;))
India's Infosys beats Q3 revenue view, raises full-year forecast
BENGALURU, Jan 16 (Reuters) - Infosys INFY.NS, India's second-largest IT services provider, reported better-than-expected third-quarter revenue on Thursday, aided by a pickup in demand in its banking and financial services vertical.
Revenue rose 7.6% to 417.64 billion rupees ($4.83 billion) in the October-December period, surpassing average analysts' estimate of 412.78 billion rupees, according to data compiled by LSEG.
Infosys revised its revenue growth forecast upwards to 4.5%-5%, from 3.75%-4.5%.
($1 = 86.5510 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Savio D'Souza)
BENGALURU, Jan 16 (Reuters) - Infosys INFY.NS, India's second-largest IT services provider, reported better-than-expected third-quarter revenue on Thursday, aided by a pickup in demand in its banking and financial services vertical.
Revenue rose 7.6% to 417.64 billion rupees ($4.83 billion) in the October-December period, surpassing average analysts' estimate of 412.78 billion rupees, according to data compiled by LSEG.
Infosys revised its revenue growth forecast upwards to 4.5%-5%, from 3.75%-4.5%.
($1 = 86.5510 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Savio D'Souza)
India's TCS expects retail, manufacturing revival after banking recovery
TCS expects rebound in retail, manufacturing after banking recovery
Stock surged on Friday after CEO's positive signal on demand
CFO allays concerns about insourcing threat
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU/MUMBAI, Jan 12 (Reuters) - India's Tata Consultancy Services TCS.NS expects its retail and manufacturing clients in North America to step up spending on tech, following a similar upturn in its banking and financial services segment, a top executive of the nation's No. 1 software-services exporter, said.
"We have heard about good holiday season sales (in the U.S.) that should boost consumer sentiment and manufacturing has some of the labour issues behind them," CFO Samir Seksaria told Reuters.
"If these three verticals (along with banking) improve overall, we should see a good recovery," he said.
Seksaria's cautious optimism highlights broader global economic uncertainties and sticky inflation that have forced clients to keep a leash on tech spending.
The company's revenue in North America, its largest market, declined for the fifth consecutive quarter even as banking and financial services posted their best performance since June 2023.
Retail and manufacturing are the second- and fourth- largest revenue contributors to the $29 billion behemoth.
Last month, Walmart Inc WMT.N, Amazon.com AMZN.O, and fast-growing e-commerce sites Shein and PDD Holding's PDD.O Temu, saw record-breaking sales on Black Friday and Cyber Monday.
U.S. online spending too rose nearly 9% to $241.4 billion during the recent holiday season.
TCS' communications and media vertical, a capital-intensive segment that is currently one of the company's laggards, will also see some pickup if interest rates start to go down, Seksaria said.
The comments echo CEO Krithivasan's sentiment that the incoming U.S. administration is likely to remove policy uncertainty and boost client confidence to spend on discretionary projects.
On Friday, its Mumbai-listed shares closed up 5.6%, its highest single day rise since July 2024.
TCS also played down concerns over the rise in insourcing by multinational corporations through global capability centres (GCCs), potentially slashing work that would have been contracted to IT players in the past.
A growing number of global companies are increasing their local offices in India and expanding in-house teams, adding roles such as engineering, cybersecurity and accounting and finance. India's GCC market size is estimated to reach $105 billion by 2030.
"Initially, there could a cost advantage, probably GCCs are right now being seen as global cost saving centers. But as things go into next year, maintaining cost and delivering cost productivity in a 3-year to 7-year period is where the cyclicality of opening and shutting of GCCs keeps coming," said Seksaria.
In 2023, Infosys INFY.NS acquired the captive arm of Danske Bank DANSEN.UL and before that TCS acquired Post Bank AG's unit of 1,500 employees in late 2020.
(Reporting by Sai Ishwarbharath B in Bengaluru and Haripriya Suresh in Mumbai.
Editing by Dhanya Skariachan and Shri Navaratnam)
(([email protected];))
TCS expects rebound in retail, manufacturing after banking recovery
Stock surged on Friday after CEO's positive signal on demand
CFO allays concerns about insourcing threat
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU/MUMBAI, Jan 12 (Reuters) - India's Tata Consultancy Services TCS.NS expects its retail and manufacturing clients in North America to step up spending on tech, following a similar upturn in its banking and financial services segment, a top executive of the nation's No. 1 software-services exporter, said.
