October 03, 2025 to November 02, 2025 (30 days) News Period
Total Articles Found: 85
Search Period: October 03, 2025 to November 02, 2025 (30 days)
Last Updated: November 02, 2025 at 10:24 AM
News Review for hcltech
HCLTech News Review
Executive Summary
HCLTech demonstrated strong operational and financial performance during this period, achieving the highest quarterly margin improvement among major Indian IT firms with a 110 basis points increase to 17.4% operating margin in Q2 2025-26, driven by its Project Ascend margin expansion program that contributed 50 basis points through strategic offshoring initiatives (source). The company established itself as the first Indian IT firm to report standalone AI revenue, generating $100 million in Q2 FY26 representing 3% of total revenues (source), while posting 10% year-over-year revenue growth and raising its services revenue guidance from 3-5% to 4-5% (source). Strategic partnerships expanded with Dubai Islamic Bank for AI integration in banking services (source) and a new contract with Just Energy for operational enhancement (source), while the company received dual finalist recognition at Cisco's Customer Achievement Awards for AI Infrastructure Innovation and Digital Resilience (source). HCLTech also continued workforce expansion by adding 2,000-4,000 employees and onboarding over 5,000 freshers in Q2FY26 (source), while launching the third edition of its Climate Action Grant program with $1 million in funding across 10 countries in the Americas (source).
Key Developments
Financial Performance: HCLTech reported exceptional financial results with 10% year-over-year revenue growth in Q2, leading the IT services sector recovery alongside Infosys (source). The company achieved the highest quarterly margin improvement among major Indian IT firms at 110 basis points, reaching 17.4% operating margin through its Project Ascend program (source). HCLTech became the first Indian IT firm to report standalone AI revenue of $100 million in Q2 FY26, representing 3% of total revenues (source).
Strategic Partnerships: The company formed a partnership with Dubai Islamic Bank to integrate AI into banking operations, providing access to HCLTech's full-stack AI portfolio and global technology partnerships (source). HCLTech was selected by Just Energy, a major US energy supply company, to enhance operations and customer service delivery (source).
Product and Service Developments: HCLTech launched Project Ascend, a margin expansion program focusing on strategic offshoring and global delivery model optimization (source). The company is developing IP-led AI solutions built on intelligence layers from OEMs like OpenAI and Nvidia (source).
Organizational Updates: HCLTech expanded its workforce by adding 2,000-4,000 employees in Q2FY26 and onboarded over 5,000 freshers (source).
Corporate Social Responsibility: The company launched the third edition of its Climate Action Grant in the Americas, allocating $1 million to three non-profits across 10 countries (source).
Market Context
HCLTech's performance occurs within a recovering IT services market emerging from a three-year technology spending slowdown, with the BFSI sector leading the revival in North America and Europe (source). The company operates in the expanding Asia Pacific BPO market projected to reach $178.74 billion by 2033 with a 9.67% CAGR (source). Legacy modernization deals now represent 25-35% of new deal activity for major IT firms, up from 15-20% three years ago, driven by AI transformation initiatives (source). Indian IT firms benefit from higher P/E valuations (18-25 range) compared to US-listed peers, providing sustained val
Individual Articles
Article 1: Happiest Minds sees GenAI reaching double‑digit revenue share in three years
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Summary
HCLTech reported advanced AI quarterly revenue exceeding $100 million in the September quarter, accounting for 2.7% of total sales, making it the second Indian IT firm to disclose specific AI-related revenue figures in the $283 billion sector. This disclosure positions HCLTech as an early mover in AI revenue transparency and establishes a benchmark for AI monetization, with competitors like Happiest Minds subsequently announcing their own AI revenue forecasts and targets.
Article 2: India's Happiest Minds sees GenAI reaching double‑digit revenue share in three years
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Summary
HCLTech reported advanced AI quarterly revenue exceeding $100 million in the September quarter, accounting for 2.7% of total sales, making it the second Indian IT firm to disclose AI-specific revenue figures. This disclosure comes as the Indian IT sector experiences increased client demand for AI services, with competitors like Happiest Minds projecting double-digit AI revenue shares within three years. HCLTech's early AI revenue quantification positions the company as a benchmark in the sector's AI monetization efforts.
