New Delhi, July 27 -- India's IT titans mainly manage the information technology (IT) needs of the Fortune 500 but HCL Technologies Ltd is building a business for the smaller companies, borrowing a page from Accenture Plc.

The country's third-largest IT services company has carved out a new business, according to two people with knowledge of the matter.

It is the first Indian tech services company to build a dedicated unit for the segment. Neo.AI will manage software development, maintenance and data analytics for mid-market clients through HCLTech's AI platform and IT offerings.

This move signals a diversification from the traditional cash cows of the country's largest tech services companies. Indian IT's big five-Tata Consultancy Ser...