TCS REVENUE DECLINE
Uncertainty hits IT, hiring demand falls 10% in August
Hiring at India's IT services companies has slowed since the start of the second quarter and the trend is likely to continue, according to staffing firms. In the current quarter that ends on September 30, there has so far been a 2-3% decline in demand for legacy tech jobs, but hiring has been strong for specialised roles involving artificial intelligence (AI), machine learning (ML), cloud, data and cybersecurity.
Urban Company's Rs 1,900-crore IPO; Google's Chrome win
Urban Company is set to ride to Dalal Street, with its Rs 1,900-crore issue next week. This and more in today’s ETtech Top 5.
Sensex jumps over 300 pts, Nifty tops 24,500 as IT stocks, banks advance on upbeat GDP, U.S. court's ruling
Indian markets traded higher on Monday, fueled by strong GDP data and a U.S. court ruling on Trump's tariffs. Sensex and Nifty saw gains, particularly in the IT and financial sectors. While India's GDP growth exceeded expectations, concerns remain about the potential impact of U.S. trade policies on future business activity.
IT expands Australia, Middle East, Nordic revenue streams to cut US drama
Indian IT firms are strategically diversifying revenue streams beyond the US market, targeting regions like Australia, the Middle East, and the Nordics through new centers and acquisitions. This expansion addresses rising technology spending in these areas and mitigates risks associated with US market volatility and visa challenges. Companies are also bolstering cybersecurity and consulting capabilities to meet growing regional demands.
Sensex jumps over 200 pts, Nifty tops 27,900 as Reliance, IT stocks lead rally
Indian stock markets started the week positively. Sensex and Nifty both saw gains at the opening. Reliance Industries and IT sector stocks contributed to this upward trend. This mirrored positive movements in Asian markets. The positive sentiment followed signals from U.S. Federal Reserve Chair Jerome Powell. He hinted at a possible interest rate cut next month. This boosted investor confidence.
Ahead of Market: 10 things that will decide stock market action on Thursday
Indian markets extended gains for a fifth session on Wednesday, driven by IT stocks and strong domestic inflows. Nifty closed above 25,000 as investors awaited cues from the U.S. Federal Reserve’s Jackson Hole symposium.
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FII selling crosses Rs 50,000 crore in IT stocks in 2025. Is tech dead money or just misunderstood?
FIIs have heavily sold Indian IT stocks in 2025, causing a significant downturn and making it the worst-performing sector. Disappointing earnings and layoffs have fueled the sell-off, impacting major companies like TCS. While valuations are now more attractive, analysts are cautiously optimistic, suggesting a potential tactical bounce but emphasising the need for a new technology cycle for a sustained recovery.
NIIT Q1 profit dips 44 pc to Rs 4.3 cr; revenue rises 2 pc to Rs 84.1 cr
Skills and talent development firm NIIT Ltd on Friday posted a 43.6 per cent decline in consolidated net profit to Rs 4.37 crore in the April-June quarter due to headwinds from a turbulent environment in the technology and BFSI sectors.
Tata stocks lose over Rs 8 lakh crore in 11 months. Is it time to revisit your portfolio allocations?
Tata Group's market capitalization plummeted by over Rs 8.25 lakh crore in 11 months due to global economic uncertainties and sector-specific challenges. Major stocks like TCS, Tata Motors, and Trent experienced significant declines, impacting overall group performance. While some stocks showed resilience, the substantial value erosion prompts investors to reassess their portfolio allocations.
FIIs just pulled out $4 billion from 5 sectors. Should you join the selling spree?
Foreign institutional investors triggered a significant selloff of $4.17 billion in July, heavily impacting Indian equity markets, particularly the IT sector, which saw outflows exceeding $2 billion. Disappointing Q1 results and global economic headwinds fueled the selling pressure across financials, realty, and auto sectors.
Mid-tier IT pips big five in Q1 via strong deal conversions, AI efficiencies
Mid-tier Indian IT firms like Coforge, Mphasis, and Persistent outpaced top-tier peers in Q1 FY26 with strong deal wins, AI-led productivity, and sector-specific tailwinds. While industry growth slowed, mid-tier players posted 20% YoY revenue growth on average, outperforming top-tier firms' 1.5%, despite cautious client spending and hiring trends.
Muted Q1 earnings point to weakening micro: Is the easy money phase over?
At the halfway mark of the earnings season, results from BSE 500 firms show a weak trend. Key sectors like banking and IT report rising stress and slowing growth. Despite robust monsoon hopes and government capex plans, economic recovery appears uneven, urging investors to shift focus to stock-specific opportunities.
Mastek not looking at any staff reduction; attrition has reduced workforce: CEO
The company has seen a reduction in the overall staffing to 4,800 from 5,500 a year-ago due to attrition and has not replaced many of the roles, its chief executive Umang Nahata said.
Dilip Buildcon shares zoom 7% after Q1 profit surges 94% YoY to Rs 271 crore
Dilip Buildcon share price: Dilip Buildcon's Q1FY26 profit surged 94% YoY to Rs 271 crore, aided by improved margins and exceptional gains. Despite a 16% revenue dip, strong execution in road and mining projects and a Rs 13,695 crore order book support the outlook.
