Kalra Balkrishan sold $368K of G

Jefferies downgraded Assicurazioni Generali (G) to Hold from Buy, raising its price target to €38 due to strong share gains and near-term pricing challenges. Generali will acquire a 9.9% stake in Banco de Crédito Cooperativo for €150m, closing by H2 2027 pending approval.

The Karnataka High Court overturned the Enforcement Directorate's rejection of Genpact's application for a No-Objection Certificate (NOC) for a $100 million investment in GIFT City, stating that ongoing investigations alone do not justify refusal. The court also vacated interim protection against the ED's seizure of Genpact's Gurgaon property. The case involves a 2015 restructuring of Genpact's Indian operations and alleged FEMA violations.

The Karnataka High Court upheld an Enforcement Directorate (ED) seizure order against Genpact India under FEMA, while quashing the ED's refusal to grant a no-objection certificate (NOC) for $100 million overseas remittance. The court found the refusal lacked adequate reasons and ordered a fresh decision within 10 days. The ED had accused Genpact of siphoning foreign exchange, but the court did not rule on the merits of the case.

The Karnataka High Court upheld the seizure of Genpact India's Gurugram office by the Enforcement Directorate in a ₹7,800-crore money-routing case. The court also directed authorities to reconsider Genpact's $100-million investment proposal in GIFT City. The case involves transactions with Morgan Stanley and Genpact entities.

Huron (HURN) reported fastest revenue growth and highest guidance raise, with stock up 28.9%. Concentrix (CNXC) had weakest Q2, missing EPS and revenue guidance, but stock up 9.7%. Genpact (G) reported mixed results, with stock up 2.2%. TaskUs (TASK) beat revenue expectations, stock up 22.9%.

Genpact (NYSE:G) said it expects more than $1 billion in agentic total contract value in 2026, about 5x 2025. Management reported 3% net revenue growth and 300 bps gross-margin expansion from clients shifting to agentic delivery. Q2 gross margin rose to 36.5%, adjusted operating income was $234M, and adjusted EPS was $1.00. Genpact reaffirmed 2026 revenue growth of at least 7% and guided Q3 revenue to $1.369B-$1.382B.