Article 3: Cloud Computing in Aerospace, Defense, and Security Intelligence Report 2025: Focus on Dismantling Data Siloes and Addressing Security Concerns Will Be Crucial to Address Geopolitical Threats
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Summary
HCLTech appears in a market research report as one of the cloud computing providers serving the aerospace, defense, and security sector, operating in a market projected to reach $1.8 trillion by 2029. The company is listed alongside major competitors including Amazon, Microsoft, Google, and IBM in a sector where cloud adoption faces challenges from security concerns and legacy systems, requiring providers to address data siloes while maintaining system security to respond to geopolitical threats.
Article 4: Top Technology Executives Recognized at the 2025 Arizona ORBIE Awards
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Summary
HCLTech served as a Silver Sponsor at the 2025 Arizona ORBIE Awards ceremony, which recognized top technology executives from major Arizona organizations including City of Scottsdale, Arizona Cardinals, Mesa Airlines, Allstate Identity Protection, and Concentra. The sponsorship represents a routine marketing investment to maintain visibility among C-suite technology leaders in the Arizona market, with the event drawing nearly 400 attendees at the Westin Kierland Resort.
Article 5: Promise of valuation parity with peers drawing Cognizant to Indian exchanges
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Summary
The article discusses Cognizant's exploration of an Indian listing to capture higher valuations, with Indian IT peers including HCLTech trading at P/E ratios of 18-25 compared to Cognizant's 16.59 on Nasdaq. This valuation arbitrage demonstrates the premium that Indian markets assign to domestic IT services companies, reinforcing HCLTech's strategic advantage from its Indian market presence. The development highlights how market positioning and listing geography continue to influence IT services company valuations despite comparable business fundamentals.
Article 6: Asia Pacific Business Process Outsourcing (BPO) Forecast Report 2025: A $178.74 Billion Market by 2033, Driven by Digital Transformation, Cost Savings, and the Increasing Use of AI-based Outsourcing
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Summary
HCLTech secured a contract with Just Energy, a major US energy supply company, in June 2025 to enhance operations and customer service delivery, demonstrating the company's ability to win business in the expanding Asia Pacific BPO market. The company is positioned among key players including Accenture, Infosys, and Wipro in a market expected to grow at 9.67% CAGR to reach $178.74 billion by 2033, driven by digital transformation and increasing adoption of AI-based outsourcing solutions.
Article 7: IT firms have found a workaround H-1B visa hike. And it's boosting margins.
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Summary
HCLTech reported the highest quarterly margin improvement among major Indian IT firms with a 110 basis points increase to 17.4% operating margin in Q2 2025-26, driven by its Project Ascend margin expansion program that contributed 50 basis points through higher utilization and strategic offshoring. CFO Shiv Walia attributed the gains to the company's global delivery model that strategically increases nearshore and offshore locations, helping counter the H-1B visa fee hike from $1,000 to $100,000 annually. This operational efficiency improvement positions HCLTech ahead of competitors like Tech Mahindra (100bps increase) and Persistent Systems (80bps increase), demonstrating the company's ability to adapt to regulatory challenges while serving major US clients including Microsoft, Apple, and JPMorgan Chase.
Executive Insights
Shiv Walia, HCLTech Chief Financial Officer
"Project Ascend helped us obtain 50bps gain from a higher utilization during the quarter"
Context: Discussing margin improvements during October 13 analyst call
Significance: Quantifies the direct impact of HCLTech's strategic margin expansion program on financial performance
Article 8: Cisco Customer Achievement Awards: APJC 2025 Finalists
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Summary
HCLTech achieved finalist status in two categories at Cisco's inaugural Customer Achievement Awards for the APJC region, recognized for AI Infrastructure Innovation and CX Distinguished Digital Resilience, with executive Ramana SV also nominated for CX Customer Hero of the Year. The recognition positions HCLTech alongside major competitors including Cognizant and LTIMindtree Limited in Cisco's partner ecosystem, validating the company's capabilities in AI infrastructure transformation and digital resilience services. Winners will be announced at Cisco Live Melbourne on November 10, 2025.
