The shares represent around 0.2 per cent of the existing issued share capital of Axon. The undertakings, according to a BSE announcement, remain binding even if a higher offer is made by a third party, but cease to be binding if the HCL scheme is withdrawn or lapses, or if the HCL acquisition is implemented by way of a takeover offer.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Titan, Tata Steel, M&M, Bajaj Finance and SBI. On the other hand, Bharti Airtel, HCL Tech, Tech Mahindra and Kotak Bank were among the gainers. NSE Nifty inched 8.95 points lower to 16,249.85 in early trade.
Information technology services provider HCL Technologies is close to clinching a $1 billion (about Rs 3,950 crore) outsourcing contract from a European telecommunications company.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
Benchmark BSE Sensex and Nifty closed on a flat note after a volatile session on Wednesday profit booking in IT and realty shares negated gains in metal and oil & gas stocks. The 30-share BSE Sensex ended 35.78 points or 0.06 per cent lower at 58,817.29, while the broader NSE Nifty inched 9.65 points or 0.06 per cent higher at 17,534.75. The market remained range-bound for the most part of the session as investors kept their exposure low due to weak global cues, traders said.
Equity benchmarks Sensex and Nifty halted their five-day rally on Tuesday and settled deep in the red, mirroring weak global markets, with decline in index heavyweights Reliance Industries, Infosys and HDFC Bank. Despite opening with gains of over 200 points, the 30-share Sensex turned highly volatile and tumbled 709.17 points or 1.26 per cent to close at 55,776.85. During the day, the benchmark index plunged 1,067.07 points or 1.88 per cent to 55,418.95. The broader NSE Nifty also declined 208.30 points or 1.23 per cent to close at 16,663.
Kotak Bank rose the most among Sensex scrips, spurting 2.92 per cent amid reports that LIC will up its stake in the private lender to 10 per cent. Gains in HCL Tech, TCS, Infosys, HDFC Bank, Bajaj Finance and Titan helped Sensex close in the green. NSE Nifty edged higher by 27.50 points to end at 17,053.95.
Tech Mahindra was the top gainer in the Sensex pack, rising over 2 per cent, followed by HCL Tech, Infosys, L&T, Tata Steel and ITC. NSE Nifty advanced 41.60 points to 15,853.95.
ITC was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Tech Mahindra, Axis Bank, Asian Paints, TCS, HCL Tech, HDFC and Kotak Bank.
The Nifty IT has been one of the worst-performing indices on the bourses this calendar year. Rising concerns of a potential global recession, which investors fear can dampen demand for export-facing domestic information technology (IT) giants, have sent the index down over 30 per cent on a year-to-date basis. By comparison, the Nifty50 Index has shed 2.8 per cent during the period, reveals data by ACE Equity.
Titan was the top loser in the Sensex pack, shedding around 2 per cent, followed by Nestle India, HUL, HCL Tech, Infosys, ITC and Kotak Bank. On the other hand, Bharti Airtel, IndusInd Bank, Axis Bank, Bajaj Finserv and L&T were among the gainers.
Axis Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.
Top gainers in the Sensex pack included Ultratech Cement, TCS, HCL Tech, Infosys, HDFC Bank and Sun Pharma.
Among Sensex stocks, SBI, IndusInd Bank, HDFC Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Ultratech Cement, L&T, Bajaj Finserv, Reliance, HCL Tech, Asian Paints, Wipro and M&M were the major losers. On the other hand, HUL advanced the most by 1.14 per cent. Maruti, Tata Steel, NTPC and Sun Pharma also posted gains.
On the Sensex chart, UltraTech Cement, HCL Tech, HDFC, Tech Mahindra, HDFC Bank and HUL emerged as the major laggards -- falling as much as 4.7 per cent. NSE Nifty dropped 63.05 points to end at 14,296.40.
