HCL Technologies
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Sept 17 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - ANNOUNCES LAUNCH OF HCLTECH PULSE BUSINESS UNIT
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
Sept 17 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - ANNOUNCES LAUNCH OF HCLTECH PULSE BUSINESS UNIT
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
AI executives call for a slower pace of development
Shares of software companies rise globally
HCL Tech, Infosys and TCS among top Indian IT gainers
Adds analyst comment in paragraphs 4,5
By Urvi Dugar
Sept 15 (Reuters) - Indian IT stocks .NIFTYIT surged as much as 5.2% on Tuesday, tracking gains in global software shares, after AI executives called for a slower pace of development amid concerns over the technology's risks.
Shares of software companies globally have been battered by concerns that AI could make parts of their business obsolete. India's $315 billion IT industry is seen as especially vulnerable because of its reliance on billable hours, leaving IT stocks among the market's worst performers over the past year.
The IT index was set for its best session since July 2. It has fallen about 21% this year, more than twice the decline of the benchmark Nifty 50 index .NSEI.
A slower pace of AI development could give Indian IT firms more time to adapt to new models and manage their costs, rather than continually spending to keep pace with the rapidly evolving technology, said Piyush Pandey, an analyst at Centrum Broking.
"Faster AI development increases uncertainty for enterprises," Pandey said, adding that Tuesday's gains were a tactical bounce rather than a sign of a fundamental improvement in the sector's outlook.
HCLTech HCLT.NS led gains on the index on Tuesday, climbing 6.21% after eight straight sessions of declines. Infosys INFY.NS and TCS TCS.NS rose 4.72% and 4.76%, respectively.
The rally comes after Anthropic CEO Dario Amodei called on AI companies to slow the rate at which they advance model capabilities after mounting fears that the technology could be misused. Both Elon Musk, who runs xAI, and OpenAI CEO Sam Altman said they agree with Amodei.
Alarm about the potential harm from AI intensified earlier this month when Anthropic researcher Jacob Coxon resigned, saying AI companies are "gambling with our lives."
Indian IT outsourcing companies including Tata Consultancy Services TCS.NS, Infosys INFY.NS, Wipro WIPR.NS and HCLTech HCLT.NS have been rejigging their business models in response to AI-led disruption, increasingly tying fees to performance outcomes instead of hours worked, as clients demand steep price cuts and more productivity.
(Reporting by Urvi Dugar in Bengaluru; Editing by Abinaya V and Sonia Cheema)
(([email protected]; +91 9558725583;))
AI executives call for a slower pace of development
Shares of software companies rise globally
HCL Tech, Infosys and TCS among top Indian IT gainers
Adds analyst comment in paragraphs 4,5
By Urvi Dugar
Sept 15 (Reuters) - Indian IT stocks .NIFTYIT surged as much as 5.2% on Tuesday, tracking gains in global software shares, after AI executives called for a slower pace of development amid concerns over the technology's risks.
Shares of software companies globally have been battered by concerns that AI could make parts of their business obsolete. India's $315 billion IT industry is seen as especially vulnerable because of its reliance on billable hours, leaving IT stocks among the market's worst performers over the past year.
The IT index was set for its best session since July 2. It has fallen about 21% this year, more than twice the decline of the benchmark Nifty 50 index .NSEI.
A slower pace of AI development could give Indian IT firms more time to adapt to new models and manage their costs, rather than continually spending to keep pace with the rapidly evolving technology, said Piyush Pandey, an analyst at Centrum Broking.
"Faster AI development increases uncertainty for enterprises," Pandey said, adding that Tuesday's gains were a tactical bounce rather than a sign of a fundamental improvement in the sector's outlook.
HCLTech HCLT.NS led gains on the index on Tuesday, climbing 6.21% after eight straight sessions of declines. Infosys INFY.NS and TCS TCS.NS rose 4.72% and 4.76%, respectively.
The rally comes after Anthropic CEO Dario Amodei called on AI companies to slow the rate at which they advance model capabilities after mounting fears that the technology could be misused. Both Elon Musk, who runs xAI, and OpenAI CEO Sam Altman said they agree with Amodei.
Alarm about the potential harm from AI intensified earlier this month when Anthropic researcher Jacob Coxon resigned, saying AI companies are "gambling with our lives."
Indian IT outsourcing companies including Tata Consultancy Services TCS.NS, Infosys INFY.NS, Wipro WIPR.NS and HCLTech HCLT.NS have been rejigging their business models in response to AI-led disruption, increasingly tying fees to performance outcomes instead of hours worked, as clients demand steep price cuts and more productivity.
(Reporting by Urvi Dugar in Bengaluru; Editing by Abinaya V and Sonia Cheema)
(([email protected]; +91 9558725583;))
Sept 14 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH AND CROWDSTRIKE EXPAND STRATEGIC PARTNERSHIP
PARTNERSHIP TO ADVANCE AI SECURITY
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];;))
Sept 14 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH AND CROWDSTRIKE EXPAND STRATEGIC PARTNERSHIP
PARTNERSHIP TO ADVANCE AI SECURITY
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];;))
Sept 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES ADVANCED SEMICONDUCTOR LAB WITH 1.85 BILLION RUPEES INVESTMENT
HCLTECH - LAUNCHES SEMICONDUCTOR LAB IN BENGALURU
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];;))
Sept 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES ADVANCED SEMICONDUCTOR LAB WITH 1.85 BILLION RUPEES INVESTMENT
HCLTECH - LAUNCHES SEMICONDUCTOR LAB IN BENGALURU
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];;))
Sept 3 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH AND TRANSPORT FOR NSW TO EXPLORE AI-POWERED TRAFFIC INSIGHTS FOR INDIA
Further company coverage: HCLT.NS
(([email protected];;))
Sept 3 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH AND TRANSPORT FOR NSW TO EXPLORE AI-POWERED TRAFFIC INSIGHTS FOR INDIA
Further company coverage: HCLT.NS
(([email protected];;))
Aug 27 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - WACKER ESTABLISHES GLOBAL CAPABILITY CENTER IN INDIA WITH HCLTECH
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
Aug 27 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - WACKER ESTABLISHES GLOBAL CAPABILITY CENTER IN INDIA WITH HCLTECH
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
- Prudential entered India’s health insurance market via a 70:30 joint venture with HCL Group, branded Prudential Health India.