Article 9: Can Nifty break records this week? Here’s what the charts say
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Summary
HCLTech is among major IT companies expected to face continued profit booking pressure in the short term, according to market analysis by Geojit Investments. The company was grouped with TCS, Infosys, Wipro, Tech Mahindra, and LTIM as stocks likely to experience further selling pressure despite the IT sector's overall positive weekly trend. While 70% of IT stocks witnessed long unwinding on Friday, analysts noted that 20% recorded favorable support indicators, and the broader sector maintains potential for recovery toward the 37,600 index level as bulls may regroup soon.
Article 10: Ecomm’s festive fiesta; Lenskart IPO this week
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Summary
HCLTech reported 10% year-over-year revenue growth in Q2, leading the IT services sector recovery alongside Infosys as the industry emerges from a three-year technology spending slowdown. The company improved operating margins through higher offshore delivery, favorable currency movements, and cost cuts, while benefiting from renewed spending by financial services clients on AI projects and digital transformation initiatives. This positions HCLTech favorably as the market shows early signs of broader recovery, with most IT players raising guidance for the remainder of the year.
Article 11: Indian IT sees pockets of H2 recovery in US, EU as BFSI revs up
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Summary
HCLTech emerged as a performance leader in the recovering Indian IT services market, posting sequential revenue growth exceeding 5% and year-over-year gains of more than 10%, prompting the company to raise its services revenue guidance from 3-5% to 4-5%. The company became the first Indian IT firm to report standalone AI revenue, generating $100 million in Q2 FY26 representing 3% of total revenues, demonstrating successful monetization of AI capabilities while the broader industry focuses on productivity gains. HCLTech's strong performance coincides with BFSI sector recovery in North America and Europe, where banks are reporting record earnings and increasing technology spending, positioning the company to capitalize on renewed momentum in this key vertical.
Article 12: Top Technology and Security Executives Recognized at the 2025 SoCal ORBIE Awards
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Summary
The article covers the 2025 SoCal ORBIE Awards ceremony recognizing technology executives from various organizations. HCLTech is mentioned only as a Bronze Sponsor of the event, with no specific news, developments, or strategic information about the company provided in the content.
Article 13: Third Edition of HCLTech Climate Action Grant in the Americas to Award $1 Million for Innovation to Address Climate Crisis
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Summary
HCLTech announced the third edition of its Climate Action Grant in the Americas program, allocating $1 million to three non-profits across 10 countries including Argentina, Brazil, Canada, Colombia, Costa Rica, Guatemala, Mexico, Panama, Peru and the U.S. The program, launched in 2023 with a five-year $5 million commitment, has previously awarded $2 million to six organizations, supporting initiatives that have empowered over 1,400 young people and educators and restored 88 acres of longleaf pine forest. Applications are open from October 24, 2025 to January 24, 2026, with winners to be announced on World Environment Day, June 5, 2026.
Executive Insights
Dr. Nidhi Pundhir, Senior Vice President, Global CSR, HCLTech
"The HCLTech Climate Action Grant in the Americas has received an overwhelming response from organizations bringing fresh thinking and deep local insight to climate action. The diversity of ideas and the passion driving these projects reaffirm our belief that innovation and collaboration are key to shaping climate action. As we enter the next phase, we remain committed to partnering with changemakers who are shaping sustainable solutions for their communities and beyond"
Context: Discussing the third edition of HCLTech's Climate Action Grant program
Significance: Indicates HCLTech's strategic commitment to sustainability initiatives and corporate social responsibility positioning
Article 14: All You Need To Know Going Into Trade On Thursday
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Summary
HCLTech was identified as one of the major laggards during Tuesday's volatile trading session in the Indian stock market, alongside other IT services companies including Tata Consultancy Services, indicating sector-wide weakness rather than company-specific concerns during the market's celebration of Samvat 2082.
