Latest news with #HCLTechnologies
Economic Times
10 hours ago
- Business
- Economic Times
HCL Tech shares in focus after partnership with US energy firm Just Energy
Shares of HCL Technologies will be in focus on Friday after the IT major announced a partnership with US-based energy supply company Just Energy to enhance the latter's operations and customer experience. ADVERTISEMENT Under the agreement, HCLTech will deliver digital process outsourcing solutions powered by its generative AI platform to streamline functions across IT, finance, analytics, customer care, sales, and renewals, the company said in a statement. This marks HCLTech's second major deal in the energy sector this week. On Monday, the Noida-based software exporter announced a collaboration with European energy giant to provide cloud and network management services. 'By combining our expertise in GenAI and digital process outsourcing, HCLTech will contribute significantly to Just Energy's innovation strategy and customer satisfaction,' said Ajay Bahl, Chief Growth Officer – Americas, Manufacturing and Allied Industries at company will also deploy its business process optimisation tools and a role-specific, single-user interface platform to improve workforce collaboration and operational workflows at Just Energy.'We are confident that HCLTech's proven expertise and commitment to service excellence will help us achieve our key business objectives related to operational efficiency and service improvements,' said Scott Fordham, Chief Operating Officer at Just Energy. ADVERTISEMENT Also Read: 8 debt-free penny stocks that surged 110-300% in the last 1 year. Do you own any? According to Trendlyne data, the average target price for HCLTech is Rs 1,668, indicating a potential downside of around 3% from current levels. Among the 44 analysts tracking the stock, the consensus rating is 'Hold'. ADVERTISEMENT HCLTech shares closed marginally lower by 0.1% at Rs 1,713.90 on the BSE in Thursday's trade. While the stock has gained 11% over the past three months, it remains down over 10% year-to-date. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
News18
a day ago
- Business
- News18
'Even My Job Could Be…': Finance Guru Saurabh Mukherjea On AI Taking Over
Last Updated: Saurabh Mukherjea warns that AI and leaner operations are reshaping India's white-collar job market, threatening middle-class jobs and fresh graduates. India is entering a new phase of capitalism that is fast reshaping its white-collar job landscape, and not for the better, warns Saurabh Mukherjea, founder of Marcellus Investment Managers. The country's middle class, especially fresh graduates, now faces a growing threat of job losses driven by artificial intelligence (AI) and a corporate shift toward leaner operations. 'We are actually quite American," Mukherjea said on the Bharatvaarta podcast. 'Our companies are commercially oriented. Hiring and firing norms are changing, and AI is now hitting the workforce hard." He drew parallels with the wave of job losses in Western countries during the 1990s, when automation began replacing human workers at scale, especially in manufacturing and routine office roles. The stakes, Saurabh Mukherjea argued, are far higher for India, where the workforce is younger, larger, and more dependent on entry-level white-collar jobs that are now directly threatened by AI. He drew parallels with the job displacement seen in the West during the automation wave of the 1990s. 'The median age here is 28. Roughly 10 million graduates enter the market every year, and AI hits junior, entry-level jobs hardest," he explained. He pointed out that this transformation is no longer confined to the IT sector. 'Financial services, media, management consultancy, even my job could get automated," he said. Among the most striking examples he cited was HCL Technologies, which is 'openly aiming to do more with fewer people." India's white-collar work landscape, dominated by repetitive, process-driven roles, is especially exposed to automation. 'We don't have as many creative jobs. Our economy was built on labour arbitrage, and that's the work AI is best at disrupting," Mukherjea siad. Mukherjea cited examples from his own portfolio companies, where CEOs are actively pushing automation plans that could eliminate up to a third of their workforce in the next five years. 'They tell me, 'You as a shareholder will benefit,'" he said. 'I'm not sure I want it, but it's clear they do." Mukherjea expanded on this concern in another podcast episode released in April titled 'Beyond the Paycheck: India's Entrepreneurial Rebirth." There, he said that the stable, long-term jobs that once defined India's middle class are disappearing. Even middle management roles, long seen as safe and rewarding, are at risk. Roles across IT, media, finance, and middle management are being replaced by AI, signalling the end of the long-term, secure job model familiar to previous generations. Mukherjea believed India's digital infrastructure, built around the JAM Trinity (Jandhan, Aadhaar, and Mobile), can empower individuals to create their own opportunities. As traditional jobs decline, he suggests entrepreneurship could become the new engine of growth and prosperity. First Published:
Business Standard
11-06-2025
- Business
- Business Standard
Benchmarks advance on global trade optimism; IT shares climb
Key equity indices closed with minor gains today, buoyed by positive global trade developments, including encouraging signals from US-China trade negotiations in London. The Nifty ended above the 25,100 level. Sector-wise, energy, IT, and pharma shares were in demand, while banks and FMCG stocks corrected. The S&P BSE Sensex added 123.42 points or 0.15% to 82,515.14. The Nifty 50 index rose 37.15 points or 0.15% to 25,141.40. HCL Technologies (up 3.22%), Infosys (up 2.16%) and Reliance Industries (up 0.71%) boosted the indices. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.12% and the S&P BSE Small-Cap index rose 0.06%. The market breadth was positive. On the BSE, 2,227 shares rose and 1,821 shares fell. A total of 132 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.47% to 13.67. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.05% to 6.284 from the previous close of 6.287. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5100 compared with its close of 85.5700 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.18% to Rs 97,084. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 99.02. The United States 10-year bond yield rose 0.54% to 4.497. In the commodities market, Brent crude for August 2025 settlement rose 76 cents or 1.14% to $67.63 a barrel. Global Markets: European shares traded higher on Wednesday as investors awaited a key U.S. inflation report and weighed the potential impact of a possible U.S.-China trade agreement on global economic sentiment. Asian indices ended higher as optimism brewed over ongoing U.S.-China trade talks, which U.S. Commerce Secretary Howard Lutnick called "productive." Both sides confirmed they have struck a trade agreement, following two days of negotiations in London. While U.S. Treasury Secretary Scott Bessent exited the talks, Lutnick and Trade Representative Jamieson Greer stayed back to iron out the final details. Talks may stretch into Wednesday if needed, according to Lutnick. Back on Wall Street, the mood was upbeat. The Dow ticked up 0.25%, the S&P 500 climbed 0.55%, and the Nasdaq added 0.63%, marking a three-day winning streak for the latter two. Tech stocks led the charge, with chipmakers like Nvidia rallying after reports suggested Trump may ease export curbs on semiconductors to China. All eyes now shift to U.S. CPI data due Wednesday, expected to show a slight uptick in Mays inflation. Stocks in Spotlight: Tolins Tyres zoomed 9.83% after the company reported its highest-ever monthly production milestone of 816 metric tons (MT) in May 2025, driven by robust demand and improved plant efficiency. Shares of Sula Vineyards jumped 7.91%, while Maharashtra-based GM Breweries soared 11.13%, after the Maharashtra government announced a sharp hike in state excise duties, excluding wine and beer from the increase. The state hiked excise duty on Indian-made foreign liquor (IMFL) by over 50%, a move that is expected to push retail prices up by more than 60%. Country liquor and imported premium liquor were not spared either, with their retail prices likely to rise by 14% and 25%, respectively. However, in a major relief for consumers and certain manufacturers, beer and wine have been left out of the duty hike. Additionally, the government introduced a new category called Maharashtra-made liquor (MML), which will also enjoy exemption from the revised duties. Hilton Metal Forging hit an upper circuit of 5% after the company announced the successful manufacturing of forged railway wagon wheel sets. These sets have been inspected and approved by RITES, the Indian governments railway inspection agency. HCL Technologies jumped 3.22% after the company announced an expansion of its partnership with Standard Insurance Company (The Standard) to deliver AI-driven infrastructure and enhance customer experience. Talbros Automotive Components (TACL) advanced 2.73% after the company, along with JV entities, announced the receipt of orders worth Rs 580 crore for both the domestic and export markets from leading OEMs. Onesource Specialty Pharma advanced 1.19% after the company announced a partnership with Sweden-based Xbrane Biopharma AB for manufacturing biosimilars for global markets. Popular Vehicles and Services fell 1.33%. The firm has received a letter of intent from Maruti Suzuki India to establish a new independent True Value outlet for pre-owned vehicles in Bangalore, Karnataka. Waaree Energies jumped 1.61% after its wholly owned subsidiary, Waaree Solar Americas, received an order for supply of 599 MW solar modules. Texmaco Rail shares gained 1.41% on order win of Rs 44 crore for supply, construction, installation, testing and commissioning of traction transformers, SPs & associated works. Selan Exploration Technology shares jumped 3.39% after NCLT approved scheme of arrangement with Antelopus Energy.