"We have heard about good holiday season sales (in the U.S.) that should boost consumer sentiment and manufacturing has some of the labour issues behind them," CFO Samir Seksaria told Reuters.
"If these three verticals (along with banking) improve overall, we should see a good recovery," he said.
Seksaria's cautious optimism highlights broader global economic uncertainties and sticky inflation that have forced clients to keep a leash on tech spending.
The company's revenue in North America, its largest market, declined for the fifth consecutive quarter even as banking and financial services posted their best performance since June 2023.
Retail and manufacturing are the second- and fourth- largest revenue contributors to the $29 billion behemoth.
Last month, Walmart Inc WMT.N, Amazon.com AMZN.O, and fast-growing e-commerce sites Shein and PDD Holding's PDD.O Temu, saw record-breaking sales on Black Friday and Cyber Monday.
U.S. online spending too rose nearly 9% to $241.4 billion during the recent holiday season.
TCS' communications and media vertical, a capital-intensive segment that is currently one of the company's laggards, will also see some pickup if interest rates start to go down, Seksaria said.
The comments echo CEO Krithivasan's sentiment that the incoming U.S. administration is likely to remove policy uncertainty and boost client confidence to spend on discretionary projects.
On Friday, its Mumbai-listed shares closed up 5.6%, its highest single day rise since July 2024.
TCS also played down concerns over the rise in insourcing by multinational corporations through global capability centres (GCCs), potentially slashing work that would have been contracted to IT players in the past.
A growing number of global companies are increasing their local offices in India and expanding in-house teams, adding roles such as engineering, cybersecurity and accounting and finance. India's GCC market size is estimated to reach $105 billion by 2030.
"Initially, there could a cost advantage, probably GCCs are right now being seen as global cost saving centers. But as things go into next year, maintaining cost and delivering cost productivity in a 3-year to 7-year period is where the cyclicality of opening and shutting of GCCs keeps coming," said Seksaria.
In 2023, Infosys INFY.NS acquired the captive arm of Danske Bank DANSEN.UL and before that TCS acquired Post Bank AG's unit of 1,500 employees in late 2020.
(Reporting by Sai Ishwarbharath B in Bengaluru and Haripriya Suresh in Mumbai.
Editing by Dhanya Skariachan and Shri Navaratnam)
(([email protected];))
TCS commentary lifts Indian IT stocks to best day since early Nov
** India's IT index .NIFTYIT jumps 3.5%, only one of 13 main sub-indexes in green; benchmark indexes flat .BO
** Sub-index set for best session since Nov. 6, when Donald Trump claimed victory in US presidential race
** TCS TCS.NS, top IT firm, flags signs of discretionary spending revival
** TCS's commentary boosting sentiment after years of caution and uncertainty from bellwethers, says S Krishnakumar, director at Lion Hill Capital
** Adds US economic strength and certainty of Trump at political helm indicate higher client spending in US, a key revenue geography for IT firms
** TCS jumps 6%, leading gains on 10-member IT index
** LTIMindtree LTIM.NS follows with 5% rise; L&T Tech LTEH.NS and Coforge COFO.NS up 1.6%, the least on index
** IT index gained 22% in 2024 vs ~9% rise in benchmark Nifty 50
(Reporting by Ashna Teresa Britto and Hritam Mukherjee in Bengaluru)
(([email protected] ; ( +91 8078332441))
** India's IT index .NIFTYIT jumps 3.5%, only one of 13 main sub-indexes in green; benchmark indexes flat .BO
** Sub-index set for best session since Nov. 6, when Donald Trump claimed victory in US presidential race
** TCS TCS.NS, top IT firm, flags signs of discretionary spending revival
** TCS's commentary boosting sentiment after years of caution and uncertainty from bellwethers, says S Krishnakumar, director at Lion Hill Capital
** Adds US economic strength and certainty of Trump at political helm indicate higher client spending in US, a key revenue geography for IT firms
** TCS jumps 6%, leading gains on 10-member IT index
** LTIMindtree LTIM.NS follows with 5% rise; L&T Tech LTEH.NS and Coforge COFO.NS up 1.6%, the least on index
** IT index gained 22% in 2024 vs ~9% rise in benchmark Nifty 50
(Reporting by Ashna Teresa Britto and Hritam Mukherjee in Bengaluru)
