Latest news with #RajeshSinha
The Hindu
a day ago
- Business
- The Hindu
Fulcrum Digital to hire 100 more employees for Coimbatore centre
At a time when large Information Technology (IT) companies are gearing up to reduce workforce due to most coding job now being done by Artificial Intelligence (AI) agents and on account of stress in the global economy, Fulcrum Digital, a sub $100 million revenue U.S.-based company has decided to expand its Coimbatore campus by hiring over 100 more people by next year. The company which has deployed hundreds of AI agents across campuses said it was continuing to hire talent with AI agents working side by side with humans to enhance efficiency and ensure quicker delivery to clients. 'We continue on hiring employees. We have not reduced number of employees. However, as programming has improved using AI, 25% to 30% of our programming is now getting enhanced by AI agent. So AI agents are now coding for us. And humans are going to be coexisting with them,' said Rajesh Sinha, Founder & Chairman, Fulcrum Digital in an interview. 'We are maturing on our AI coding journey for our own development work. And we are measuring the percentage of adoption inside the company. That has certainly given a growth because it has given the speed and more value creation in less time. We have also added human workforce to fulfill the demand of our customers,' he added. He said in the company's South India Development Center at Coimbatore the existing employee strength of 50 people team will grow up to 150 people by end of next year. 'We are envisioning in next two years to be 3,000 employees [organization] and I am hoping that from 150 we should go to about 300 to 400 people in Coimbatore. And at that stage we will look for our own campus or building which we can house people there,' he added. 'Apart from people, we also want to add more AI agents. So, I always say that while we become 1,800 people this year, we will have 300, 400 AI agents coexisting with our team members,' he said. He said apart from accelerating the coding, the company would have more AI agents doing the development work. 'Similar approach is happening in Coimbatore. There we will have about 500 people and I am expecting 100 AI agents along with the 500 people doing the work for us,' he added. The company has budgeted about $7 to $8 million for the Coimbatore development centre. According to experts, AI has already started driving charges across business organisations. Munjay Singh, Chief Operating Officer, Tredence, a data science solutions provider said, 'Generative and Agentic AI are no longer experimental; they are driving real change across companies.' 'We are witnessing a clear shift from pilots to controlled productionization, particularly in areas such as marketing operations, supply chain, and sales operations. Agentic workflows are evolving from simple automation to semi-autonomous systems that enhance teams rather than replacing them,' he said. He said by bringing intelligence to the task level, AI tools were making processes self-sufficient and smarter. 'This transformation is being guided by robust governance, human-in-the-loop oversight, and a deep focus on responsible scaling,' he said. 'It's not about cost-cutting—it's about building capability. As AI matures, it's giving rise to hybrid talent models and collaborative ecosystems where humans and intelligent agents thrive together,' he added.
Mint
2 days ago
- Business
- Mint
TCS layoff: Should TCS investors be concerned as company plans to hand pink slips to 12,000 employees? Explained
TCS layoff: A trend majorly seen in large global IT tech giants like Meta, Google and Microsoft, has spread to India too, as domestic IT bellwether Tata Consultancy Services (TCS) has announced plans to hand pink slips to almost 2% of the workforce. TCS layoff, expected to impact 12,261 employees, will largely target those belonging to middle and senior grades. In response to the news, not only just TCS share price tumbled, but its ripple effects were seen on other IT companies as well. Wipro, HCL Technologies and Infosys too felt the impact, declining up to 2% — sending the Nifty IT pack down over 1%. The IT stocks have been out of favour for some time now, given global macro uncertainty and geopolitical tensions are weighing on global tech demand and delaying client decision-making. Analysts believe that TCS layoffs signal deep organisational changes driven by artificial intelligence (AI) and slow global demand rather than a short-term cost cut. "TCS' decision to layoff ~12,200 employees, which is ~2% of its global workforce during FY26 is reflation of both cost optimisation measures and deeper industry challenges. Shifting technology demands can be also a major reason for the layoff," said Rajesh Sinha, Sr. Research Analyst at Bonanza. While TCS has insisted