Latest news with #HCLTech
Time of India
3 hours ago
- Business
- Time of India
Stocks in news: Vodafone Idea, Jindal Stainless, ITC, HCL Tech, Grasim Industries
The market started the week on a volatile note and ended almost flat, continuing its consolidation phase. In today's trade, shares of Vodafone Idea , Jindal Stainless , ITC , HCL Tech Grasim Industries among others will be in focus due to various news developments. Biocon Biocon received approval for diabetes drug Liraglutide in India. Vodafone Idea Vodafone Idea (VIL) said it is engaged with the Centre to find a solution to the AGR issue, with CEO Akshaya Moondra stating he sees no reason why the government should be constrained in any way to offer relief. Jindal Stainless Jindal Stainless said it has acquired a 33.64% equity stake in a special purpose vehicle (SPV) to develop a 282 MW hybrid renewable energy project for its manufacturing operations. Grasim Industries Grasim Industries announced that its Finance Committee has approved the issuance of non-convertible debentures (NCDs) aggregating up to Rs 1,000 crore. Live Events ITC US-based investment firm GQG Partners has increased its stake in ITC Ltd, one of India's largest consumer goods companies, through a bulk deal on May 28. HCL Tech HCL Tech announced a strategic partnership with UiPath to accelerate Agentic Automation for global enterprises. Frontier Springs Frontier Springs bags order worth Rs 93 crore from Rail coach factory, Kapurthala and Modern coach factory, Raebareli.
Time of India
3 hours ago
- Business
- Time of India
AI, transformation-led deals likely to fuel IT M&As: Experts
As the technology services industry navigates another year of business drought, AI, engineering and transformation-led projects are likely to fuel the appetite for acquisitions, experts say. Since the beginning of 2024, Infosys—India's second largest IT major— has made four acquisitions in engineering R&D and semiconductor design services space, including two announced in April in cybersecurity and energy consulting areas. Its smaller rivals HCLTech and Wipro acquired two firms each while LTIMindtree purchased in December. These came after a lull of almost no acquisitions in 2023. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo 'We expect more and more small AI specialists getting acquired by IT services firms,' said Ashutosh Sharma, research director at global firm Forrester Research India. 'This is a throwback to digital era when most service providers acquired a number of agencies and digital specialists. This will happen and continue over next 3-5 years.' According to data platform Tracxn, Infosys ' most active year in terms of acquisitions was 2015 with five acquisitions, while Wipro's was 2020 with six cumulative acquisitions. Over the past three years, both Bengaluru-headquartered IT majors averaged nearly one acquisition per year, it said. Bellwether TCS is the only exception with no acquisitions announced since 2020. Live Events Mid-sized players Coforge , Persistent Systems and Happiest Minds Technologies , among others, have made at least two acquisitions each, all are specialists either in data, engineering, analytics and/or software services with built-in AI, transformation and consulting capabilities. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The acquisitions come at a time when software service providers are struggling to grow revenue base amid subdued demand and uncertain macro environment. Analysts believe that industry players with higher cash reserves could eye building expertise and also scale up inorganic route amid continuing caution around tariff-led impact on organic business demand. 'We are in a period where IT majors need to execute on a dual mandate of perform and transform,' said Prashant Shukla, vice president at technology-focused research and advisory firm Everest Group. He said while conventional thinking would suggest a cautious approach to acquisitions in FY26 amid mounting margin pressures and uncertainty (balance short-term performance), some companies are using this as an opportunity to acquire assets cheaper for their capability 'transform' efforts. According to other experts, this is also a period when mid-cap companies have been outperforming the larger peers and could be readying for consolidation. 'Tier-1 IT companies have been lagging on growth and commentary. But our mid-cap IT players have actually shown more agility in their thought process leadership… they are representing a very different market outlook,' said Shobhit Jain, MD and head, enterprise, technology & services for investment banking at Avendus Capital. In the broader market, M&A remains an important theme across the board. 'Even when companies have exhibited flat growth, we have not traded any asset below a 3x revenue multiple over the last 3-4 years, and I don't see that changing,' the banker said, adding that private equity is also getting aggressive in doing M&A. As per consulting major EY, enterprise tech M&A hit 857 deals globally in 2024, up from 722, with values rising to $32.2 billion. 'M&A is strategic to Wipro. When we have the right opportunity and it falls into our strategic priorities, we go for it. We are constantly looking for an opportunity around that which will help us drive our strategic priority. That is something that is part of inorganic growth for the future as well,' Srinivas Pallia, CEO and MD of Wipro Ltd, told media persons in a post-results conference in April. Largest global player Accenture, which is typically big on acquisitions, continued its streak taking the total acquisitions to 11 deploying $500 million since September, including investments in the talent and skilling space, a key segment for technology services firms. US-headquartered Cognizant, with a large workforce in India, made two bets during the past year adding to its inorganic growth. Among bigger deals, Capgemini is said to be in advanced talks to acquire business process outsourcing (BPO) specialist firm WNS. The companies did not respond to requests for comment.