- The standalone health insurer began operations on Aug. 20, 2026, targeting a market with about USD 16 billion gross written premiums in FY 2026.
- Prudential holds 70% of the venture, positioning the group to deepen its India footprint alongside existing life insurance operations.
- The venture will use an omnichannel model, combining an agency network with an AI-enabled direct-to-consumer platform.
- Prudential Health India will offer access to a network of more than 12,000 hospitals.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Prudential plc published the original content used to generate this news brief on August 20, 2026, and is solely responsible for the information contained therein.
- Prudential entered India’s health insurance market via a 70:30 joint venture with HCL Group, branded Prudential Health India.
- The standalone health insurer began operations on Aug. 20, 2026, targeting a market with about USD 16 billion gross written premiums in FY 2026.
- Prudential holds 70% of the venture, positioning the group to deepen its India footprint alongside existing life insurance operations.
- The venture will use an omnichannel model, combining an agency network with an AI-enabled direct-to-consumer platform.
- Prudential Health India will offer access to a network of more than 12,000 hospitals.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Prudential plc published the original content used to generate this news brief on August 20, 2026, and is solely responsible for the information contained therein.
Aug 13 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND NETAPP EXPAND PARTNERSHIP
HCLTECH - EXPANDED PARTNERSHIP FOR HYBRID CLOUD STORAGE-AS-A-SERVICE FOR ENTERPRISE AI ADOPTION
Further company coverage: HCLT.NS
(([email protected];))
Aug 13 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND NETAPP EXPAND PARTNERSHIP
HCLTECH - EXPANDED PARTNERSHIP FOR HYBRID CLOUD STORAGE-AS-A-SERVICE FOR ENTERPRISE AI ADOPTION
Further company coverage: HCLT.NS
(([email protected];))
HCLTech was named an OpenAI Advanced Partner within the OpenAI Partner Network, joining the global systems integrators selected to build, sell and deliver enterprise AI solutions with OpenAI. The partnership covered the deployment of OpenAI models, including GPT-5.6 and ChatGPT Work, while HCLTech's AI Force platform was integrated with OpenAI models. IT and business services accounted for about 74% of HCLTech's revenue, with a growing share attributed to AI-led digital transformation, and the company launched AI Force in FY24. HCLTech had more than 223,000 employees across 60 countries and reported consolidated revenue of $14.8bn for the 12 months ended June 2026.
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HCLTech was named an OpenAI Advanced Partner within the OpenAI Partner Network, joining the global systems integrators selected to build, sell and deliver enterprise AI solutions with OpenAI. The partnership covered the deployment of OpenAI models, including GPT-5.6 and ChatGPT Work, while HCLTech's AI Force platform was integrated with OpenAI models. IT and business services accounted for about 74% of HCLTech's revenue, with a growing share attributed to AI-led digital transformation, and the company launched AI Force in FY24. HCLTech had more than 223,000 employees across 60 countries and reported consolidated revenue of $14.8bn for the 12 months ended June 2026.
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Aug 3 (Reuters) - HCL Technologies Ltd HCLT.NS:
COMPLETES ACQUISITION OF HPE’S TELCO SOLUTIONS BUSINESS
Further company coverage: HCLT.NS
(([email protected];;))
Aug 3 (Reuters) - HCL Technologies Ltd HCLT.NS:
COMPLETES ACQUISITION OF HPE’S TELCO SOLUTIONS BUSINESS
Further company coverage: HCLT.NS
(([email protected];;))
July 24 (Reuters) - India's HCLTech HCLT.NS on Friday said it would set up its first AI data center for 142.57 billion rupees ($1.48 billion) in the eastern state of Odisha in partnership with startup Sarvam AI.
The investment would include financial assistance from the state government, it added.
($1 = 96.5425 Indian rupees)
(Reporting by Abhirami G in Bengaluru; Editing by Sonia Cheema)
July 24 (Reuters) - India's HCLTech HCLT.NS on Friday said it would set up its first AI data center for 142.57 billion rupees ($1.48 billion) in the eastern state of Odisha in partnership with startup Sarvam AI.
The investment would include financial assistance from the state government, it added.
($1 = 96.5425 Indian rupees)
(Reporting by Abhirami G in Bengaluru; Editing by Sonia Cheema)
Forecast cut reflects more demand pressure, analyst says
AI revenue up 8.2% versus 5.5% in December quarter
U.S.-listed shares down 5% in early trading
Adds details of CEO transition, more analyst comments, background, shares and graphic
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 23 (Reuters) - Infosys INFY.NS named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India's No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.
The succession plan was announced alongside a cut to the company's annual revenue growth forecast, sending its U.S.-listed shares down 5% in early trading.
Dash, who heads the company's energy and utilities business, will take over in April 2027 for a five-year term after Salil Parekh steps down at the end of his tenure in March, the company said.
The appointment comes as India's $315 billion IT sector wrestles with the impact of AI on technology spending and traditional outsourcing models.
"Ashiss Kumar Dash is a safe, execution-focused appointment at a time when Infosys needs stability as much as transformation," said Phil Fersht, CEO of tech research firm HFS Research.
"He understands the firm's culture, clients, and delivery engine, which should reassure customers and investors after a period of uncertainty."
Nandan Nilekani, the co-founder and non-executive chairman of Infosys, said Dash's long career at the firm had given him experience across key functions, including delivery, sales and account management, making him well-suited for the top role.
Dash will return from Los Angeles to India in the coming months and begin a structured handover process, with Parekh expected to mentor him from October as part of the transition.
NARROWS REVENUE GROWTH FORECAST
The Bengaluru-based firm narrowed its fiscal 2027 revenue growth forecast to 1.5%-3.0% from 1.5%-3.5%, citing cautious client spending amid AI-driven disruption. Analysts had expected growth of 2.5%-4.5%.
Parekh said the forecast's upper end reflected expectations of a stronger macroeconomic environment, which have yet to materialise.
StoxBox analyst Sagar Shetty said the forecast downgrade likely reflects a more pressuring environment going forward.
Revenue in the quarter rose 14% to 482.11 billion rupees ($4.99 billion), missing analysts' average estimate of 483.67 billion rupees, according to data compiled by LSEG. Net profit rose 12.2% to 77.69 billion rupees, while analysts expected 78.32 billion rupees.
Rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS beat quarterly estimates earlier, aided by strong financial services demand and a weaker currency.