that the layoffs are not primarily AI-driven job cuts or immediate cost-cutting, Sinha said it is an indication that there is significant pressure to stay competitive amid tighter client budgets, demand softness and rising price pressures requiring efficiency improvements. "Growing requirement of automation and evolving client expectations are reshaping workforce structures, forcing companies like TCS to rebalance employee costs and skill sets to maintain margins and becoming "future-ready" through skill re-alignment," said Sinha. During the June quarter of the ongoing fiscal, Indian IT companies have delivered single-digit revenue growth. TCS' consolidated sales in the first quarter rose 1.3% to ₹ 63437 crore, missing analysts' average estimate of ₹ 64666 crore, according to data compiled by LSEG. TCS's revenue in four out of its six verticals fell compared to the same period last year, while banking and financial services' revenue grew 1% and tech services rose 1.8%, according to a Reuters report. Its total order bookings stood at $9.4 billion during the quarter, versus $12.2 billion in the previous quarter and $8.3 billion in the year-ago period. Meanwhile, TCS MD and Chief Executive K Krithivasan recently said the company is experiencing a "demand contraction" due to the continued uncertainties on the macroeconomic and geopolitical fronts, and added that he does not see a double-digit revenue growth in FY26. Harshal Dasani, Business Head, INVasset PMS, is not as concerned about the TCS layoff and sees it as a strategic move and less of a red flag. With a workforce of over 6 lakh, TCS has already slowed hiring considerably in the last year, reflecting shifting demand patterns in its key markets. "This move signals a broader shift in Indian IT — away from headcount-led growth toward efficiency and AI-led delivery models. Rather than signalling stress, this recalibration positions TCS to navigate a lower-growth environment while staying operationally agile," opined Dasani. Given that TCS is the trend setter for the industry, analysts believe that other IT companies could follow suit. Dasani said that performance and profitability will now take precedence over headcount growth now. "It challenges the long-standing perception that Indian IT offers unconditional job security, and it underscores that operating leverage, not just revenue growth, will define sectoral winners in this cycle. Other firms may follow suit, especially as pricing pressure and AI-led delivery transformation gather pace," he added. Sinha also believes that the TCS layoff is expected to increase fears of job insecurity not only in TCS but also across other IT companies, highlighting long-term career stability in IT industry. It also reflects industry challenges like less tolerance for bench time, strict billable day requirements, and increased automation, he opined. According to Sinha, as far as investors are concerned, this challenging sector-wide environment will create pressure on the stock price of major IT companies, including TCS, for a shorter time horizon. However, in the longer term, the implicit growth opportunity of the company will determine prospects of the company. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
7 days ago
- Business
- Mint
Infosys Q1 results preview: PAT, revenue may rise in single digits YoY; should you buy the stock ahead of Q1 earnings?
India's second-largest IT company Infosys is set to announce its Q1 results for the financial year 2025-26 on Wednesday, 23 July. After mixed set of numbers from other IT majors, such as TCS and HCL Tech, focus will be on deal TCVs and pipeline, management commentary on demand outlook, hiring trends, and GenAI deal wins. According to experts, the IT major is likely to post single-digit year-on-year (YoY) growth in both revenue and profit, while its sequential performance may remain subdued. According to the estimates of brokerage firm Phillip Capital, Infosys may report a 5.9 per cent YoY rise in revenue and an 8 per cent rise in profit after tax (PAT). EBITDA may increase 6.5 per cent and EBITDA margin may climb by 13bps YoY. Phillip Capital expects Infosys to report revenue growth of 1.4 per cent QoQ in constant currency (CC) terms on a weaker base of Q4, higher billing days and $15 million contribution (nearly 30bps) from recent acquisitions. Margins, according to Phillip Capital, may remain stable. Headwinds include part wage hike, normalisation of third-party costs offset by lower visa costs, said the brokerage firm. "We expect Infosys to narrow FY26 growth guidance to 1-3 per cent YoY in CC (0-3 per cent earlier). Revised guidance will include nearly 40bps contribution from recent acquisitions. We expect EBIT margins guidance to stay intact at 20-22 per cent," said Phillip Capital. Similarly, brokerage firm Motilal Oswal Financial