HCLTECH

By Haripriya Suresh and Bharath Rajeswaran

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

((haripriya.suresh@thomsonreuters.com))

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

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

Source text: ID:nBSE2lKwLH

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

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

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

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

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

Source text: ID:nBSE9TN25B

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;;))

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

• ANNOUNCES EXPANDED COLLABORATION WITH GOOGLE CLOUD

• HCLTECH ANNOUNCES EXPANDED COLLABORATION WITH GOOGLE CLOUD

Source text: ID:nBSE2Zp0bj

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Bharath Rajeswaran

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

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

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

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

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

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

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

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

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

That fragility is already showing.

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

($1 = 91.6750 indian rupees)

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

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

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

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

Source text: ID:nBSE1YQDDY

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Bharath Rajeswaran

Feb 25 (Reuters) - Indian shares have lagged their Asian and emerging market peers so far in February, pressured by a $68.6 billion rout in the market value of information technology stocks, as investors fretted over disruptions linked to artificial intelligence.

The Nifty 50 index .NSEI has risen 0.4% so far this month, while the Sensex .BSESN edged 0.1% lower, underperforming both the MSCI Asia ex-Japan and MSCI Emerging Markets indexes.

The 10 Nifty IT constituents .NIFTYIT have lost a combined $68.6 billion in market capitalisation in February, as of the last close, with the index down 21% and on course for its worst monthly performance in nearly 23 years.

All 10 index members have fallen between 16.8% and 27% in February to date. Coforge COFO.NS is the steepest percentage decliner, down 26.8%, while Tata Consultancy Services TCS.NS and Infosys INFY.NS have led the value erosion, losing about $21.9 billion and $16.3 billion in market value, respectively.

The selloff reflects growing concerns that rapidly advancing automation tools could compress project timelines and disrupt the labour-intensive delivery model underpinning India's roughly $300-billion IT services industry.

Investors have zeroed in on the AI-driven automation push from U.S. firms such as Anthropic and Palantir, heightening concerns over faster project execution, pricing pressure and reduced billable hours.

Brokerages warn the Indian IT sector could face further pressure if AI starts to eat into application services revenue, which typically accounts for 40% to 70% of total revenue for these companies.

"There are no easy answers to whether AI eventually renders IT services obsolete over the long term," said analysts led by Abhishek Pathak of Motilal Oswal.

"The narrative that AI is coming for not just IT but large swathes of the economy could be too strong to shake, at least in the short term," Motilal Oswal analysts said.

A slowdown or contraction in India's IT sector, whether through layoffs or reduced hiring, can have immediate consequences on both residential and commercial real estate demand. The Nifty Realty index .NIFTYREAL has risen roughly 2% in February, following a nearly 18% decline over the past three months.

Concerns over Indian IT companies have also accelerated foreign selling in the sector in 2026 so far.

While FPIs have turned buyers of Indian stocks in February on an overall basis, they pulled out about 110 billion rupees ($1.21 billion) from IT stocks in the first half of February, following a record 750 billion rupees of net selling in 2025.

($1 = 90.8980 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow 6.1% this fiscal year, driven by artificial intelligence-led services as well as business at global capacity centres, an industry body said on Tuesday.

Nasscom expects the sector's revenue to rise past $300 billion in fiscal year 2026.

(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Mrigank Dhaniwala)

((mailto: saiishwarbharath.b@thomsonreuters.com;))

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

• HCLTECH- UNVEILS VISIONX 2.0, A NEXT-GEN MULTI-MODAL AI EDGE PLATFORM WITH NVIDIA

Source text: ID:nBSE6f6pd

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

Feb 13 (Reuters) - Shares of India's software exporters fell 4.6% on Friday, dragged by a global tech sell-off, putting the stocks on track for their worst week since March 2020.

The Nifty IT index .NIFTYIT was the worst-performing sector on the day and remains the weakest so far this year, after sliding 12.6% in 2025 and a further 16.8% in 2026.

Indian IT stocks have been under pressure over the last few weeks amid fears of an AI-led disruption to the sector.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))

Updates share levels throughout, stock milestone in headline and paragraph 1, analyst comment in paragraphs 6-7

By Nandan Mandayam

Feb 12 (Reuters) - Shares of Indian software exporters slid over 5% on Thursday, pushing the Nifty IT index to a near 10-month low, as persistent fears of AI-led disruption and fading hopes of a near-term Federal Reserve rate cut weighed on sentiment.

The 10-member .NIFTYIT index was the worst-performing sector on the day and remains the weakest so far this year, after sliding 12.6% in 2025 and a further 12.2% in 2026.

Tata Consultancy Services TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS fell 5.5%, 5.7%, and 4.1%, respectively, on the day.

