News

CEO transition announced as AI services hit 8.2% of revenue with double-digit growth.

Infosys (NYSE:INFY) announced a planned CEO transition alongside first-quarter results that showed modest constant-currency revenue growth, strong large-deal bookings and accelerating artificial intelligence-related revenue, while management lowered the top end of its full-year revenue growth outloo

By Haripriya Suresh and Bharath Rajeswaran BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure,

India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and ‌global geopolitical turmoil continue to weigh on growth, nine brokerages said. The April-to-June quarter is usually ‌a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a ​slow start to the fiscal year that would push back hopes of a recovery. India's largest IT services company, Tata Consultancy Services, kicks off earnings on Thursday with peers Infosys, HCLTech and Wipro reporting later this month.

Investing.com -- India is seeking lower tariff rates than competing nations before moving ahead with a long-awaited trade agreement with the United States, Bloomberg reported, citing comments from Commerce and Industry Minister Piyush Goyal.

India's Nifty IT index slumped 5.6% on Friday after industry ‌bellwether Accenture forecast quarterly sales below ‌Wall Street view and lowered the upper end of its ​annual revenue outlook due to weakness in its Middle East business. Shares of Indian IT companies, including Tata Consultancy Services, Infosys, and HCL Tech fell ‌between 5% and ⁠8%. India's $315 billion IT sector has faced investor concerns that AI could disrupt ⁠its traditional, labour-intensive business model.

A number of stocks fell in the afternoon session after the Federal Reserve held its benchmark rate at 3.5%–3.75%, where it sat since the central bank cut by three-quarters of a point in late 2025, while its dot plot signaled the easing cycle might reverse.

Hyderabad-based Electronics Mart India is looking to diversify away from the technology hub as concerns grow that potential AI-triggered ‌job losses could hurt consumer spending, a top executive said. The retailer gets ‌about 60% of its revenue from Hyderabad, which hosts offices of global companies such as JPMorgan Chase ​and Eli Lilly, and Indian IT majors Wipro and Infosys. Around a fifth of its stores in Hyderabad are located in neighbourhoods where the majority of the residents are software employees.

Investing.com -- U.S. Secretary of State Marco Rubio arrived in India on Saturday on an official diplomatic mission to repair bilateral ties strained by trade tariffs and shifts in Washington’s regional foreign policy, Reuters reported.

Radcom (NASDAQ:RDCM) reported a stronger first quarter of 2026, with management highlighting revenue growth, expanded profitability and continued investment in AI-driven telecom service assurance. Chief Executive Officer Benny Eppstein said the company delivered revenue of $18.6 million in the quar

India's IT shares fell to a three-year low on Tuesday as investor jitters around the threat posed by artificial intelligence to flagship IT firms flared ‌up again, after OpenAI announced a new AI venture. The Nifty IT index fell 3.6% to ‌its lowest since May 2023, with Tata Consultancy Services, Infosys, HCL Technologies and Wipro falling between 2.5% and 4%. Analysts at HSBC ​said in a Tuesday note that India's top-tier IT firms largely failed to meet street expectations for earnings in March quarter as well as in their outlooks for the new financial year, adding that strong spending globally on AI could be "crowding out" demand for traditional IT services.