Business Wire
4 hours ago
- Business
- Business Wire
UiPath Partners with HCLTech to Accelerate Agentic Automation for Global Enterprises
NEW YORK & NOIDA, India--(BUSINESS WIRE)--UiPath (NYSE: PATH), a global leader in agentic automation, today announced a strategic partnership with HCLTech, a leading global technology company, to accelerate agentic automation for UiPath customers globally across industries. The partnership will drive large-scale transformation for UiPath customers, enabling more intelligent and self-sufficient operations that require minimal human intervention. HCLTech will leverage its AI expertise to deploy the UiPath Platform™, enabling autonomous operations in finance, supply chain, procurement, customer service, marketing and human resources. HCLTech will support this partnership with pre-configured AI agents and controls to ensure seamless deployment and scalability. The partnership aims to enhance business agility, optimize workforce efficiency and deliver faster returns on business process automation investments for global enterprises. HCLTech will also establish an AI Lab with UiPath in India to develop Industry Focused Repeatable Solutions (IFRS) and MVPs for the full automation lifecycle, from strategy to implementation and continuous optimization. HCLTech will leverage its global delivery model to support UiPath customers in North America, Europe and Asia-Pacific. "As we shift towards a new era with agentic AI, agentic automation will be critical to provide businesses with the speed and agility to transform operations and unlock new business potential. Partnering with HCLTech allows UiPath to extend the power of its AI-powered automation to enterprises globally, accelerating intelligent transformation at scale. With HCLTech's deep expertise in AI, automation and industry solutions, UiPath customers will benefit from best-in-class implementation and business impact," said Ashim Gupta, Chief Operating Officer and Chief Financial Officer, UiPath. "By co-creating next-gen AI-powered solutions with UiPath, HCLTech is setting new benchmarks for agentic autonomous operations that unlock unprecedented efficiency, agility and innovation for enterprises. Our proven expertise in hyperautomation, AI and cloud-first architectures helps us provide industry-specific and advanced automation solutions at scale," said Raghu Kidambi, Corporate Vice President and Global Head, Digital Process Operations, HCLTech. About HCLTech HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending March 2025 totaled $13.8 billion. To learn how we can supercharge progress for you, visit About UiPath UiPath (NYSE: PATH) is a global leader in agentic automation, empowering enterprises to harness the full potential of AI agents to autonomously execute and optimize complex business processes. The UiPath Platform™ uniquely combines controlled agency, developer flexibility, and seamless integration to help organizations scale agentic automation safely and confidently. Committed to security, governance, and interoperability, UiPath supports enterprises as they transition into a future where automation delivers on the full potential of AI to transform industries. For more information, visit
Mint
12 hours ago
- Business
- Mint
Infosys CEO Parekh gets 22% pay hike in FY25, stays second-highest paid IT CEO
Infosys Ltd chief executive Salil Parekh's salary rose 21.7% last year to touch ₹ 80.62 crore, the company's latest annual report released on Monday showed, as he retained his position as the second-highest paid CEO among India's top information technology (IT) services companies. A little more than three-fifths, or ₹ 49.5 crore, of his compensation came from shares exercised by him in FY25, while ₹ 23.18 crore came from bonuses, variable pay, and incentives. The remaining ₹ 7.94 crore was part of his fixed salary. To be sure, the highest paid IT executive remains HCL Technologies Ltd's C. Vijayakumar, according to the company's FY24 annual report. Parekh's 22% pay hike comes as Infosys remained the second-best performing company among the Big Five in FY25. The Bengaluru-headquartered company ended FY25 with $19.28 billion in revenue, up 3.85% from a year earlier. Parekh's salary is three times more than Tata Consultancy Services Ltd CEO, K. Krithivasan, whose salary increased 4.6% to ₹ 26.5 crore. Fourth-largest Wipro Ltd paid ₹ 53.6 crore to CEO Srinivas Pallia, marking a 10% increase. Tech Mahindra Ltd's Mohit Joshi is the lowest paid among the five, with a salary of 1.34 million pounds, or around ₹ 15 crore as of March 2024. The Pune-based tech services company is yet to disclose its annual report for the year. HCLTech ended March 2025 with $13.84 billion in full-year revenue, marking a 4.3% increase. A spike in bosses' salaries at IT services companies underscores their performance, at least for Infosys and HCLTech. Parekh and Vijayakumar