AI services accounted for 8.2% of Infosys' revenue, compared with 5.5% in the December quarter.
Large deal bookings were $3.6 billion in the quarter, up from $3.2 billion in the previous quarter but down from $3.8 billion a year earlier.
($1 = 96.5725 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Additional reporting by Mridula Kumar, Surbhi Misra and Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Devika Syamnath)
(([email protected];))
Forecast cut reflects more demand pressure, analyst says
AI revenue up 8.2% versus 5.5% in December quarter
U.S.-listed shares down 5% in early trading
Adds details of CEO transition, more analyst comments, background, shares and graphic
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, July 23 (Reuters) - Infosys INFY.NS named company veteran Ashiss Kumar Dash as its next CEO on Thursday, tapping a three-decade insider to lead India's No. 2 IT firm through an AI-driven upheaval reshaping the technology services industry.
The succession plan was announced alongside a cut to the company's annual revenue growth forecast, sending its U.S.-listed shares down 5% in early trading.
Dash, who heads the company's energy and utilities business, will take over in April 2027 for a five-year term after Salil Parekh steps down at the end of his tenure in March, the company said.
The appointment comes as India's $315 billion IT sector wrestles with the impact of AI on technology spending and traditional outsourcing models.
"Ashiss Kumar Dash is a safe, execution-focused appointment at a time when Infosys needs stability as much as transformation," said Phil Fersht, CEO of tech research firm HFS Research.
"He understands the firm's culture, clients, and delivery engine, which should reassure customers and investors after a period of uncertainty."
Nandan Nilekani, the co-founder and non-executive chairman of Infosys, said Dash's long career at the firm had given him experience across key functions, including delivery, sales and account management, making him well-suited for the top role.
Dash will return from Los Angeles to India in the coming months and begin a structured handover process, with Parekh expected to mentor him from October as part of the transition.
NARROWS REVENUE GROWTH FORECAST
The Bengaluru-based firm narrowed its fiscal 2027 revenue growth forecast to 1.5%-3.0% from 1.5%-3.5%, citing cautious client spending amid AI-driven disruption. Analysts had expected growth of 2.5%-4.5%.
Parekh said the forecast's upper end reflected expectations of a stronger macroeconomic environment, which have yet to materialise.
StoxBox analyst Sagar Shetty said the forecast downgrade likely reflects a more pressuring environment going forward.
Revenue in the quarter rose 14% to 482.11 billion rupees ($4.99 billion), missing analysts' average estimate of 483.67 billion rupees, according to data compiled by LSEG. Net profit rose 12.2% to 77.69 billion rupees, while analysts expected 78.32 billion rupees.
Rivals Tata Consultancy Services TCS.NS and HCLTech HCLT.NS beat quarterly estimates earlier, aided by strong financial services demand and a weaker currency.
AI services accounted for 8.2% of Infosys' revenue, compared with 5.5% in the December quarter.
Large deal bookings were $3.6 billion in the quarter, up from $3.2 billion in the previous quarter but down from $3.8 billion a year earlier.
($1 = 96.5725 Indian rupees)
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Additional reporting by Mridula Kumar, Surbhi Misra and Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Devika Syamnath)
(([email protected];))
BENGALURU, July 21 (Reuters) - India's Odisha state on Tuesday approved 23 industrial projects worth 45.74 billion rupees ($475.29 million) in investment by companies across sectors including information technology, textiles, pharmaceuticals and chemicals.
The projects will be established across 11 districts by companies, including HCLTech HCLT.NS and Tata Steel TISC.NS, it added.
Here are some key details:
HCLTech will invest 7.30 billion rupees for a global development centre offering IT services, which is expected to generate 6,000 jobs.
Tata Steel will invest 1.65 billion rupees in a railway siding for a dedicated rail freight facility, with the project expected to create 250 jobs.
ACME Cleantech Solutions will establish a 7.78-billion-rupee alkaline electrolyser manufacturing unit with a production capacity of up to 3 gigawatts (GW) per annum.
The 23 projects are expected to create 22,873 jobs, the state government added.
($1 = 96.2350 Indian rupees)
(Reporting by Nishit Navin; Editing by Leroy Leo)
(([email protected];))
BENGALURU, July 21 (Reuters) - India's Odisha state on Tuesday approved 23 industrial projects worth 45.74 billion rupees ($475.29 million) in investment by companies across sectors including information technology, textiles, pharmaceuticals and chemicals.
The projects will be established across 11 districts by companies, including HCLTech HCLT.NS and Tata Steel TISC.NS, it added.
Here are some key details:
HCLTech will invest 7.30 billion rupees for a global development centre offering IT services, which is expected to generate 6,000 jobs.
Tata Steel will invest 1.65 billion rupees in a railway siding for a dedicated rail freight facility, with the project expected to create 250 jobs.
ACME Cleantech Solutions will establish a 7.78-billion-rupee alkaline electrolyser manufacturing unit with a production capacity of up to 3 gigawatts (GW) per annum.
The 23 projects are expected to create 22,873 jobs, the state government added.
($1 = 96.2350 Indian rupees)
(Reporting by Nishit Navin; Editing by Leroy Leo)
(([email protected];))
Adds details paragraph 3 onwards
BENGALURU, July 16 (Reuters) - Indian software services provider Tech Mahindra's TEML.NS first-quarter revenue beat expectations on Thursday, with growth in the firm's manufacturing segment and a weak rupee helping the topline.
Revenue at India's fifth-largest IT firm rose 17.7% year-on-year to 157.12 billion rupees ($1.63 billion) in the three months ended June 30. Analysts, on average, expected revenue of 154.76 billion rupees, according to data compiled by LSEG.
The company received an additional lift from the rupee's roughly 9% depreciation against the dollar over the past 12 months, as Indian IT firms typically bill overseas clients in foreign currencies while bearing most of their costs in rupees.
The firm reported 28.5% year-on-year rise in profit in the quarter at 14.65 billion rupees, missing estimates of 15.63 billion rupees.
The communications division's revenue, which accounts for a third of the Pune-based company's total, rose 1.3%, while revenue at its manufacturing division - its second-largest, expanded 17.2% year-on-year.
Tech Mahindra's net new order bookings rose to $1.08 billion from $809 million a year earlier. The firm announced partnerships with Telefonica Germany, Microsoft MSFT.O and robotics platform Viam during the quarter.