Economic Times
11-06-2025
- Business
- Economic Times
Market Wrap: D-Street ends higher on US trade talk optimism; Sensex adds 123 pts, Nifty above 25,100
Indian benchmark equity indices Sensex and Nifty ended in the green on Wednesday, lifted by gains in IT and oil & gas stocks, as positive cues from Asian markets and progress in trade talks between the U.S. and key partners like India and China boosted investor sentiment. ADVERTISEMENT The BSE Sensex advanced 123.42 points, or 0.15%, to settle at 82,515.14, while the NSE Nifty eked out a gain of 37.15 points, or 0.15% to close at 25,141.40. The market capitalization of all listed companies on the BSE decreased by Rs 76,728 crore to Rs 455.57 lakh crore. IT stocks led the market gains on the day, with the Nifty IT index rising 1.3%, marking its sixth straight session of gains, as optimism around U.S. trade talks lifted sentiment. Shares of HCL Technologies, Tech Mahindra, Infosys, and Wipro advanced between 1.6% and 3.2%. On the Sensex, HCL Technologies, Infosys, Tech Mahindra, Reliance Industries, and Bajaj Finserv were among the top performers, gaining between 0.7% and 3%. ADVERTISEMENT Progress in U.S.-led trade negotiations provided a tailwind for risk assets. In London, Washington and Beijing negotiators said they had "agreed a framework on trade" to present to their respective Reuters reported that Indian and U.S. officials made headway in bilateral talks in New Delhi, covering industrial goods, agriculture, tariff cuts, and non-tariff barriers. ADVERTISEMENT However, gains in the broader market were capped by selling in financials. The Nifty Financial Services and Nifty Bank indices both slipped 0.3%, as profit-booking continued following recent record highs driven by the RBI's steep rate other notable movers, liquor stocks came under pressure after Maharashtra raised excise duties on Indian Made Foreign Liquor. Radico Khaitan dropped 3.8%, while United Spirits sank 6.6%. ADVERTISEMENT Shares of BSE Ltd fell 4% after the NSE placed the stock under the Additional Surveillance Measure (ASM) framework, prompting investor caution and triggering a 100% margin requirement on broader market indices retreated. The Nifty Smallcap 100 and Nifty Midcap 100 declined around 0.5% each, snapping seven-day and five-day winning streaks, respectively. ADVERTISEMENT Profit booking continues in the broader markets, driven by elevated domestic valuations, said Vinod Nair, Head of Research, Geojit Investments, adding that "however, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks." The Auto and IT sectors remain in focus—Auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential U.S.-China trade resolution, said Nair. The Nifty remained volatile throughout the day before closing flat, but the overall sentiment remains positive as the index continues to hold above the breakout point, said Rupak De, Senior Technical Analyst at LKP Securities, adding that "a golden crossover is in place, which supports the bullish outlook.""Any dip should be viewed as a buying opportunity. Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with potential to move towards 25,350 in the short term," said equities and the dollar reacted cautiously on Wednesday to signs of progress in U.S.-China trade talks, as investors awaited more clarity on the details and durability of any London, negotiators from Washington and Beijing said they had "agreed a framework on trade" to be taken back to their respective leaders. Despite the headlines, U.S. investors remained wary following past trade-related setbacks. Futures on the S&P 500 and Nasdaq slipped 0.2% and European markets were slightly more upbeat. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, while Europe's STOXX 600 edged up 0.14%.In commodities, gold gained 0.6% to $3,345 an focus now shifts to the upcoming U.S. consumer inflation data. According to a Reuters poll, core CPI is expected to have risen 0.3% month-on-month in May, up from a 0.2% increase in prices climbed to a seven-week high on Wednesday, supported by progress in U.S.-China trade talks and fading hopes of a breakthrough in U.S.-Iran nuclear crude rose 82 cents, or 1.2%, to $67.69 a barrel, while U.S. West Texas Intermediate (WTI) gained 96 cents, or 1.5%, to $65.94 by 1028 Indian rupee ended marginally higher at 85.51 against the U.S. dollar on Wednesday, marking its third straight session of rangebound trade amid balanced client flows and a lack of clear directional the dollar index, which measures the greenback against a basket of six major currencies, edged down 0.05% to 99.04. (with inputs from agencies) (You can now subscribe to our ETMarkets WhatsApp channel)
Business Upturn
11-06-2025
- Business
- Business Upturn
Nifty 50 top gainers today, June 11: HCL Technologies, Infosys, Tech Mahindra, Wipro, Bajaj Auto and more
On June 11, Indian equity markets ended on a positive note after a volatile session. The Nifty 50 closed at 25,141.40, up 37.15 points or 0.15%, while the Sensex gained 123.42 points to settle at 82,515.14. Among the Nifty 50 stocks, several companies recorded significant gains, led by HCL Technologies, Infosys and Tech Mahindra. Below is a detailed look at the top gainers of the Nifty 50 (as per Trendline) for the day. Nifty 50 Top Gainers on June 11 HCL Technologies rose by 3.2% , ending the session at ₹1,721.30. Infosys closed at ₹1,628.00, up 2.0% . Tech Mahindra gained 1.7% , finishing at ₹1,638.00. Wipro registered a 1.6% increase, closing at ₹259.00. Bajaj Auto ended at ₹8,732.50, with a 1.2% rise. Oil and Natural Gas Corporation (ONGC) advanced by 1.1% , closing at ₹247.50. Cipla also posted a 1.1% gain, settling at ₹1,527.50. SBI Life Insurance Company closed at ₹1,800.00, up 0.8% . Coal India ended the day at ₹402.70, marking a 0.8% increase. Hero MotoCorp rose by 0.7%, closing at ₹4,410.00. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