Not just TCS: Q1 results destroy midcap IT's last standing heroes
Midcap IT companies are facing a downturn, mirroring the struggles of their largecap counterparts. Q1 earnings revealed topline misses and cash flow issues, exacerbated by cautious client spending and project delays. While some analysts remain optimistic, concerns persist about valuations and the lack of a clear earnings upgrade cycle, leading to a mixed outlook for the sector.
Cover short positions, a break above 24,890 needed to confirm bullish reversal: Vinay Rajani
Vinay Rajani of HDFC Securities suggests covering short positions in Nifty as it reaches a crucial support zone between 24,500-24,600, indicating an oversold condition. While the overall trend remains weak, a break above 24,890 could signal a bullish reversal. Rajani recommends Rallis India and JSW Steel as potential buys, citing positive results and technical setups.
Trent, TCS shares worst Nifty performers in 2025. Why 2 Tata stocks are down at least 25% this year
Trent’s sharp growth slowdown has prompted analyst downgrades. Nuvama cut the stock to ‘Hold’ and slashed its FY26/27 estimates and target price. HSBC trimmed its target too, citing a weaker-than-expected Q1. With both Trent and TCS under pressure, the Tata Group is facing rare underperformance, highlighting how even blue-chip names are vulnerable to shifting market dynamics.
TCS slumps 33% from peak. Is the correction an opportunity in disguise?
TCS shares: TCS posted a net profit of ₹12,760 crore for Q1FY26, marking a 6% year-on-year increase and surpassing market expectations. Revenue grew by 1.3% YoY to ₹63,437 crore; however, revenue in constant currency terms fell by 3.1%, primarily due to a significant scale-down of the BSNL contract.
TCS revenue to slow sharply in FY26, says Elara as it downgrades stock and cuts target price
Elara Capital downgraded TCS to ‘accumulate’ from ‘buy’ and cut its target price, citing weak FY26 revenue outlook, subdued discretionary spending, and macro headwinds. Q1FY26 revenue and margins disappointed, while India business plunged sharply. Despite challenges, AI-led services showed traction, with 114,000+ employees trained in advanced AI skills.
TCS layoffs: IT major to mass fire 12,000 senior, mid-level staffers amid AI push
TCS job cuts: Tata Consultancy Services (TCS) plans to lay off approximately 2% of its workforce, impacting over 12,000 employees, due to macro uncertainties and AI-driven disruptions. The company will provide severance packages, outplacement services, and extended benefits to affected employees. This decision follows a decline in job additions across major IT firms and strategic initiatives by TCS to realign its workforce.
Nifty on track to record worst July since 2019. August becomes make-or-break battle
Indian equities face their worst July since 2019, dragged down by disappointing Q1 earnings, especially in the IT sector, and delays in the India-US trade deal. Despite FII outflows, domestic support and technical levels suggest a potential August recovery. Analysts eye trade deal progress and improved earnings guidance as key catalysts for a rebound.
TCS axes 12,000 jobs; Ola loses steam in EV race
Happy Monday! India’s largest software exporter is trimming 2% of its workforce as demand woes persist. This and more in today’s ETtech Morning Dispatch.
India's top IT cos wrap up Q1 with single-digit topline growth
India's leading IT firms experienced single-digit revenue growth in Q1, impacted by macroeconomic instability and delayed client decisions. While caution prevails due to geopolitical tensions, opportunities in AI and cost optimization exist. Infosys raised its FY26 revenue growth guidance, while Wipro focuses on immediate-impact initiatives amid muted demand.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Top six IT firms saw staff additions plunge 72% in Q1
Among the largest software service providers, only two including the top two leaders Tata Consultancy Services (TCS) and Infosys reported an increase in workforce by 5060 and 210 people between April and June. The remaining four - HCLTech, Wipro, TechM and LTIMindtree - witnessed a cumulative dip of 1,423 people.
Coforge misses estimates, posts 138% YoY jump in Q1 profit; revenue surges 50%
Coforge's June quarter net profit surged 138% YoY to Rs 317 crore, despite missing analyst estimates. Revenue also saw substantial growth, exceeding 54% in both rupee and dollar terms. The company secured a significant $1.56 billion deal with Sabre and five other large deals. While the Americas business and travel sector drove growth, the banking sector experienced a slight decline.
Infosys profit surges 8.7% on deals, Europe show
Infosys raised its lower-end growth forecast for the fiscal, with revenue expected to expand between 1% and 3% from the earlier 0-3%. The company is also gaining from increased adoption of artificial intelligence, top executives said. AI programmes are improving productivity between 5% and 15% and this is being partly passed on to customers, according to CEO Salil Parekh who struck an optimistic note at the company’s post earnings call on Wednesday.
Tata Group doubles revenue, triples profit and market cap in five years with Rs 5.5 lakh crore ‘future fit’ push: N Chandrasekaran
Over the past five years, the Tata group has significantly enhanced its financial performance, with revenue nearly doubling and net profit more than tripling, reaching ₹15.34 lakh crore and ₹1.13 lakh crore respectively in FY25. This growth, accompanied by a substantial increase in market capitalization to ₹37.84 lakh crore, is attributed to a ₹5.
Infy's steady Q1; Myntra under ED lens
Infosys raised its revenue guidance for the current financial year after stable financial results in the April-June quarter. This and more in today's ETtech Top 5.
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