Author: Sreelatha M

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Corporate

HCLTech Q1 profit jumps 20% to ₹4,624 cr

HCLTech reported a 20% year-on-year rise in consolidated net profit for the first quarter of FY27, with earnings increasing to ₹4,624 crore, reflecting resilient demand for its technology services despite continued uncertainty in global markets.

The company’s revenue also registered healthy growth during the April-June quarter, supported by steady client spending across digital transformation, engineering, cloud and artificial intelligence (AI)-led services. HCLTech said strong execution and disciplined cost management helped improve profitability during the quarter.

The IT major continued to secure new client deals, with management highlighting a healthy pipeline of large transformation projects across industries. Demand remained particularly strong for AI-driven solutions, cloud migration and engineering services, areas that have become priorities for businesses looking to modernise operations.

Commenting on the results, Chief Executive Officer C. Vijayakumar said the company delivered a solid start to the financial year despite macroeconomic challenges. He noted that clients remain focused on long-term technology investments aimed at improving efficiency and accelerating digital adoption.

HCLTech maintained its revenue growth guidance for the full financial year, expressing confidence that continued investments in AI, software and digital services would support future growth. The company also reiterated its operating margin guidance, signalling expectations of stable financial performance over the coming quarters.

The results come at a time when global IT companies continue to navigate cautious enterprise spending amid economic uncertainty. However, spending on artificial intelligence, automation and cloud technologies has remained relatively resilient, benefiting companies with strong digital capabilities.

Market participants welcomed the earnings, viewing the profit growth as a sign of HCLTech’s operational strength and diversified business model. Analysts said the company’s healthy deal wins and improving margins position it well for sustained growth even as clients remain selective about discretionary technology spending.

With businesses increasingly adopting AI-powered solutions and digital transformation initiatives, HCLTech expects demand for advanced technology services to remain strong. The company believes its broad portfolio, global client base and focus on innovation will help it maintain momentum through the rest of the financial year.

Also Read: SK Hynix shares slide 8% after Nasdaq debut

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Corporate

SK Hynix shares slide 8% after Nasdaq debut

Shares of South Korean memory chip maker SK Hynix fell sharply a day after their blockbuster Nasdaq debut, as investors locked in profits following a strong first day of trading.

The company’s American Depositary Receipts (ADRs) dropped by more than 9% in US trading, while SK Hynix shares in South Korea also declined, reflecting profit-booking after the stock’s impressive market debut. Despite the pullback, analysts said the decline was largely driven by short-term trading activity rather than concerns about the company’s fundamentals.

SK Hynix made a strong debut on the Nasdaq, attracting significant investor interest amid growing optimism about the artificial intelligence (AIa) boom. The company is one of the world’s leading producers of high-bandwidth memory (HBM) chips, a critical component used in AI servers and advanced graphics processors.

The successful listing was seen as another sign of strong global demand for semiconductor companies linked to AI infrastructure. Investors have been increasingly bullish on firms supplying memory chips, as demand continues to rise from technology giants investing heavily in AI data centres.

The company continues to benefit from robust demand for AI memory chips and expects this trend to support future growth. SK Hynix remains well positioned to capitalise on expanding investments in artificial intelligence, cloud computing and high-performance computing.

While the sharp fall surprised some investors, many viewed it as a temporary correction after the initial surge in enthusiasm. The broader outlook for the semiconductor industry remains positive, with AI continuing to drive demand for advanced memory products.

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Corporate

Aditya Birla Group to buy Sprng Energy for $1.8 bn

The Aditya Birla Group has agreed to acquire Shell-backed Sprng Energy Group in a $1.8-billion (around ₹15,000 crore) deal, marking one of the biggest renewable energy transactions in India’s clean power sector.

The acquisition will be carried out through Aditya Birla Renewables, the group’s clean energy platform. Once completed, the deal will significantly expand its renewable energy portfolio and strengthen its position in India’s fast-growing green power market.

Sprng Energy develops and operates large-scale solar and wind power projects across several Indian states. Its portfolio includes operational assets as well as projects under construction, supplying clean electricity to utilities and commercial customers. The acquisition is expected to add substantial renewable generation capacity to Aditya Birla Renewables, helping meet rising demand for green energy.

Shell said the sale is part of its strategy to optimise its global power portfolio while continuing to focus on areas where it has a competitive advantage. The company noted that the transaction aligns with its broader objective of creating value through disciplined capital allocation.

For the Aditya Birla Group, the acquisition supports its long-term commitment to sustainability and the energy transition. The company has been steadily increasing investments in renewable energy to meet its own decarbonisation goals while expanding its clean energy business.

 With the country targeting 500 GW of non-fossil fuel power capacity by 2030, demand for solar and wind assets is expected to remain strong.

The transaction is subject to customary regulatory approvals and closing conditions. Once completed, it will rank among the largest acquisitions in India’s renewable energy industry and further consolidate the sector.

