MAM
India’s Adventz signs $2-bn MoU with Israeli Lesico
MUMBAI: Adventz Group, the Indian global conglomerate, has signed a US$2-billion-plus memorandum of understanding with Israel’s Lesico group to collaborate in the light rail transit (LRT) projects in Tel Aviv and Jerusalem. The announcement came today in the backdrop of a top-level Indian political and business delegation led by Prime Minister Narendra Modi touring the nation currently. The historic visit – first time for any Indian PM – is being seen as a watermark in deepening economic and trade relationships between New Delhi and Tel Aviv.
The MoU between Lesico with Adventz Group will be a first for an Indian conglomerate with Group company Texmaco Rail & Engineering Limited, which will lend its exeprtise in building the Tel Aviv Metropolitan Area Mass-Transit System. TEXMACO’s role involves laying of tracks, installation of signaling, electrification, power sub-stations, and, command, control & communication equipment.
Adventz Group chairman Saroj Kumar Poddar said: “The MoU showcases Indian companies’ ability to not just serve the nation but also take their expertise elsewhere in the world.”
As per the MoU, TEXMACO’s expertise is being sought in track-related works for the Tel-Aviv Red-Line and Jerusalem Green-Line LRT projects. The Tel-Aviv red line will be the first section of Light rail system in the Tel Aviv metropolitan area and the line will run in the northeast part of the Capital city with a significant portion of it underground. The total cost of the red line is estimated at approximately US $3 billion. The 19.6 km Jerusalem Green line will link the two campuses of the Hebrew University and continue towards South of the Holy City. There would be 36 stops in the Green Line, and is predicted to be used by 2 Lac passengers per day.
Lesico Group chairman Jechiel Leshman, said, “The success of the Tel Aviv Metropolitan Area Mass-Transit System will lie in as much as it will touch every citizen’s daily life. The TEXMACO-Lesico collaboration goes beyond our joint capabilities; we are building for our future.”
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