Last week, larger peers Tata Consultancy Services TCS.NS and HCLTech HCLT.NS first-quarter results surpassed street expectations on account of strong tech spending among financial services clients.
Tech Mahindra shares closed 1.13% higher ahead of the results.
($1 = 96.3450 Indian rupees)
(Reporting by Sai Ishwarbharath B and Surbhi Misra; Editing by Harikrishnan Nair)
(([email protected]; || [email protected]))
Adds details paragraph 3 onwards
BENGALURU, July 16 (Reuters) - Indian software services provider Tech Mahindra's TEML.NS first-quarter revenue beat expectations on Thursday, with growth in the firm's manufacturing segment and a weak rupee helping the topline.
Revenue at India's fifth-largest IT firm rose 17.7% year-on-year to 157.12 billion rupees ($1.63 billion) in the three months ended June 30. Analysts, on average, expected revenue of 154.76 billion rupees, according to data compiled by LSEG.
The company received an additional lift from the rupee's roughly 9% depreciation against the dollar over the past 12 months, as Indian IT firms typically bill overseas clients in foreign currencies while bearing most of their costs in rupees.
The firm reported 28.5% year-on-year rise in profit in the quarter at 14.65 billion rupees, missing estimates of 15.63 billion rupees.
The communications division's revenue, which accounts for a third of the Pune-based company's total, rose 1.3%, while revenue at its manufacturing division - its second-largest, expanded 17.2% year-on-year.
Tech Mahindra's net new order bookings rose to $1.08 billion from $809 million a year earlier. The firm announced partnerships with Telefonica Germany, Microsoft MSFT.O and robotics platform Viam during the quarter.
Last week, larger peers Tata Consultancy Services TCS.NS and HCLTech HCLT.NS first-quarter results surpassed street expectations on account of strong tech spending among financial services clients.
Tech Mahindra shares closed 1.13% higher ahead of the results.
($1 = 96.3450 Indian rupees)
(Reporting by Sai Ishwarbharath B and Surbhi Misra; Editing by Harikrishnan Nair)
(([email protected]; || [email protected]))
** Shares of Indian IT services firm HCLTech HCLT.NS fall as much as 3.2% to 1201.1 rupees; last down 1.3%
** Stock top drag on IT index .NIFTYIT which is up 0.1%
** Co on Monday maintained FY27 annual revenue guidance and beat Q1 results estimates
** Decision to maintain guidance implies a few challenges in existing business, says Nuvama ("hold", PT 1300 rupees)
** JP Morgan ("underweight") says the unchanged outlook reflected continued weakness in discretionary technology spending, pressure in telecom and manufacturing accounts, and the delayed contribution from a recently announced $1.14 billion mega deal
** YTD, stock down 26.3% vs IT index's 23.3% drop
(Reporting by Abhirami G in Bengaluru)
** Shares of Indian IT services firm HCLTech HCLT.NS fall as much as 3.2% to 1201.1 rupees; last down 1.3%
** Stock top drag on IT index .NIFTYIT which is up 0.1%
** Co on Monday maintained FY27 annual revenue guidance and beat Q1 results estimates
** Decision to maintain guidance implies a few challenges in existing business, says Nuvama ("hold", PT 1300 rupees)
** JP Morgan ("underweight") says the unchanged outlook reflected continued weakness in discretionary technology spending, pressure in telecom and manufacturing accounts, and the delayed contribution from a recently announced $1.14 billion mega deal
** YTD, stock down 26.3% vs IT index's 23.3% drop
(Reporting by Abhirami G in Bengaluru)
HCLTech announced on July 13 that its board has approved an investment of up to ₹3,500 crore to establish AI data centers in India, marking the company's entry into the full-stack AI market. The investment will be routed through new wholly-owned subsidiaries and is intended to scale up to 50MW of capacity. The company said the move complements its existing AI data center design, DevOps, and cloud operations capabilities, creating an integrated end-to-end play. CEO C Vijayakumar stated that the convergence of AI demand, supply constraints, and digital sovereignty presents a compelling opportunity for HCLTech to emerge as a full-stack AI technology solutions provider. The first subsidiary for this purpose is yet to be incorporated, with an initial subscription of ₹15 lakh. HCLTech's consolidated revenues for the twelve months ending June 2026 stood at $14.8 billion.
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HCLTech announced on July 13 that its board has approved an investment of up to ₹3,500 crore to establish AI data centers in India, marking the company's entry into the full-stack AI market. The investment will be routed through new wholly-owned subsidiaries and is intended to scale up to 50MW of capacity. The company said the move complements its existing AI data center design, DevOps, and cloud operations capabilities, creating an integrated end-to-end play. CEO C Vijayakumar stated that the convergence of AI demand, supply constraints, and digital sovereignty presents a compelling opportunity for HCLTech to emerge as a full-stack AI technology solutions provider. The first subsidiary for this purpose is yet to be incorporated, with an initial subscription of ₹15 lakh. HCLTech's consolidated revenues for the twelve months ending June 2026 stood at $14.8 billion.
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Updates with details of company and analyst commentary, details of data center foray, recasts throughout
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, July 13 (Reuters) - HCLTech HCLT.NS, India's third-largest software services exporter, beat profit and revenue expectations for the first quarter on Monday, buoyed by strength in its financial services and a weak rupee.
The company also retained its annual revenue forecast while announcing a foray into the data center business.
Analysts have lowered their expectations for India's $315 billion IT industry as global clients cut non-essential tech spending and fears mount that advanced AI tools could disrupt the business models of software companies.
HCLTech's deal wins of $2.4 billion, its highest ever in the first quarter, are a positive indicator, CEO C Vijayakumar said in a press conference.
"There has been some impact due to West Asia (conflict), which started in March, and some of that is continuing. Some of the discretionary spend softness continues to be there, but we see a large pipeline, very healthy booking. We expect strong booking even in Q2," he said.
A weaker rupee also boosted revenue for IT firms as they bill clients in foreign currencies, while incurring most costs in rupees.
HCLTech posted a 13.9% year-on-year rise in revenue to 345.79 billion rupees ($3.62 billion) during the June quarter, against analysts' average estimate of 343.5 billion rupees, according to LSEG data.
Revenue in constant currency, or stripping out exchange-rate effects, rose 2.6%.
Analysts said the company's performance in financial services and retail segments was positive, with the financial services segment being the secular growth driver for the industry.