Services expects a 5.9 per cent YoY rise in revenue and a 4.3 per cent rise in PAT. EBITDA may rise by 5.3 per cent, but EBITDA margin may decrease by 20 bps YoY. "We expect Infosys to upgrade the lower end of its guidance by 100bp to account for inorganic impact (current guide:0-3 per cent CC for FY26, estimated inorganic contribution of 80bp)," said Motilal Oswal. Experts believe Infosys remain a long-term buy due to the company's growth outlook. "We advise investors to keenly watch for Q1FY26 result of Infosys and consider investing in Infosys for a long-term view as the future outlook is promising on account of its deal pipeline, GenAI-driven transformation deals and recent acquisitions," said Rajesh Sinha, Senior Research Analyst at Bonanza. However, some technical experts indicate weakness on charts, which suggests the downtrend may continue. Infosys share price is down about 2 per cent for the current month. Shitij Gandhi, Senior Research Analyst (Technicals) at SMC Global Securities pointed out that Infosys stock has been in a sustained downtrend, trading within a declining channel and consistently staying below its key moving averages. The bearish momentum remains dominant on both daily and weekly timeframes. However, Gandhi highlighted that over the past few weeks, the stock has attempted to hold above its crucial 200-day exponential moving average (EMA), currently positioned at ₹ 1,530 on the weekly chart. Despite this, the broader trend remains negative, with strong resistance expected in the ₹ 1,600–1,700 range. "Given the prevailing structure, we anticipate the downtrend to persist, with a potential acceleration in selling pressure if the stock breaks below the ₹ 1,530 support level," said Gandhi. Similarly, Mandar Bhojane, Senior Technical & Derivative Analyst at Choice Broking, said investors should stay cautious ahead of the results and consider entering only on a breakout above key resistance levels or if the management commentary and guidance remain strong. Technically, Bhojane underscored that Infosys is currently trading in a sideways trend near ₹ 1,574. He said a decisive close above the ₹ 1,600 mark could trigger a potential rally towards ₹ 1,700. On the downside, ₹ 1,540 acts as immediate support, and any bullish reversal from that zone could offer a buy-on-dips opportunity. According to Bhojane, the next major support lies at ₹ 1,500, below which further correction may unfold. "The stock is trading below key EMAs, and the RSI is at 42.5, trending downward—indicating weakening momentum. Despite healthy volume activity, price remains range-bound, suggesting a wait-and-watch approach until a breakout occurs on either side," Bhojane said. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
01-07-2025
- Business
- Mint
Best-performing Nifty 50 stock has risen 48% in first half of 2025: Is it still a stock to buy?
The Indian stock market has emerged resilient in the face of high volatility, which marked the first half of the calendar year 2025. Geopolitical tensions, earnings slowdown and Donald Trump's tariff war failed to deter stock market bulls, resulting in the Nifty 50 gaining almost 7% in the last six-month period. Among the Nifty stocks, too, the gainers outperformed losers, with 32 constituents rising and the rest declining. While IT stocks majorly formed the top loser list, Navratna PSU Bharat Electronics (BEL) emerged as the best performer. BEL share price has jumped nearly 48% in the last six months—driven by strong order pipeline, strong tailwinds for the defence stocks and robust earnings growth. The defence stock has recently been inducted into the benchmark Sensex index, further increasing its lure for investors. Barring January and February, when BEL shares crashed 16% cumulatively, the PSU stock has risen in all other months, gaining as much as 59% during this period. The recent order win update by the company on June 30 pushed it to a fresh record high of ₹ 426 on the NSE today (July 1). Since June 20, BEL said it has bagged orders worth ₹ 528 crore, including for radars, communication equipment, EVMs, jammers, shelters, control centre, spares, services etc, resulting in a strong pipeline for FY26. "As on Q4FY25, its order book stood at ₹ 71,650 crore, three times its FY25 revenue, giving strong execution and revenue visibility going ahead. Recently, BEL has bagged many significant orders, compelling the strong outlook for FY26," said Rajesh Sinha, Sr. Research Analyst at Bonanza. The outlook of Bharat Electronics is very strong on the back of a strong order book and consistent new order inflows, the analyst added. Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, believes that the long-term story for BEL stock remains intact with positive catalysts like continued EPS growth momentum with steady PAT growth of 15–20% CAGR projected over the next two years supported by huge order book which stands at over ₹ 76,000 crore+ (as of Q4 FY25) with healthy execution cycle visibility. In the first quarter of CY 2025, BEL had posted an 18% rise in its net profit to ₹ 2,105 crore, compared to ₹ 1,784 crore in the same period a year ago. Its revenue from core operations rose nearly 7% to ₹ 9,119.7 crore. For FY26, management guided revenue growth of 15% YoY, EBITDA margins of 27% with an order inflow guidance at ₹ 27,000 crore. "BEL's margin guidance appears achievable, supported by rising indigenous content. A strong order pipeline enhances the long-term outlook. We forecast earnings to grow at a 20% CAGR over FY25–27E," said Geojit Financial Services. The brokerage remains bullish on the PSU defence stock, supported by the government's strong emphasis on domestic manufacturing, the growing contribution of electronics in defence applications, BEL's established market leadership, a robust order backlog, and a consistently healthy margin profile. Ministry of Defence's budget for FY26E stands at ₹ 6.81 trillion, a 6.3% year-on-year increase. This, as per analysts, could rise by 10% YoY in FY27F, amid geopolitical tensions, to reach around ₹ 7.49 trillion, which bodes well for defence stocks like BEL. According to Tapse, fresh investors should wait and watch for Q1FY26 earnings presentations. "On valuation perspective based on earnings visibility and order momentum, FY26e forward P/E stands near ~24–25× compared to its historical average of ~20–22× and peer PSU multiples; this isn't excessively overvalued, giving healthy upside from the current levels also," he said. Long-term investors and those looking to make fresh investments can wait for a 5–8% correction before accumulating with a target of ₹ 500 plus, Tapse advised. Anshul Jain, Head of Research at Lakshmishree Investments, advised technical investors to wait for consolidation to make a fresh entry. "BEL rallied strongly after a 194-day rounding bottom breakout at 318, testing a high of 426.5 and now appears extended with a sideways bias, indicating fresh base-building. Traders holding longs can trail their positions with a stop zone at 393–380, which aligns with the short-term support band. If the ongoing momentum persists, the stock can stretch further towards the 475 level in the coming weeks. Overall structure remains bullish, but watch for consolidation phases that may offer fresh entry points," Jain said.
The Hindu
24-06-2025
- Politics
- The Hindu
Mob forces two men to eat animal dung in Sehore, Madhya Pradesh Police register case
The Madhya Pradesh Police have registered a case after a video showing two men being brutally assaulted and forced to consume animal dung by a mob in Sehore district went viral on social media, an official said on Tuesday (June 24, 2025). Doraha police station in-charge Rajesh Sinha told The Hindu that the incident occurred in Dugliwali village, about four to five days ago. The victims have been identified as Shauqat Mehboob and Arif Ali, both residents of Raisen district. 'We do not know what the matter is and why they were assaulted at the moment, but we have taken cognisance of the viral video and established contact with the families of the two victims. They will come to the police station on Wednesday to record their statement,' Mr. Sinha said, adding that further action would be taken based on their testimonies. In the 46-second clip, the two men are seen sitting in mud, tied up with ropes and surrounded by a mob that is physically assaulting them and coercing them into eating animal dung. One of the victims appears to be wearing a salwar over his clothes. Mr. Sinha confirmed that a case has been registered under Sections 296, 115(2), 118(1), and 3(5) of the Bharatiya Nyaya Sanhita (BNS). Meanwhile, the office of the Superintendent of Police posted on X (formerly Twitter): 'Under the jurisdiction of Doraha police station, following an incident of assault on two youths and the emergence of an objectionable video, the police have taken suo motu cognisance, registered an FIR, identified the accused, and are proceeding with legal action.' However, Mr. Sinha clarified that the identities of those involved in the incident had not yet been confirmed by the local police. The Opposition Congress has condemned the incident and targeted the BJP-led State government, raising concerns over deteriorating law and order. 'Is a parallel justice system now operating in Madhya Pradesh, where decisions are made by the barbaric laws of mob rule? This viral video from Sehore district is once again raising such questions, where mob justice is overshadowing human lives!' Madhya Pradesh Congress president Jitu Patwari wrote on X. Leader of Opposition Umang Singhar described the act as 'inhumane and unforgivable' and demanded stringent action against those responsible.