The launch of Amazon AMZN.O and Google GOOGL.O-backed Anthropic's Claude Cowork AI tool to automate tasks, pressured tech stocks globally last week and stoked concerns over demand for labour-intensive Indian IT services.

Domestic IT stocks have shed 14% since February 4 when the selloff began, resulting in TCS - previously India's fourth-most valuable stock - sliding to sixth place.

"The sell-off we have seen in IT stocks due to the AI models that have been launched in recent weeks is overdone," said Systematix Group analyst Ambrish Shah.

"The models currently still require human intervention and regulated verticals such as banking, financial services, and insurance are likely to be more insulated from the AI disruption."

Indian tech stocks have been battered the most, while peers in Asia, Europe and North America have recovered slightly.

Adding to the pressure on Indian IT stocks, hopes of a Fed rate cut faded after U.S. job growth unexpectedly accelerated in January and the unemployment rate fell, bolstering bets that interest rates may stay higher for longer.

That weighed on IT shares, which derive a significant portion of revenue from the United States. Lower U.S. rates could lift demand for IT spending that has largely been muted for the last few years.

The slump in IT stocks also dragged India's benchmarks lower on Thursday, with the Nifty 50 .NSEI down 0.44% and BSE Sensex .BSESN down 0.5%.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema and Nivedita Bhattacharjee)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

AI LEARNS THE LAW, MARKETS LEARN TO WORRY

Anthropic's new legal tool for Claude AI not only rattled AI-bubble nerves but also cast a shadow over global economies heavily reliant on the export of telecommunications, computer, and information services (ICT), according to Standard Chartered.

For Ireland and India - economies particularly exposed to potential software export slowdown, even a 10% reduction in exports could lower their GDP growth by 1 percentage point each, Standard Chartered said in a note.

"Even a smaller share of the workforce in impacted sectors would translate into significant absolute layoffs for the more populous EM economies like India (where about 5.5 million people are employed in the ICT sector)," said Madhur Jha, global economist and head of thematic research at Standard Chartered.

Top software exporters Tata Consultancy Services TCS.NS, Infosys INFY.NS, HCLTech HCLT.NS, and Tech Mahindra TEML.NS lost between 5.8% and 8.1% last week at the peak of the selloff.

U.S. AI developer Anthropic launched plug-ins for its Claude Cowork agent that would automate tasks across legal, sales, marketing and data analysis.

The launch revived fears that increasingly capable AI tools could dent demand for traditional software, compress margins and cost jobs, triggering a deep selloff in global software stocks.

The S&P 500 software and services index .SPLRCIS has fallen 7.5% as of last week and has seen around $1 trillion in market value evaporate since January 28.

(Kanchana Chakravarty)

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Feb 6 (Reuters) - HCL Technologies Ltd HCLT.NS:

• HCLTECH - CO PARTNERS WITH CIRCLES FOR CONNECTIVITY SOLUTIONS

Source text: ID:nNSE3kt9nf

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

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)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

Jan 29 (Reuters) - HCL Technologies Ltd HCLT.NS:

• HCLTECH - HCLTECH AND GUARDIAN PARTNER

• HCLTECH - HCLTECH AND GUARDIAN SIGN MULTI-YEAR PARTNERSHIP

Source text: ID:nBSE17mm8P

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

Jan 27 (Reuters) - HCL Technologies Ltd HCLT.NS:

• WESTERN UNION AND HCLTECH EXPAND GLOBAL CAPABILITY CENTER TO HYDERABAD

• WESTERN UNION AND HCLTECH TO ACCELERATE ADVANCED AI AND PLATFORM OPERATING MODE

Source text: ID:nBSE3MHPwC

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

Jan 21 (Reuters) - India's Tata Communications TATA.NS reported its first profit rise in three quarters on Wednesday, on strong demand for its cloud services and connectivity solutions.

The company also picked Ganesh Lakshminarayanan as managing director and chief executive officer-designate. He will be appointed once regulatory approvals are in place.

Lakshminarayanan is managing director and group vice president for ServiceNow in India and the South Asian Association for Regional Cooperation (SAARC) region, the firm said in a statement.

The Mumbai-based Tata Communications, which offers data connections and cybersecurity to enterprises, said its profit jumped 54.3% on-year to 3.65 billion rupees ($39.8 million) for the three months ended December 31.

Revenue from its mainstay data services business jumped 9.4% to 53.8 billion rupees, boosting overall revenue 6.7% to 61.89 billion rupees.

Tata Communications aims to grow its data business revenue to 280 billion rupees by fiscal year 2028, driven by digital services that it expects will boost future revenue and margins.

It has been reducing its reliance on legacy network services, which continue to face pricing pressure and operational disruptions, while investing in digital infrastructure businesses such as cloud connectivity, cybersecurity, Internet of Things and communication platforms.