"It's a good set of numbers, but the FY27 guidance has not increased or narrowed. That was the biggest monitorable, particularly because the company won a $1.14 billion deal this month. From that perspective, this was slightly disappointing," said Sushovon Nayak, analyst at Anand Rathi.
HCLTech also saw a net reduction in headcount of over 3,000, the steepest drop in eight quarters.
The company announced a foray into the data center business, for which it plans to invest 35 billion rupees with the potential to scale to 50 megawatts of capacity.
"While the investment could modestly weigh on cash flows in the near term, it positions HCLTech to participate across the full AI value chain," StoxBox research analyst Sagar Shetty said.
($1 = 95.6200 Indian rupees)
(Reporting by Haripriya Suresh and Sai Ishwarbharath B in Bengaluru; Editing by Shilpi Majumdar and Devika Syamnath)
Updates with details of company and analyst commentary, details of data center foray, recasts throughout
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, July 13 (Reuters) - HCLTech HCLT.NS, India's third-largest software services exporter, beat profit and revenue expectations for the first quarter on Monday, buoyed by strength in its financial services and a weak rupee.
The company also retained its annual revenue forecast while announcing a foray into the data center business.
Analysts have lowered their expectations for India's $315 billion IT industry as global clients cut non-essential tech spending and fears mount that advanced AI tools could disrupt the business models of software companies.
HCLTech's deal wins of $2.4 billion, its highest ever in the first quarter, are a positive indicator, CEO C Vijayakumar said in a press conference.
"There has been some impact due to West Asia (conflict), which started in March, and some of that is continuing. Some of the discretionary spend softness continues to be there, but we see a large pipeline, very healthy booking. We expect strong booking even in Q2," he said.
A weaker rupee also boosted revenue for IT firms as they bill clients in foreign currencies, while incurring most costs in rupees.
HCLTech posted a 13.9% year-on-year rise in revenue to 345.79 billion rupees ($3.62 billion) during the June quarter, against analysts' average estimate of 343.5 billion rupees, according to LSEG data.
Revenue in constant currency, or stripping out exchange-rate effects, rose 2.6%.
Analysts said the company's performance in financial services and retail segments was positive, with the financial services segment being the secular growth driver for the industry.
"It's a good set of numbers, but the FY27 guidance has not increased or narrowed. That was the biggest monitorable, particularly because the company won a $1.14 billion deal this month. From that perspective, this was slightly disappointing," said Sushovon Nayak, analyst at Anand Rathi.
HCLTech also saw a net reduction in headcount of over 3,000, the steepest drop in eight quarters.
The company announced a foray into the data center business, for which it plans to invest 35 billion rupees with the potential to scale to 50 megawatts of capacity.
"While the investment could modestly weigh on cash flows in the near term, it positions HCLTech to participate across the full AI value chain," StoxBox research analyst Sagar Shetty said.
($1 = 95.6200 Indian rupees)
(Reporting by Haripriya Suresh and Sai Ishwarbharath B in Bengaluru; Editing by Shilpi Majumdar and Devika Syamnath)
TCS shares rise after revenue beat from strong banking demand, rising AI revenue
Annualized AI revenue crosses $2.6 billion, driven by faster deployments across industries
Results offer investors early signs that sector growth may be stabilizing, analysts say
Updates with closing levels
By Mridula Kumar
July 10 (Reuters) - India's Tata Consultancy Services TCS.NS rose as much as 4.1% on Friday after better-than-expected quarterly revenue on strong banking demand and rising AI revenue, though analysts said the broader sector recovery was likely to remain gradual.
Shares of the country's top software services exporter trimmed some gains to close about 1% higher at 2,069 rupees, helping lift the benchmark Nifty 50 .NSEI 1.02% higher.
The IT index .NIFTYIT gained about 1.96% during the session.
Analysts said investors were looking at positive growth expectations for TCS in the coming quarters, led by AI revenue, with multiple brokerages also citing strong growth in banking, financial services and insurance, high-tech and regional markets.
"The company expects AI adoption growth and transformation to pick up, and they expect better numbers," said Piyush Pandey, lead IT Analyst at Centrum Broking.
Annualized AI revenue crossed $2.6 billion, driven by faster deployments across industries, rising from $2.3 billion in the previous quarter, TCS said.
Quarterly sales rose 14% to 722.75 billion rupees ($7.58 billion), while CEO K Krithivasan signalled a second-quarter recovery in manufacturing and life sciences demand.
SUBDUED QUARTER, GRADUAL RECOVERY
While the results offered investors early signs that growth may be stabilizing in India's $315 billion IT sector, analysts said a broader recovery was likely to remain gradual as demand concerns remained after expectations of another subdued quarter.
Flattish international revenue and a 3% year-on-year fall in headcount suggested continued sluggishness, according to Citi, while Nomura analysts said macro uncertainty still weighed on the near-term outlook.
Brokerages had flagged a low growth rate for the company in fiscal 2027 due to AI-led deflation.
The earliest the net AI impact will turn accretive for the sector and company is mid- to end-fiscal 2028, HSBC said post the results, adding that TCS' quarterly earnings offered limited grounds for pessimistic investors to reassess their stance.
Rivals Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS are expected to report their quarterly earnings later in the month.
($1 = 95.3150 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru; Writing by Abinaya V; Editing by Mrigank Dhaniwala and Janane Venkatraman)
TCS shares rise after revenue beat from strong banking demand, rising AI revenue
Annualized AI revenue crosses $2.6 billion, driven by faster deployments across industries
Results offer investors early signs that sector growth may be stabilizing, analysts say
Updates with closing levels
By Mridula Kumar
July 10 (Reuters) - India's Tata Consultancy Services TCS.NS rose as much as 4.1% on Friday after better-than-expected quarterly revenue on strong banking demand and rising AI revenue, though analysts said the broader sector recovery was likely to remain gradual.
Shares of the country's top software services exporter trimmed some gains to close about 1% higher at 2,069 rupees, helping lift the benchmark Nifty 50 .NSEI 1.02% higher.
The IT index .NIFTYIT gained about 1.96% during the session.
Analysts said investors were looking at positive growth expectations for TCS in the coming quarters, led by AI revenue, with multiple brokerages also citing strong growth in banking, financial services and insurance, high-tech and regional markets.
"The company expects AI adoption growth and transformation to pick up, and they expect better numbers," said Piyush Pandey, lead IT Analyst at Centrum Broking.
