Tech Mahindra

Sept 3 (Reuters) - Tech Mahindra Limited TEML.NS:

• LAUNCHES AWS AGENTIC PROCESS TRANSFORMATION COE TO REDEFINE AI-LED BUSINESS OPERATIONS

• AWS APT COE TO DELIVER SCALABLE AI SOLUTIONS ACROSS INDUSTRIES

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By KaranPrashant Saxena

BENGALURU, Aug 17 (Reuters) - Former Spain footballer Gerard Pique has become a strategic shareholder in a Global Chess League franchise, joining a growing number of athletes, like Erling Haaland, to invest in a sport rapidly evolving into a commercial entertainment property.

Pique, a World Cup winner and founder of sports and media company Kosmos, was announced as the latest shareholder in franchise Fyers American Gambits at a press conference in Bengaluru, India on Monday.

"Chess has fascinated me for a long time because of its depth, its global appeal and the incredible mental strength it demands," the former Barcelona player said in a statement.

The investment comes amid a broader push to transform chess from a traditional board game into a global sports product through franchise leagues, digital content, sponsorships and streaming platforms.

Former India cricketer Ravichandran Ashwin is a shareholder in the American Gambits.

Norway's multiple Olympic cross-country skiing champion Johannes Hoesflot Klaebo and Haaland also invested this year in Norway Chess and the Total Chess World Championship, which is backed by the International Chess Federation (FIDE).

"There are so many interesting parallels," Norwegian investor Morten Borge, who helped bring Manchester City striker Haaland into the project, told Reuters.

"Even though on the pitch Erling looks like a physical monster, football at the highest level is also about preparation, strategy, timing and understanding decisive moments. In that sense, there are similarities to chess."

Borge said Haaland was drawn to the game's emphasis on strategic thinking and the mental discipline required to perform under pressure.

The crossover reflects a wider trend in sport, where athletes increasingly use chess to sharpen concentration, decision-making and pattern recognition.

Former Manchester City manager Pep Guardiola has frequently referenced chess and strategy in discussions about football.

Several athletes across sports have publicly spoken about using the game as a training tool, including former Liverpool forward Mohamed Salah and tennis greats Boris Becker and Novak Djokovic.

At the same time, investors increasingly see commercial opportunities in chess.

The Global Chess League, backed by Indian technology giants Tech Mahindra and FIDE, has sought to broaden the sport's appeal through shorter formats designed for television and digital audiences.

Borge believes chess is following a path taken by several niche sports that successfully expanded beyond their traditional fan bases.

"When you can commercialize a narrow sport like darts, and when almost a billion people around the world play chess, the opportunity is obvious," he said.

American Gambits will compete at the fourth edition of GCL in Bengaluru in September.

(Reporting by Karan Prashant Saxena in Bengaluru
Editing by Christian Radnedge)

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Aug 6 (Reuters) - Tech Mahindra Limited TEML.NS:

• TECH MAHINDRA LAUNCHES TORONTO INNOVATION HUB TO ACCELERATE AI-LED ENTERPRISE TRANSFORMATION IN CANADA

Source text: ID:nCNW9hZwra

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** Shares of India's Tech Mahindra TEML.NS up 1.2% at 1,517 rupees ahead of Q1 results

** Nifty IT index up 1%

** Analysts on an average expect co's first quarter profit to jump about 37% y/y to 15.63 billion rupees ($162.39 million) -- data compiled by LSEG

** On an average, analysts expect co's Q1 revenue to rise ~16% year-on-year to 154.76 billion rupees --LSEG data

** Brokerage Citi said co remained on track to outperform the industry and meet its FY27 target of a 15% EBIT margin, supported by deal ramp-ups despite a challenging demand environment

** HDFC Securities said co's strong deal pipeline and recent mega-deal wins provide confidence in improving revenue momentum through FY27

** Nomura expects co to post strongest quarterly revenue growth among large-cap Indian IT firms, helped by communications and enterprise businesses

** TEML rated "buy" on average by 40 analysts, median PT at 1560 rupees - data compiled by LSEG

** YTD, stock down 4.7%

($1 = 96.2500 Indian rupees)

(Reporting by Surbhi Misra and Mridula Kumar in Bengaluru)

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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)

