Shares of HCL Technologies on Monday rose 4% to the day’s high of Rs 1,627 on BSE after the company posted 20% year-on-year (YoY) growth in its consolidated net profit to Rs 4,257 crore for the quarter ended June 2024. The profit for the same period last year stood at Rs 3,534 crore. The revenue … Read more
Synopsis HCL Tech’s Q1 FY25 results were mixed, with better-than-expected net profit due to higher other income offsetting disappointing revenue growth. Operating margins were under pressure as anticipated, and the company secured fewer new deals compared to the previous quarter, a trend also seen in its larger competitor, TCS. ET Intelligence Group: The June 2024 … Read more
Betting that IT stocks could be traversing an inflection point as the growth momentum may bottom out over the next few months and a return to growth over CY24 on the back of easing of several headwinds and new drivers taking over, both FIIs and mutual funds increased their shareholding in most largecaps.MF holding in … Read more
NEW DELHI: After surprised Street with a 5% quarter-on-quarter (QoQ) growth in constant currency terms, analysts see little downside in the IT stock given the recent correction and high dividend yield. Brokerages say the Q3 earnings were ahead of estimates led by higher-than-expected revenue growth in the software business. Strong revenue growth guidance of 16-16.5% … Read more
Shares of IT services provider rose as much as 2.7% to Rs 963.8 in intra-day trade on Wednesday, ahead of its second-quarter results later in the day. After two quarters of steep erosion in profitability, HCL Technologies is likely to have seen some improvement in margins during the quarter ended September due to lower operating … Read more
The Indian market recouped some losses on Monday but still fell over 1 per cent. The S&P BSE Sensex plunged more than 800 points, while the Nifty50 managed to hold on to 17,300 levels. Sectorally, selling was seen in IT, banks, metals, finance, and public sector stocks, while buying was visible in FMCG and Oil … Read more
New Delhi: Brokerages retained their positive outlook on stock even as they slashed earnings estimates for the tech giant following its mixed bag show for the June 2022 quarter. Major international brokerages have cut their EPS estimates for the IT major thanks to the pressure on the margin front. However, their estimates suggest an up … Read more
NEW DELHI: Indian mutual fund industry is a crowded space with as many as 44 players in the fray and many more planning to enter. This is understandable given there is a huge growth opportunity in the industry. But in every industry, there comes a time when consolidation starts. Sometimes smaller players are absorbed by … Read more
MUMBAI: HCL Technologies today reported mixed bag earnings for the quarter ended September. While the company was able to beat Street’s estimate on the bottom line, its topline growth failed to impress. The Noida-based IT services major reported a 1.7 per cent sequential growth in consolidated net profit to Rs. 3,259 crore and a 2.9 … Read more