Annualized AI revenue crossed $2.6 billion, driven by faster deployments across industries, rising from $2.3 billion in the previous quarter, TCS said.
Quarterly sales rose 14% to 722.75 billion rupees ($7.58 billion), while CEO K Krithivasan signalled a second-quarter recovery in manufacturing and life sciences demand.
SUBDUED QUARTER, GRADUAL RECOVERY
While the results offered investors early signs that growth may be stabilizing in India's $315 billion IT sector, analysts said a broader recovery was likely to remain gradual as demand concerns remained after expectations of another subdued quarter.
Flattish international revenue and a 3% year-on-year fall in headcount suggested continued sluggishness, according to Citi, while Nomura analysts said macro uncertainty still weighed on the near-term outlook.
Brokerages had flagged a low growth rate for the company in fiscal 2027 due to AI-led deflation.
The earliest the net AI impact will turn accretive for the sector and company is mid- to end-fiscal 2028, HSBC said post the results, adding that TCS' quarterly earnings offered limited grounds for pessimistic investors to reassess their stance.
Rivals Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS are expected to report their quarterly earnings later in the month.
($1 = 95.3150 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru; Writing by Abinaya V; Editing by Mrigank Dhaniwala and Janane Venkatraman)
July 7 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLSOFTWARE COMPLETES ACQUISITION OF JASPERSOFT AND INTEGRATES WITH ACTIAN PORTFOLIO
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
July 7 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLSOFTWARE COMPLETES ACQUISITION OF JASPERSOFT AND INTEGRATES WITH ACTIAN PORTFOLIO
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
Nifty IT index down 28.4% in 2026, trailing a 6.6% drop in Nifty 50
Rupee weakness to mask underlying softness in revenue and profit growth
TCS kicks off earnings on July 9
Brokerages say Infosys and HCLTech could trim upper end of annual revenue forecasts
AI adoption pressures pricing, speeds software development cycles
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
The April-to-June quarter is usually a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a slow start to the fiscal year that would push back hopes of a recovery.
India's largest IT services company, Tata Consultancy Services TCS.NS, kicks off earnings on Thursday with peers Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS reporting later this month.
While India's top six IT firms are expected to report around 14% year-on-year revenue growth in rupee terms with net profit rising 12%-13%, this would largely be due to the impact of sharp rupee depreciation. Stripping out exchange rate effects, the companies are expected to post a mere 2.8% revenue growth in constant-currency terms.
Citi expects a fourth straight year of subdued growth for Indian IT firms, while JPMorgan sees revenue growth staying below 3%-4% for the "foreseeable future".
The IT sector is racing to adapt to changing customer needs as companies across the globe step up the use of AI tools and agents to cut costs and quicken software development cycles.
Software firms have slowed hiring, with TCS Chairman N Chandrasekaran saying the "day is not far" when the company would have an equal number of AI agents and employees.
Indian IT firms are in a "perfect storm," Nomura said in its earnings preview, with Middle East conflict-led uncertainty compounding AI-driven pricing pressure.
Fears that AI would disrupt the IT sector's traditional, labour-intensive business model dragged the Nifty IT index .NIFTYIT down 9.5% in the June quarter even as India's benchmark Nifty 50 .NSEI gained 6.9%.
The IT index has slumped about 28% so far in 2026, making it the worst-performing major sector in India.
The impact of AI-led disruption and weakness in client spending will be broad-based, according to PL Capital, with effects visible in the consumer, hi-tech, and telecom verticals.
"Slower decision-making and elongated sales cycle are leading to delays in revenue conversion and execution," the brokerage said in a note.
Annual revenue forecasts will be a key focus for investors. Brokerages say Infosys and HCLTech could narrow or trim the upper end of their forecasts.
Potentially higher interest rates in the U.S., which makes up about 60% of Indian IT firms' revenue, also loom.
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
Nifty IT index down 28.4% in 2026, trailing a 6.6% drop in Nifty 50
Rupee weakness to mask underlying softness in revenue and profit growth
TCS kicks off earnings on July 9
Brokerages say Infosys and HCLTech could trim upper end of annual revenue forecasts
AI adoption pressures pricing, speeds software development cycles
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
The April-to-June quarter is usually a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a slow start to the fiscal year that would push back hopes of a recovery.
India's largest IT services company, Tata Consultancy Services TCS.NS, kicks off earnings on Thursday with peers Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS reporting later this month.
While India's top six IT firms are expected to report around 14% year-on-year revenue growth in rupee terms with net profit rising 12%-13%, this would largely be due to the impact of sharp rupee depreciation. Stripping out exchange rate effects, the companies are expected to post a mere 2.8% revenue growth in constant-currency terms.
Citi expects a fourth straight year of subdued growth for Indian IT firms, while JPMorgan sees revenue growth staying below 3%-4% for the "foreseeable future".
The IT sector is racing to adapt to changing customer needs as companies across the globe step up the use of AI tools and agents to cut costs and quicken software development cycles.
Software firms have slowed hiring, with TCS Chairman N Chandrasekaran saying the "day is not far" when the company would have an equal number of AI agents and employees.
Indian IT firms are in a "perfect storm," Nomura said in its earnings preview, with Middle East conflict-led uncertainty compounding AI-driven pricing pressure.
Fears that AI would disrupt the IT sector's traditional, labour-intensive business model dragged the Nifty IT index .NIFTYIT down 9.5% in the June quarter even as India's benchmark Nifty 50 .NSEI gained 6.9%.
The IT index has slumped about 28% so far in 2026, making it the worst-performing major sector in India.
The impact of AI-led disruption and weakness in client spending will be broad-based, according to PL Capital, with effects visible in the consumer, hi-tech, and telecom verticals.
"Slower decision-making and elongated sales cycle are leading to delays in revenue conversion and execution," the brokerage said in a note.
Annual revenue forecasts will be a key focus for investors. Brokerages say Infosys and HCLTech could narrow or trim the upper end of their forecasts.
Potentially higher interest rates in the U.S., which makes up about 60% of Indian IT firms' revenue, also loom.