The deal also highlights the increasing pace of consolidation in clean energy, as companies seek to scale up quickly through acquisitions rather than building projects from scratch. For both companies, the agreement represents a strategic step aligned with their evolving business priorities in the global energy transition.

Also Read: Anthropic Claude AI now priced in rupees

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Beyond

Centre nears Fairfax IDBI deal

The Centre is close to accepting a revised financial offer from Canada’s Fairfax Financial Holdings for acquiring a controlling stake in IDBI Bank, bringing one of India’s longest-running bank privatisation plans closer to completion.

People familiar with the discussions said Fairfax has marginally increased its per-share offer after its earlier bid fell short of the government’s undisclosed reserve price. The improved proposal has emerged as the frontrunner in the bidding process and is now under active consideration.

The government and Life Insurance Corporation of India (LIC) together are selling a 60.7 per cent stake in IDBI Bank as part of the strategic disinvestment programme launched in 2022. While the Centre owns 45.48 per cent of the lender, LIC holds 49.24 per cent. The transaction would mark the largest government-backed sale of a majority stake in an Indian bank in recent years.

Apart from Fairfax, Dubai-based Emirates NBD has also submitted a revised bid. Government sources said a high-level panel has already reviewed the fresh offers, with the evaluation process now in its final stages. Officials expect the stake sale to be completed within the next month, subject to approvals from the Union Cabinet and the Reserve Bank of India.

The privatisation exercise had briefly stalled earlier this year after the initial financial bids failed to meet the government’s valuation expectations. Rather than abandoning the process, authorities invited revised offers, prompting Fairfax to improve its bid. The Canadian insurer had also infused capital into India ahead of the potential acquisition, signalling its continued interest in the deal.

For the government, successfully concluding the IDBI Bank sale would represent a significant milestone in its disinvestment agenda after several years of delays. For Fairfax, founded by Indian-born billionaire Prem Watsa, the acquisition would provide a major foothold in India’s fast-growing banking sector and potentially become one of the country’s largest foreign investments in banking. Investors welcomed the latest developments, with IDBI Bank shares gaining more than three per cent in Tuesday’s trade following reports of progress in the sale process.

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Corporate

TCS restructures business for AI era

Tata Consultancy Services (TCS) has announced a major leadership overhaul as it sharpens its focus on artificial intelligence (AI) and digital transformation. The country’s largest IT services company has created five new global business units, aiming to help clients adopt AI faster while strengthening its own growth strategy.

The restructuring comes as businesses worldwide increase investments in AI-powered technologies and automation. TCS said the new structure is designed to make the organisation more agile, improve decision-making and deliver specialised solutions to customers across industries.

Under the new model, the company has reorganised its operations into five customer-focused business units, each led by senior executives with greater responsibility for growth, innovation and client relationships. The move is intended to simplify operations and enable faster execution in an increasingly competitive technology landscape.

TCS said AI is transforming the way enterprises operate, creating demand for new digital services across sectors such as banking, healthcare, manufacturing, retail and communications. By aligning its leadership around dedicated business units, the company hopes to respond more quickly to changing customer needs and emerging technology trends.

The company also believes the new structure will encourage closer collaboration between teams, improve service delivery and support the development of AI-led business solutions. TCS has been investing heavily in generative AI, cloud computing and automation, viewing these technologies as key drivers of future growth.

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1 Minute-Read

HDFC Bank redeploys staff as technology boosts productivity

HDFC Bank is redeploying employees from backend operations to customer-facing roles as technology and automation improve operational efficiency.

Managing Director and CEO Sashidhar Jagdishan said the bank is not cutting jobs despite increased use of digital tools. Instead, staff whose routine tasks have been automated are being trained for roles involving customer service, relationship management and business development.

He said technology is helping employees become more productive, while human interaction remains crucial for delivering quality banking services. The move reflects the bank’s focus on reskilling its workforce and enhancing customer experience through a balanced use of technology and people.

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Beyond

China suspends Helium exports temporarily

China has temporarily suspended helium exports, a move that could tighten global supplies of the critical industrial gas and raise concerns across sectors ranging from healthcare to semiconductor manufacturing.

The export restriction comes as geopolitical tensions in the Middle East, particularly between the United States and Iran, continue to threaten global supply chains. Industry experts fear that any disruption to helium production and transportation could worsen an already strained market.

Helium is a non-renewable gas used in a wide range of industries. It plays a vital role in MRI scanners, semiconductor manufacturing, fibre-optic production, scientific research, aerospace applications and space launches. Even small disruptions in supply can affect hospitals, technology companies and research institutions worldwide.

China has not announced how long the export suspension will remain in place. However, reports suggest the decision is intended to safeguard domestic supplies amid growing uncertainty over global helium availability. The country is a significant consumer of helium and has increasingly sought to strengthen its strategic reserves.