(([email protected] ; ( +91 8078332441))
TCS Says Early Signs Of Revival In Discretionary Spend In Some Verticals
Jan 9 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS - EARLY SIGNS OF REVIVAL IN DISCRETIONARY SPEND IN SOME VERTICALS
TCS - CAMPUS HIRING FOR THE YEAR GOING ACCORDING TO PLAN
TCS - PREPARATIONS AFOOT TO ONBOARD HIGHER NUMBER OF CAMPUS HIRES NEXT YEAR
TCS - GEN AI/AI AND CLOUD SERVICES CONTINUED TO SEE SIGNIFICANT GROWTH THIS QUARTER
Further company coverage: TCS.NS
(([email protected];))
Jan 9 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS - EARLY SIGNS OF REVIVAL IN DISCRETIONARY SPEND IN SOME VERTICALS
TCS - CAMPUS HIRING FOR THE YEAR GOING ACCORDING TO PLAN
TCS - PREPARATIONS AFOOT TO ONBOARD HIGHER NUMBER OF CAMPUS HIRES NEXT YEAR
TCS - GEN AI/AI AND CLOUD SERVICES CONTINUED TO SEE SIGNIFICANT GROWTH THIS QUARTER
Further company coverage: TCS.NS
(([email protected];))
Tata Consultancy Services Receives Tax Order
Dec 27 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TATA CONSULTANCY SERVICES LTD - RECEIVES ORDER FROM JOINT COMMISSIONER, CGST NOIDA
TATA CONSULTANCY SERVICES LTD - ORDER DEMANDS TAX AND PENALTY OF 13.8 MILLION RUPEES
TATA CONSULTANCY SERVICES LTD - TO APPEAL AGAINST THE ORDER
Source text: ID:nBSE5gkBTp
Further company coverage: TCS.NS
(([email protected];;))
Dec 27 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TATA CONSULTANCY SERVICES LTD - RECEIVES ORDER FROM JOINT COMMISSIONER, CGST NOIDA
TATA CONSULTANCY SERVICES LTD - ORDER DEMANDS TAX AND PENALTY OF 13.8 MILLION RUPEES
TATA CONSULTANCY SERVICES LTD - TO APPEAL AGAINST THE ORDER
Source text: ID:nBSE5gkBTp
Further company coverage: TCS.NS
(([email protected];;))
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What does TCS do?
Tata Consultancy Services Limited is a global IT services and consulting organization with expertise in various industries. It operates in multiple continents, serving clients worldwide with its innovative location-independent agile delivery model.
Who are the competitors of TCS?
TCS major competitors are Infosys, HCL Tech., Wipro, Tech Mahindra, LTIMindtree, Persistent Systems, Oracle Finl. Service. Market Cap of TCS is ₹12,89,106 Crs. While the median market cap of its peers are ₹1,58,237 Crs.
Is TCS financially stable compared to its competitors?
TCS seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does TCS pay decent dividends?
The company seems to pay a good stable dividend. TCS latest dividend payout ratio is 93.94% and 3yr average dividend payout ratio is 83.79%
How has TCS allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable
How strong is TCS balance sheet?
Balance sheet of TCS is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of TCS improving?
Yes, profit is increasing. The profit of TCS is ₹48,553 Crs for Mar 2025, ₹45,908 Crs for Mar 2024 and ₹42,147 Crs for Mar 2023
Is the debt of TCS increasing or decreasing?
The net debt of TCS is decreasing. Latest net debt of TCS is -₹30,912 Crs as of Mar-25. This is less than Mar-24 when it was -₹26,572 Crs.
Is TCS stock expensive?
TCS is not expensive. Latest PE of TCS is 26.55, while 3 year average PE is 32.33. Also latest EV/EBITDA of TCS is 18.89 while 3yr average is 22.65.
Has the share price of TCS grown faster than its competition?
TCS has given lower returns compared to its competitors. TCS has grown at ~13.78% over the last 8yrs while peers have grown at a median rate of 18.27%
Is the promoter bullish about TCS?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in TCS is 71.77% and last quarter promoter holding is 71.77%.
Are mutual funds buying/selling TCS?
The mutual fund holding of TCS is increasing. The current mutual fund holding in TCS is 5.0% while previous quarter holding is 4.32%.