Jefferies has downgraded Indian information technology (IT) companies Infosys, HCLTech, and Mphasis to "hold"; LTI MindTree, Tata Consultancy Services (TCS) and Hexaware to "underperform", citing artificial intelligence (AI)-related concerns. Coforge, Sagility and IKS, however, still remain its top picks.
Hexaware Technologies Ltd decided to 11,871 shares of Rs 10 each under and employee stock option sceme.
Hexaware Technologies Ltd on Thursday said that it has opened a European development centre at Bad Homburg in Germany.
IT major, Hexaware Technologies, plans to hire 400-500 fresh engineers in the current calendar year, a top company official said.
The Nifty IT index hit a more than nine-month low, trading at its weakest level since April 17, 2025.
...compared with 153,000 in all of 2024.
Hexaware Technologies Ltd board will meet on February 17 to consider audited financial results for the year ended December 31, 2002.
Hexaware Technologies Ltd will publish the audited results within a period of three months from the end of the last quarter of the financial year i.e. December 31.
2025 has seen a sharp rise in lawsuits targeting IT services and consulting companies, which now increasingly offer proprietary digital platforms and cloud services.
The Chennai-based Hexaware Technologies has received a multi-million dollar contract from a US-based customer to provide human resource solutions.
IT stocks dropped in morning trade on Monday, with Tech Mahindra tumbling over 6 per cent, amid concerns over the steep hike in US H-1B visa fees. Shares of Tech Mahindra tumbled 6.45 per cent, LTI Mindtree slumped 5.61 per cent, Persistent Systems dropped 5.51 per cent, Hexaware Technologies tanked 5.14 per cent and HCL Tech fell by 4.24 per cent on the BSE.
Hexaware Technologies Ltd posted a net profit of Rs 74.12 million for the quarter ended December 31, 2002 where as it had posted a net loss of Rs 84.71 million for the quarter ended December 31, 2001.
'What is working is quality management, great teams, engineers, platforms, and highly differentiated services.'
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
Defying an overall sluggish market sentiment, IT stocks on Wednesday rose by up to 4 per cent amid the rupee sinking to a life low of 68.75 against the dollar.
IT stocks on Wednesday rose as much as 3 per cent in an otherwise weak stock market after sentiments turned buoyant amid the rupee sinking to an all-time low of 60.35 against the dollar, as the stronger US currency boosts the sales of software firms in rupee terms.
IT stocks attracted robust demand on Monday, rising by as much as over 2 per cent, on hopes that the rupee's weakness will boost dollar revenues of the software firms.
Shares of Infosys surged almost 7 per cent on Friday after the IT major reported a 13 per cent growth in consolidated net profit for the quarter ended December 2014.
Infosys forecast a 10.8-12.3 per cent sales growth in the US dollar terms for 2016-17.
BSE Bankex, Healthcare, Capital Goods and Consumer Durables ended higher.
IT stocks saw massive selling pressure on Monday, falling as much as 6 per cent, after the rupee surged to 58.37 against the US dollar intra-day.
Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
First sequential decline in a decade as 8 of top 15 software firms report drop in manpower
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In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
Mindtree, eclerx and Hexaware are trading at similar valuations to that of the larger peers.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
Most of the large mid-caps share similar business model as the large-caps and have more of less similar set of clients.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
Canada and Mexico emerge as preferred destinations to service clients in the US; east Europe and Nordic nations are favoured alternatives
While there has been an improvement in the overall demand environment, the other reason expected to trigger this growth is the absence of a bench strength in most companies
TCS kicked-off the Q1FY17 earnings season for information technology companies on Thursday.
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
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Infosys, TCS, HUL and Reliance Industries were the top gainers of the day.
ONGC was the top gainer which surged over 4% followed by Axis, SBI, CIL
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