have been CEOs of their companies for at least seven years, making them Indian IT's longest serving bosses. Both companies have also grown fast in the last couple of years. While HCL grew the fastest among peers for the last two years, Infosys was the second-fastest last fiscal. The pay jump for India's IT bosses also reflects the companies' attempts at shedding their decades-old approach of being a conservative paymasters. However, it is not just Parekh at Infosys - the company added nine more crorepatis last fiscal year. Infosys now has 112 employees earning more than a crore rupees. While certain senior employees entered the one crore club, the median increase in salary for employees including those in the junior and middle level was 9.63%. However, this increase was more than last year's 8.65%. In contrast, TCS increased salaries of its employees up to 7.5% last fiscal, against 9% in FY24. Infosys with 323,578 employees, has almost half the employees of TCS, which ended last fiscal with 607,979 employees. The salary hikes at India's largest IT outsourcers come amid questions on growth because of an uncertain macroeconomic environment and fewer large deals. While Infosys projected its slowest growth for the fiscal at the start of the year in a decade, TCS reported its slowest growth in four years. TCS won orders worth $39 billion, 7.7% lower than last year whereas Wipro's order book was down 4% last year to $14.3 billion. Infosys reported large deals, or those exceeding $50 million in annual revenue, worth $11.6 billion, which was down 34% on a yearly basis. 'As we contemplate the developments of the last few months, we know we are in an era of uncertainty that we have never seen before. Multiple trends are colliding and leading us to reexamine the fundamentals of our businesses,' said Nandan Nilekani, chairman of Infosys, as part of his message in the company's annual report.
National Post
13 hours ago
- Business
- National Post
HCLTech and UiPath Partner to Accelerate Agentic Automation for Global Enterprises
Article content NEW YORK & NOIDA, India — HCLTech, a leading global technology company, and UiPath (NYSE: PATH), a global leader in agentic automation, today announced a strategic partnership to accelerate agentic automation for UiPath customers globally. The partnership will drive large-scale transformation for enterprises across industries, enabling more intelligent and self-sufficient business process operations that require minimal human intervention. Article content Article content HCLTech will leverage its AI expertise to deploy the UiPath Platform™, enabling autonomous operations in finance, supply chain, procurement, customer service, marketing and human resources. HCLTech will support this partnership with pre-configured AI agents and controls to ensure seamless deployment and scalability. The partnership aims to enhance business agility, optimize workforce efficiency and deliver faster returns on business process automation investments for global enterprises. Article content HCLTech will also establish an AI Lab with UiPath in India to develop Industry Focused Repeatable Solutions (IFRS) and MVPs for the full automation lifecycle, from strategy to implementation and continuous optimization. HCLTech will leverage its global delivery model to support UiPath customers in North America, Europe and Asia-Pacific. Article content 'As we shift towards a new era with Agentic AI, agentic automation will be critical to provide businesses with the speed and agility to transform operations and unlock new business potential. Partnering with HCLTech allows UiPath to extend the power of its AI-powered automation to enterprises globally, accelerating intelligent transformation at scale. With HCLTech's deep expertise in AI, automation and industry solutions, UiPath customers will benefit from best-in-class implementation and business impact,' said Ashim Gupta, Chief Operating Officer and Chief Financial Officer, UiPath. Article content 'By co-creating next-gen AI-powered solutions with UiPath, HCLTech is setting new benchmarks for agentic autonomous operations that unlock unprecedented efficiency, agility and innovation for enterprises. Our proven expertise in hyperautomation, AI and cloud-first architectures helps us provide industry-specific and advanced automation solutions at scale,' said Raghu Kidambi, Corporate Vice President and Global Head, Digital Process Operations, HCLTech. Article content HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending March 2025 totaled $13.8 billion. To learn how we can supercharge progress for you, visit Article content Article content Article content Article content Article content Contacts Article content For more information, please contact: Article content HCLTech Meredith Bucaro, Americas meredith-bucaro@ Article content Elka Ghudial, EMEA Article content Article content Article content