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June 29 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA - LIQUIDATES UNIT LEADCOM INTEGRATED SOLUTIONS MYANMAR EFFECTIVE 29 JUNE 2026

Source text: ID:nBSEX9qBD

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June 23 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA - STEP-DOWN SUBSIDIARY HCI GROUP AUSTRALIA LIQUIDATED EFFECTIVE MAY 27, 2026

Source text: [ID:]

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

• TECH MAHINDRA AND VIAM PARTNER TO SCALE ADVANCED ROBOTICS AND AUTOMATION SOLUTIONS

Source text: ID:nPn7FNtSJa

Further company coverage: TEML.NS

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June 2 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA AND STACKGEN ANNOUNCE PARTNERSHIP TO POWER AGENTIC AI FOR ENTERPRISE CLOUD

Source text: ID:nPreRQHqla

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** Brokerage CLSA lifts TP on Tech Mahindra's TEML.NS shares to 1,598 rupees from 1,556 rupees, representing a 12.5% upside to the stock's last close

** Tech Mahindra on Thursday posts Q4 revenue above estimates; says it is confident of delivering growth in 2027

** Brokerage says the beat was driven by strong growth in telecom and tech verticals and financial services, along with several large client wins and high-value accounts added over the past two years

** Adds that a strong order book, higher revenue per employee and EBIT margins show little sign of AI-led pricing pressure at TEML, which it says is executing well under its current CEO

** Tech Mahindra shares were down 4.5% to 1,357 rupees in afternoon trading, they have fallen 14.7% so far in 2026

(Reporting by Abhinav Parmar)

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April 22 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA EXEC: GROWTH IN EUROPE CAME FROM AEROSPACE, INDUSTRIAL MANUFACTURING AND AUTOS

• TECH MAHINDRA EXEC: COMMUNICATION VERTICAL GREW IN AMERICA, HELPED OFFSET SOFTNESS IN U.S AUTO SECTOR

• TECH MAHINDRA EXEC: NOT SEEING ANY MEANINGFUL NEGATIVE IMPACT DUE TO MIDDLE EAST SITUATION SO FAR, ONLY TRAVEL IMPACTED

• TECH MAHINDRA EXEC: LOOKING AT COUPLE OF TUCK-IN ACQUISITIONS OVER NEXT YEAR, BUT WON'T BE NEEDLE MOVING

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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)

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March 31 (Reuters) - Tech Mahindra Ltd TEML.NS:

• TECH MAHINDRA - PARTNERS WITH PARKOURSC TO DELIVER AI-POWERED DIGITAL SUPPLY CHAIN SOLUTIONS

• TECH MAHINDRA - PARTNERSHIP TO ENHANCE SUPPLY CHAIN RESILIENCE IN PHARMACEUTICAL AND COLD CHAIN LOGISTICS

Source text: ID:nBw1zdnKXa

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March 17 (Reuters) - Tech Mahindra Ltd TEML.NS:

• SUBSIDIARY ENTERED SHARE SALE AND PURCHASE AGREEMENT WITH MIDAD COMPANY

• ACQUISITION OF MIDAD’S STAKE OF 20% EQUITY SHARES IN TECH MAHINDRA ARABIA

• TO BUY 20% STAKE IN TECH MAHINDRA ARABIA FROM MIDAD

• ACQUISITION COST 2.06 BLN RUPEES

Source text: [ID:]

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

• TECH MAHINDRA - NOTES MARKET RUMOURS OF SIGNIFICANT HEADCOUNT REDUCTION

• TECH MAHINDRA - DENIES PROPOSAL FOR SIGNIFICANT HEADCOUNT REDUCTION

Source text: ID:nBSE8G4Szz

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March 2 (Reuters) - Tech Mahindra Ltd TEML.NS:

• ORANGE BUSINESS AND TECH MAHINDRA ENTER STRATEGIC PARTNERSHIP

Source text: ID:nBSE3vlX2R

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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)

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

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

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

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

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

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

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

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

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

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

Source text: [ID:]

Further company coverage: NVDA.O

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

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

Source text: ID:nPn9Sc9JGa

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Updates levels, adds graphic after paragraph 11

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

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

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

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

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

DISRUPTION

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

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

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

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

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

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

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

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

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

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

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