Sustained losses in media division
Media business reported ₹175 crore loss for FY26; despite cost optimization, linear TV headwinds persist and timeline to profitability is unclear.
HGS / bear-case history
Track the concerns that keep returning.
Hinduja Global Solutions · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Capital allocation and ROCE concerns
Investor highlighted book value of ₹1,700 per share vs market price of ₹400, indicating market expects value destruction; management acknowledged need to focus on capital efficiency.
Income tax case sub judice
GAR panel case regarding NXT Digital merger is pending in Bombay High Court; next hearing on June 12. Outcome could impact financials.