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
** Shares of India's HCLTech HCLT.NS rise 5.2% to 1,135 rupees
** IT services co on Friday announced the signing of strategic partnership with a European Fortune 50 firm
** Deal valued at $1.14 billion, to establish AI-driven operating model for workplace transformation
** HCLT on avg rated "hold" by 40 analysts; median PT is 1362.5 rupees - LSEG data
** Stock down 31% YTD
(Reporting by Abhirami G in Bengaluru)
** Shares of India's HCLTech HCLT.NS rise 5.2% to 1,135 rupees
** IT services co on Friday announced the signing of strategic partnership with a European Fortune 50 firm
** Deal valued at $1.14 billion, to establish AI-driven operating model for workplace transformation
** HCLT on avg rated "hold" by 40 analysts; median PT is 1362.5 rupees - LSEG data
** Stock down 31% YTD
(Reporting by Abhirami G in Bengaluru)
June 25 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND SERVICENOW JOIN FORCES TO SCALE ENTERPRISE AI WITH GOOGLE CLOUD
Source text: ID:nBSE37ymtf
Further company coverage: HCLT.NS
(([email protected];))
June 25 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH AND SERVICENOW JOIN FORCES TO SCALE ENTERPRISE AI WITH GOOGLE CLOUD
Source text: ID:nBSE37ymtf
Further company coverage: HCLT.NS
(([email protected];))
June 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH SELECTED AS STRATEGIC PARTNER BY NESTE
HCLTECH - HCLTECH PARTNERS WITH NESTE FOR LONG-TERM AI-LED EFFICIENCY TRANSFORMATION
Source text: ID:nBSE749BXM
Further company coverage: HCLT.NS
(([email protected];))
June 24 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH SELECTED AS STRATEGIC PARTNER BY NESTE
HCLTECH - HCLTECH PARTNERS WITH NESTE FOR LONG-TERM AI-LED EFFICIENCY TRANSFORMATION
Source text: ID:nBSE749BXM
Further company coverage: HCLT.NS
(([email protected];))
BENGALURU, June 19 (Reuters) - India's Nifty IT index .NIFTYIT slumped 5.8% on Friday after industry bellwether Accenture ACN.N forecast quarterly sales below Wall Street view and lowered the upper end of its annual revenue outlook due to weakness in its Middle East business.
Shares of Indian IT companies, including Tata Consultancy Services TCS.NS, Infosys INFY.NS, and HCL Technologies HCLT.NS fell between 5% and 7%.
(Reporting by Haripriya Suresh in Bengaluru; Editing by Sherry Jacob-Phillips)
BENGALURU, June 19 (Reuters) - India's Nifty IT index .NIFTYIT slumped 5.8% on Friday after industry bellwether Accenture ACN.N forecast quarterly sales below Wall Street view and lowered the upper end of its annual revenue outlook due to weakness in its Middle East business.
Shares of Indian IT companies, including Tata Consultancy Services TCS.NS, Infosys INFY.NS, and HCL Technologies HCLT.NS fell between 5% and 7%.
(Reporting by Haripriya Suresh in Bengaluru; Editing by Sherry Jacob-Phillips)
June 18 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE IN CHENNAI WITH INTEL-POWERED ENTERPRISE SOLUTIONS
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
June 18 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE IN CHENNAI WITH INTEL-POWERED ENTERPRISE SOLUTIONS
Source text: [ID:]
Further company coverage: HCLT.NS
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Ujjaini Dutta
BENGALURU, June 17 (Reuters Breakingviews) - HCLTech’s HCLT.NS decision to lead a fundraising round for India’s sovereign AI posterchild is both timely and shrewd. The $32 billion IT services firm's 10% stake in Sarvam, valuing the startup at $1.5 billion, is small enough to limit any risk yet showy enough to deflect mounting criticism that the world's back office is underinvesting as AI eats away at its revenue.
To be sure, Sarvam, founded by Vivek Raghavan and Pratyush Kumar, is not a neat fit for its newest big backer. The barely three-year-old startup's large language model is optimised for Indic languages but HCL's client base is largely outside the country, mostly in the United States and Europe: India accounted for just 3% of HCLTech's annual sales in the year to the end of March 2026.
And while the IT industry's decades-long success is often attributed to New Delhi staying out of the way, Sarvam is at the heart of the government's IndiaAI Mission. Through that initiative, the startup has secured financial and compute support, including subsidised access to Nvidia's NVDA.O graphics processing chips.
Of course, taking a stake in India's sovereign AI champion could unlock more domestic deals for the C Vijayakumar-led company with Indian enterprises. And it might also get early access to Sarvam's latest tech, as Microsoft MSFT.O did through its investment in OpenAI, though the company run by Satya Nadella also bagged a huge customer for its Azure cloud business.
The political returns for HCL at least appear more certain. Washington's order for Anthropic to suspend access for non-U.S. residents to its Fable 5 and Mythos 5 models will only deepen the desire of governments around the world to find their own sovereign AI solutions across compute infrastructure, AI models and user-facing AI software. That will require oodles of capital.
HCL's rivals such as Wipro WIPR.NS and Infosys INFY.NS are attempting to counter AI deflation on their revenues in other ways. Tata Consultancy Services TCS.NS, for example, is investing in a data centre. Backing Sarvam is, for now, less expensive and probably more politically savvy. They may be tempted to pile in too.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
HCLTech will acquire a 10.5% stake in Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, the Indian IT services company said in a stock exchange filing on June 15. HCL co-led the fundraising round with Bessemer Venture Partners. It also included existing investors Khosla Ventures and Peak XV Partners.
The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech said.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million. The AI startup is backed by India's government AI Mission.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Ujjaini Dutta
BENGALURU, June 17 (Reuters Breakingviews) - HCLTech’s HCLT.NS decision to lead a fundraising round for India’s sovereign AI posterchild is both timely and shrewd. The $32 billion IT services firm's 10% stake in Sarvam, valuing the startup at $1.5 billion, is small enough to limit any risk yet showy enough to deflect mounting criticism that the world's back office is underinvesting as AI eats away at its revenue.
To be sure, Sarvam, founded by Vivek Raghavan and Pratyush Kumar, is not a neat fit for its newest big backer. The barely three-year-old startup's large language model is optimised for Indic languages but HCL's client base is largely outside the country, mostly in the United States and Europe: India accounted for just 3% of HCLTech's annual sales in the year to the end of March 2026.
And while the IT industry's decades-long success is often attributed to New Delhi staying out of the way, Sarvam is at the heart of the government's IndiaAI Mission. Through that initiative, the startup has secured financial and compute support, including subsidised access to Nvidia's NVDA.O graphics processing chips.