The firm also recorded a provision of 609.8 million rupees in the quarter after India notified new labour codes, the country's biggest overhaul of workers' laws in decades.

The codes require employee wages to be at least 50% of cost-to-company, and benefits like provident funds and gratuity to be determined based on wages.

Implemented in November, the new codes have dragged the profit of Indian big tech firms, including Wipro WIPR.NS, TCS TCS.NS and HCLTech HCLT.NS.

($1 = 91.6910 Indian rupees)

(Reporting by Aleef Jahan and Mridula Kumar in Bengaluru; Editing by Harikrishnan Nair)

((aleefjahan.cs@thomsonreuters.com))

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

• HCLTECH AND CARAHSOFT PARTNER

Source text: ID:nnAZN4S1IPQ

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;;))

Adds details on deal wins in paragraph 5, analyst comment in paragraph 6

BENGALURU, Jan 19 (Reuters) - India's LTIMindtree LTIM.NS reported an 8.3% fall in third-quarter profit on Monday, hit by a one-off impact from newly enacted labour codes.

Net profit at the country's sixth-largest IT firm fell to 9.71 billion rupees ($106.76 million) in the three months ended December 31, mainly on account of charges of about 5.9 billion rupees linked to new labour regulations.

Implemented in November, the new codes - India's biggest overhaul of workers' laws in decades - have dragged the profit of firms in India's manpower-heavy IT sector, including that of Wipro WIPR.NS, TCS TCS.NS and HCLTech HCLT.NS.

LTIMindtree's revenue rose 11.6% to 107.81 billion rupees, in line with estimates of 107.31 billion

Its total order bookings stood at a record $1.69 billion, surpassing the year ago quarter's $1.68 billion. Reuters had reported that the company won its largest-ever deal , pegged at $580 million, in October.

"The numbers look good in terms of margins, revenue and hiring as well. The company has managed weakness from top-5 clients from growing in other areas and rest of the clients," said Karan Uppal, lead analyst at Phillip Capital.

Revenue in the banking, financial services and insurance (BFSI) sector, which accounts for about one-third of its overall revenue, grew 2.3%.

Its consumer unit rose 14.6%, the most among the five business segments.

Last week, larger rival Infosys signaled a healthy demand outlook, especially in the core financial services segment.

($1 = 90.9120 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman)

((saiishwarbharath.b@thomsonreuters.com;))

BENGALURU, Jan 16 (Reuters) - Indian software services provider Tech Mahindra TEML.NS reported larger-than-expected third-quarter revenue on Friday, aided by a pickup in the banking and manufacturing segments.

Revenue at India's fifth-largest IT firm rose 8.3% to 143.93 billion rupees ($1.58 billion) in the three months ended December 31. Analysts, on average, expected revenue of 141.58 billion rupees, according to data compiled by LSEG.

($1 = 90.8340 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Sonia Cheema)

((saiishwarbharath.b@thomsonreuters.com;))

** India's HCL Technologies shares HCLT.NS slip 0.8%

** Stock top loser on Nifty IT index .NIFTYIT, which is flat

** Co posts quarterly revenue above estimates, narrows annual rev growth forecast to 4%-4.5%

** Revised FY26 outlook "unimpressive"; signals weak Q4, says brokerage CLSA ("hold", TP 1,661 rupees)

** Co's FY26 earnings growth likely to flatline, says J.P. Morgan ("neutral", TP 1690 rupees)

** Adds, HCLT's services margins remain soft, signalling deals are being won at lower margins than peers'

** Co has likely lost the right to claim best earnings growth thanks to margin challenges in its services business - J.P. Morgan

** HCLT has fallen 15% in 2025 compared to NIFTYIT's 12.6% drop

(Reporting by Hritam Mukherjee and Komal Salecha in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))

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

• TO PARTNER WITH MAGNUM ICE CREAM COMPANY TO MODERNIZE ITS DIGITAL FOUNDATION

Source text: ID:nBSE6KNK9t

Further company coverage: HCLT.NSMICCT.AS

((Reutersbriefs@thomsonreuters.com;))

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)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

Oct 29 (Reuters) - HCL Technologies HCLT.NS:

• HCLTECH AND TALENTS OF ENDEARMENT TO LAUNCH AI-POWERED LEARNING FRAMEWORK

Source text: ID:nNSE4cQLvS

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

Adds details

BENGALURU, Oct 16 (Reuters) - India's Wipro WIPR.NS reported stronger-than-expected second-quarter revenue on Thursday, driven by strong growth in Asia and Americas communications businesses and forecast revenue for the current quarter to be in line with some analysts' estimates.

