“We estimate that HCL Technologies is going through peak renewals in FY16/17, putting further pressure on growth and margins,” wrote HSBC’s Aggarwal. HCL reported a 11.6% rise in revenue growth in constant currency terms (7.1% in dollar terms), lower than industry body Nasscom’s estimate of 12.3% revenue growth, in 2015-16. HCL Technologies may be losing out as clients shift to cloud services offered by rivals Microsoft Azure, Amazon’s AWS amid inability to cross-sell servicesHCL Technologies’s president and CEO Anant Gupta. Photo: Ramesh Pathania/MintBengaluru: HCL Technologies Ltd lost at least $1.5 billion worth of contracts that came up for rebid over the past two years, according to four people familiar with the matter. HCL maintained the data centres of many of these clients when it initially won those contracts.

Source: Mint June 27, 2016 22:02 UTC