Of course, taking a stake in India's sovereign AI champion could unlock more domestic deals for the C Vijayakumar-led company with Indian enterprises. And it might also get early access to Sarvam's latest tech, as Microsoft MSFT.O did through its investment in OpenAI, though the company run by Satya Nadella also bagged a huge customer for its Azure cloud business.
The political returns for HCL at least appear more certain. Washington's order for Anthropic to suspend access for non-U.S. residents to its Fable 5 and Mythos 5 models will only deepen the desire of governments around the world to find their own sovereign AI solutions across compute infrastructure, AI models and user-facing AI software. That will require oodles of capital.
HCL's rivals such as Wipro WIPR.NS and Infosys INFY.NS are attempting to counter AI deflation on their revenues in other ways. Tata Consultancy Services TCS.NS, for example, is investing in a data centre. Backing Sarvam is, for now, less expensive and probably more politically savvy. They may be tempted to pile in too.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
HCLTech will acquire a 10.5% stake in Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, the Indian IT services company said in a stock exchange filing on June 15. HCL co-led the fundraising round with Bessemer Venture Partners. It also included existing investors Khosla Ventures and Peak XV Partners.
The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech said.
Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million. The AI startup is backed by India's government AI Mission.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
June 15 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH TO BUY 10.46% STAKE IN SARVAM AI
Source text: ID:nBSE1bGLkL
Further company coverage: HCLT.NS
(([email protected];;))
June 15 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH TO BUY 10.46% STAKE IN SARVAM AI
Source text: ID:nBSE1bGLkL
Further company coverage: HCLT.NS
(([email protected];;))
June 9 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES CYBERSECURITY FUSION CENTER IN MISSISSAUGA, ONTARIO
Source text: ID:nBSE4LvvH6
Further company coverage: HCLT.NS
(([email protected];))
June 9 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - LAUNCHES CYBERSECURITY FUSION CENTER IN MISSISSAUGA, ONTARIO
Source text: ID:nBSE4LvvH6
Further company coverage: HCLT.NS
(([email protected];))
June 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE WITH GOOGLE CLOUD
Source text: ID:nBSE6tK6LD
Further company coverage: HCLT.NS
(([email protected];))
June 8 (Reuters) - HCL Technologies Ltd HCLT.NS:
HCLTECH - HCLTECH LAUNCHES AI INNOVATION ZONE WITH GOOGLE CLOUD
Source text: ID:nBSE6tK6LD
Further company coverage: HCLT.NS
(([email protected];))
- Actian launched the Data Steward Agent, aiming to strengthen enterprise AI deployments by enforcing a shared business context across data assets.
- The product targets a key scaling constraint for AI programs: inconsistent metadata and definitions that can undermine trust, compliance, and reuse.
- It is positioned to reduce governance bottlenecks, shifting effort from manual upkeep toward validation while speeding rollout of AI-ready data.
- The agent is available now within the Actian Data Intelligence Platform, extending the platform’s competitive push into AI governance and semantic consistency.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Actian Corporation published the original content used to generate this news brief on June 03, 2026, and is solely responsible for the information contained therein.
- Actian launched the Data Steward Agent, aiming to strengthen enterprise AI deployments by enforcing a shared business context across data assets.
- The product targets a key scaling constraint for AI programs: inconsistent metadata and definitions that can undermine trust, compliance, and reuse.
- It is positioned to reduce governance bottlenecks, shifting effort from manual upkeep toward validation while speeding rollout of AI-ready data.
- The agent is available now within the Actian Data Intelligence Platform, extending the platform’s competitive push into AI governance and semantic consistency.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Actian Corporation published the original content used to generate this news brief on June 03, 2026, and is solely responsible for the information contained therein.
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Popular questions
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What does HCL Technologies do?
HCL Technologies is primarily engaged in providing a range of IT and business services, engineering and R&D services and modernized software products and IP-led offerings. The Company leverages its global technology workforce and intellectual properties to deliver solutions across following verticals - Financial Services, Manufacturing, Life Sciences & Healthcare, Public Services, Retail & CPG, Technology & Services and Telecom, Media, Publishing and Entertainment. In order to offer enterprises the maximum benefit of these technologies to further their business objectives, HCL offers an integrated portfolio of products and services through three business units. These are IT and Business Services (ITBS), Engineering and R&D Services (ERS), and Products and Platforms (P&P).
Who are the competitors of HCL Technologies?
HCL Technologies major competitors are Infosys, Wipro, Tech Mahindra, LTM, Oracle Finl. Service, Persistent Systems, Coforge. Market Cap of HCL Technologies is ₹3,39,520 Crs. While the median market cap of its peers are ₹1,25,767 Crs.
Is HCL Technologies financially stable compared to its competitors?
HCL Technologies seems to be less financially stable compared to its competitors. Altman Z score of HCL Technologies is 8.21 and is ranked 6 out of its 8 competitors.
Does HCL Technologies pay decent dividends?
The company seems to pay a good stable dividend. HCL Technologies latest dividend payout ratio is 88.1% and 3yr average dividend payout ratio is 90.56%
How has HCL Technologies allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable
How strong is HCL Technologies balance sheet?
Balance sheet of HCL Technologies is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of HCL Technologies improving?
The profit is oscillating. The profit of HCL Technologies is ₹17,434 Crs for TTM, ₹16,642 Crs for Mar 2026 and ₹17,390 Crs for Mar 2025.
Is the debt of HCL Technologies increasing or decreasing?
The net debt of HCL Technologies is decreasing. Latest net debt of HCL Technologies is -₹46,522 Crs as of Mar-26. This is less than Mar-25 when it was -₹40,125 Crs.
Is HCL Technologies stock expensive?
HCL Technologies is not expensive. Latest PE of HCL Technologies is 19.56, while 3 year average PE is 23.78. Also latest EV/EBITDA of HCL Technologies is 11.53 while 3yr average is 14.8.
Has the share price of HCL Technologies grown faster than its competition?
HCL Technologies has given lower returns compared to its competitors. HCL Technologies has grown at ~11.86% over the last 10yrs while peers have grown at a median rate of 13.31%
Is the promoter bullish about HCL Technologies?
Promoters seem to be bullish about the company. Latest quarter promoter holding is 60.88% and last quarter promoter holding is 60.86%.
Are mutual funds buying/selling HCL Technologies?
The mutual fund holding of HCL Technologies is decreasing. The current mutual fund holding in HCL Technologies is 9.04% while previous quarter holding is 9.22%.