The country's fourth-largest IT services firm posted a 1.8% rise year-on-year in consolidated revenue to 226.97 billion rupees ($2.58 billion) for the July-September quarter, topping analysts' estimate of 226.90 billion rupees, per data compiled by LSEG.
The company expects a 0.5% decline to 1.5% revenue growth for the third quarter, in line with expectations from brokerage Kotak Institutional Equities.

That implies revenue will be in the range of $2.59 billion to $2.64 billion.

Net profit rose 1.2% to 32.46 billion rupees for the quarter, below analysts' estimate of 33.01 billion rupees.

Three of the four markets grew led by Asia Pacific's 3.1% and Americas One's 0.5% growth.

The Bengaluru-based IT firm benefited from large contracts, including a $500 million-plus deal each with Phoenix Group PHNX.L and a U.S.-based telecom provider, making it the only top-five Indian IT company to secure two such mega deals this fiscal year.

Earlier this month, peers Tata Consultancy Services TCS.NS and HCLTech HCLT.NS beat revenue forecasts and flagged stronger demand in the second half of the year.

Wipro's total deal bookings came in at $4.69 billion, down from $5 billion in the prior quarter but up from $3.6 billion a year earlier.

($1 = 87.8610 Indian rupees)

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

((saiishwarbharath.b@thomsonreuters.com;))

Oct 14 (Reuters) - HCL Technologies HCLT.NS:

• HCLTECH PARTNERS WITH GSMA

• PARTNERS WITH GSMA TO ACCELERATE TELECOM INNOVATION THROUGH GSMA OPEN GATEWAY INITIATIVE

Source text: ID:nBSE3D0P6v

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))

Recasts headline and lede; adds CEO comments in paragraphs 3, 5 and 6

By Sai Ishwarbharath B and Haripriya Suresh

BENGALURU, Oct 13 (Reuters) - India's No.3 software-services exporter HCLTech HCLT.NS maintained its annual revenue growth forecast of 3%-5% despite macroeconomic uncertainty, after beating second-quarter revenue estimates on strength in its engineering services segment.

Monday's news came after industry leader Tata Consultancy Services TCS.NS last week also forecast better growth in the back half of the year, raising hopes for India's $283 billion IT sector that has seen muted demand from the U.S. as clients curtailed discretionary spending amid tariff-related uncertainty.

"In the last few weeks, our pipeline and bookings have increased," CEO C Vijayakumar said in a conference call, adding that he expected "good bookings in the coming quarter as well".

HCLTech's new deal bookings stood at $2.57 billion in the second quarter, up from $1.81 billion in the previous quarter and $2.2 billion in the year-ago period.

What used to be discretionary spending by clients is becoming essential in some cases, driven by M&A and carve-outs, the CEO said.

Demand from clients in financial services and technology segments has also improved from the first quarter, he said.

HCLTech's consolidated revenue rose 10.7% to 319.42 billion rupees ($3.60 billion) in the second quarter, beating the analysts' average estimate of 313.55 billion rupees, data compiled by LSEG showed. Its engineering segment, which gained from a Volvo Cars [RIC:RIC:VOLVO.UL] deal, grew its revenue by 13.4%.

Jefferies analysts called the numbers an "all-round" beat and said the annual revenue growth, if achieved, would be the highest among the five largest Indian IT firms.

"Though the forecast has been retained, there are very few downside risks for HCLTech at the moment," Centrum Broking analyst Piyush Pandey said.

Quarterly profit was 42.35 billion rupees, while analysts expected 42.39 billion rupees.

Peers Infosys INFY.NS, Wipro WIPR.NS and LTIMindtree LTIM.NS will report their results later this week.

($1 = 88.6820 Indian rupees)

(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Sonia Cheema, Sahal Muhammed and Dhanya Skariachan)

((saiishwarbharath.b@thomsonreuters.com;))

** HCLTech HCLT.NS rises as much as 1% to 1,444 rupees; last up 0.6%

** HCLT only stock in green on 10-member Nifty IT index .NIFTYIT, which is down 0.9%

** A Swedish truck and bus maker renews deal with co, signing multi-year contract for IT infrastructure, services

** No financial details disclosed

** Morgan Stanley says deal will likely aid co's total contract wins in Q2, boost confidence for HY2 FY26, build revenues on top of co's existing base

** Adds deal reaffirms co's ability to maintain scope in large deal renewals, signals improvement in co's market share

** Stock rated "hold" on avg, median PT is 1,670 rupees, per data compiled by LSEG

** YTD, HCLT falls ~25%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

Sept 23 (Reuters) - HCL Technologies Ltd HCLT.NS:

• VEHICLE MANUFACTURER SELECTS CO FOR AI-POWERED DIGITAL FOUNDATION SERVICES

Further company coverage: HCLT.NS

((Reuters.Briefs@thomsonreuters.com;))