The latest move comes at a time when the global helium market is already under pressure due to production outages, rising demand and supply bottlenecks. Analysts say the renewed tensions involving Iran have heightened concerns because Qatar, one of the world’s largest helium exporters, relies on shipping routes through the Gulf region. Any disruption to these routes could further reduce supplies.

Market experts warn that prolonged export restrictions could push helium prices higher and create fresh challenges for industries that depend on uninterrupted supplies. Manufacturers of computer chips and medical equipment are expected to closely monitor the situation, while hospitals may also face increased procurement costs if shortages persist.

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Technology

Anthropic brings Reflect dashboard for Claude users

Artificial intelligence company Anthropic has introduced Reflect, a new dashboard designed to help users better understand how they interact with its AI assistant, Claude. The feature gives people a clearer picture of their usage patterns, encouraging them to use AI more thoughtfully rather than simply spending more time with it.

Reflect provides users with insights such as how often they chat with Claude, the types of tasks they rely on the AI for and changes in their usage over time. Instead of focusing on screen time alone, the dashboard is intended to help users recognise whether they are using AI productively for learning, work, creativity or problem-solving.

Anthropic says the goal is to promote healthy AI habits by giving users greater transparency over their interactions. As AI tools become an increasingly important part of everyday life, the company believes people should have better visibility into how these technologies fit into their daily routines.

The launch comes at a time when AI companies are introducing new features to improve user experience while addressing concerns about excessive dependence on artificial intelligence. Reflect is designed to encourage self-awareness rather than maximise engagement, making it different from traditional digital platforms that often focus on increasing user activity.

The announcement has also attracted attention after Elon Musk publicly praised Anthropic’s approach to AI development. Musk described the company positively while reports also indicated that SpaceX is expanding its computing partnership with Anthropic to support AI-related workloads. The development highlights growing collaboration between major technology firms as demand for advanced AI computing infrastructure continues to rise.

Also Read: E20 petrol may cut mileage by up to 5%

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Beyond

E20 petrol may cut mileage by up to 5%

The Centre has admitted that vehicles using E20 petrol could see their fuel efficiency drop by 3% to 5% compared with regular petrol. However, it says the cleaner fuel offers long-term benefits by reducing pollution and cutting India’s dependence on imported crude oil.

According to the Ministry of Petroleum and Natural Gas, ethanol contains less energy than petrol, which explains the slight reduction in mileage. While motorists may need a little more fuel to cover the same distance, the government believes the impact will be limited for most users.

E20 fuel, a blend of 20% ethanol and 80% petrol, is a key part of India’s strategy to promote cleaner transport. Officials say it produces lower emissions, helping improve air quality and reduce the country’s carbon footprint.

The government also highlighted the economic benefits of ethanol blending. Higher ethanol production creates demand for crops such as sugarcane and maize, providing additional income opportunities for farmers while reducing India’s fuel import bill.

Motorists will continue to have the option of using lower ethanol blends depending on their vehicle’s compatibility. The Centre has advised owners of older vehicles to follow manufacturers’ recommendations before switching to E20 fuel.

Despite concerns over mileage, the government says the environmental and economic gains outweigh the small loss in fuel efficiency. It plans to continue expanding ethanol blending as part of India’s clean energy transition while ensuring consumers have suitable fuel choices.

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Beyond

World Bank backs PM Surya Ghar with $890 mn

The World Bank Group has approved $890 million (around ₹7,400 crore) to support India’s PM Surya Ghar: Muft Bijli Yojana, giving a major boost to the country’s efforts to expand rooftop solar power and accelerate the transition to clean energy.

The funding package is expected to help millions of households install rooftop solar systems while strengthening the infrastructure needed to support distributed renewable energy across the country. It will also improve access to affordable electricity, reduce dependence on conventional power sources and contribute to India’s climate goals.

Launched by the Centre earlier this year, the PM Surya Ghar scheme aims to provide rooftop solar installations to one crore households, enabling families to generate their own electricity and lower their monthly power bills. Eligible households receive financial assistance to install solar panels, with many expected to benefit from free or significantly reduced electricity consumption.

According to the World Bank, the programme has the potential to transform India’s residential energy sector by encouraging clean power generation at the household level. The initiative is also expected to create large-scale employment opportunities in manufacturing, installation, maintenance and other solar-related services.

Apart from supporting rooftop installations, the funding will help strengthen power distribution systems, improve grid integration and enhance the capacity of financial institutions involved in financing rooftop solar projects. These measures are expected to make the programme more efficient and ensure faster adoption across urban and rural areas.

Officials said the investment reflects growing international confidence in India’s renewable energy ambitions. The country has set ambitious targets to expand non-fossil fuel energy capacity and achieve net-zero emissions by 2070, with rooftop solar expected to play a key role in meeting future electricity demand sustainably.

The World Bank also highlighted the programme’s broader social benefits, noting that wider adoption of rooftop solar can reduce household energy costs, improve energy security and lower carbon emissions. Increased participation by women-led households, small businesses and local entrepreneurs is also expected to generate inclusive economic growth.

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