Article 15: AI is boosting the legacy business for top Indian IT firms, for now
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Summary
HCLTech reported growth in legacy modernization deals during Q2 2024, with CEO C Vijayakumar highlighting $100-million plus contracts including Ericsson and a European retailer that were not considering such programs a year ago. The company's Q2 revenue grew 2.79% to $3.64 billion, benefiting from increased client willingness to invest in modernization projects previously viewed as discretionary spending. Industry analysts note that while TCS and Infosys maintain higher exposure by volume in legacy modernization, HCLTech is repositioning itself as a transformation partner rather than a maintenance provider, with legacy modernization now representing 25-35% of new deal activity across major IT firms compared to 15-20% three years ago.
Executive Insights
C Vijayakumar, CEO of HCLTech
"I think the biggest demand elasticity is in modernization. While discretionary spend is whatever it is, we are seeing a number of programs which are coming up based on legacy modernization"
Context: Discussing increased client demand during Q2 earnings call on October 13
Significance: Indicates strategic shift toward higher-value modernization services as primary growth driver
C Vijayakumar, CEO of HCLTech
"Like we called out a very large legacy modernization program for Ericsson in our Investor Release and a very large European retailer as well. They were probably not even looking at these programs a year ago"
Context: Explaining client behavior change regarding modernization investments
Significance: Demonstrates concrete business wins and market timing advantage in legacy modernization
Article 16: Dubai Islamic Bank forges alliance HCLTech to integrate AI
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Summary
HCLTech has partnered with Dubai Islamic Bank to integrate AI into the bank's operations, providing access to HCLTech's full-stack AI portfolio and global technology partnerships. The collaboration focuses on enhancing personalized customer interactions, decision-making processes, risk management, and regulatory compliance through responsible AI application. HCLTech Middle East country head Vineet Shukla emphasized the company's AI capabilities and domain expertise in delivering customer experience improvements, positioning HCLTech as an AI transformation partner for financial institutions in the Middle East banking sector.
Executive Insights
Vineet Shukla, HCLTech Middle East country head
"By leveraging HCLTech's full-stack AI portfolio and deep domain expertise, we look forward to collaborating with DIB to unlock innovation, enhance operational agility and deliver differentiated experiences for customers."
Context: Discussing the partnership with Dubai Islamic Bank
Significance: Highlights HCLTech's AI portfolio capabilities and focus on customer experience enhancement
Article 17: TCS AI breakout stands out as peers meld AI into existing services models
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Summary
HCLTech distinguished itself among India's top IT services companies by becoming the first to report separate AI revenue of $100 million, while pursuing an IP-led AI strategy that builds on intelligence layers from OEMs like OpenAI and Nvidia rather than competing directly on R&D. This approach contrasts with competitors like TCS's $6.5 billion data center investment and Infosys's enterprise AI focus, with analysts viewing HCLTech's strategy as targeting a market 'sweet spot' that avoids massive infrastructure commitments while still enabling AI monetization.
Article 18: DIIs Start Samvat 2082 With Rs 607-Crore Net Selling; FPIs Stay Buyers
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Summary
HCLTech was identified as one of the major laggards during the Diwali Muhurat trading session on October 21, 2025, alongside other large-cap stocks including fellow IT services company TCS. The underperformance occurred during a highly volatile one-hour ceremonial trading session that marked the beginning of Samvat 2082, with both major IT services players facing similar market headwinds during this traditionally auspicious trading period.
Article 19: Tech majors keep count up despite one outlier
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Summary
HCLTech added 2,000-4,000 employees in Q2FY26 and onboarded over 5,000 freshers, positioning itself among the growth-oriented IT firms during a period of industry restructuring. While TCS reduced its workforce by nearly 20,000 employees, HCLTech joined four other major IT companies in collectively adding over 20,000 employees, reflecting the company's commitment to scaling operations and building capabilities for future technology needs including AI and automation projects.