Equity benchmark Sensex declined nearly 390 points on Friday, pressured by heavy selling in IT, tech and energy stocks despite a positive trend in the global markets. Besides, rising crude oil prices and relentless foreign capital outflows further weighed on sentiment, traders said. The 30-share BSE Sensex opened strong but came under severe selling pressure to close 389.01 points or 0.62 per cent lower at 62,181.67.
India's fifth largest IT outsourcing company HCL Technologies on Tuesday reported 3.5 per cent year-on-year increase in net income in the first quarter ending September to Rs 167.5 crore (Rs 1.67 billion) on a consolidated basis.profit at Rs 89.39 cr
Reliance Industries was the top gainer in the Sensex pack, rallying nearly 4 per cent, followed by Infosys, Tech Mahindra, HCL Tech, TCS and L&T.
From the Sensex pack, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, ICICI Bank and Maruti were among the major winners. Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were among the major laggards.
Among the gainers, RIL was followed by Sun Pharma, PowerGrid, Bajaj Finance, Nestle India and HCL Tech. On the other hand, Titan, L&T, ONGC, HDFC Bank and ITC were among the laggards.
Benchmark Sensex pared early losses to close 242 points higher while Nifty settled above the 18,000-mark on Wednesday following gains in IT, oil and select banking stocks amid mixed global trends. Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09 with 20 of its constituents ending in the green. The index opened lower at 60,990.05 but later regained foot to touch a high of 61,352.55 in day trade.
Trading in the domestic equity market this week will be influenced by quarterly results from TCS and Infosys, besides inflation and industrial production data as well as global trends, analysts said. Movement of the rupee, which has slumped to record lows against the US dollar, will also be tracked by investors, they added. "This week, participants will be eyeing important macroeconomic data viz IIP, CPI and WPI... Besides, the week also marks the beginning of the earnings season with IT majors like TCS, Infosys, HCL Tech and Wipro announcing their numbers along with two other heavyweights Bajaj Auto and HDFC Bank," said Ajit Mishra, VP - Research, Religare Broking Ltd. Performance of the US markets, FIIs' trend, and movement in currency and crude will also remain on their radar, Mishra added.
Benchmark equity indices Sensex and Nifty closed higher by more than half a per cent on Wednesday following buying in IT, financial and oil stocks after the RBI slowed down the pace of interest rate hikes. Ending its two-day slide, the 30-share BSE Sensex rebounded by 377.75 points or 0.63 per cent to close at 60,663.79 with 24 of its constituents posting gains. The broader Nifty of the NSE spurted by 150.20 points or 0.85 per cent to settle at 17,871.70, riding on a rally in Adani Enterprises, Adani Ports and HDFC Life.
Tech Mahindra was the top loser in the Sensex pack, shedding over 4 per cent, followed by HCL Tech, ONGC, Asian Paints, UltraTech Cement and HDFC. On the other hand, Bharti Airtel, ITC, Bajaj Auto and Bajaj Finance were the gainers.
HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and M&M. On the other hand, IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards.
HCL Technologies on Tuesday reported a 3.6% increase in net profit at Rs 1,683 crore (Rs 16.83 billion) for the quarter ended March 31, 2015.
Reliance Industries was the top gainer in the Sensex pack, rising over 1 per cent, followed by M&M, HCL Tech, Axis Bank, ICICI Bank and HUL. On the other hand, Bharti Airtel, Maruti, SBI, PowerGrid, NTPC and Tata Steel were among the laggards.
Infosys was the top gainer in the Sensex pack, rising over 2 per cent, followed by Bajaj Finance, HCL Tech, Tata Steel, Tech Mahindra and NTPC. On the other hand, Maruti, Sun Pharma, HUL and ITC were among the laggards. Nifty rose 122.15 points to 17,343.55.
The last sale of shares in HCL Technologies by the foundation was in February 2012.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched a high of 61,113.27 and a low of 60,761.88 in the day.
HCL Tech was the top loser in the Sensex pack, shedding around 4 per cent, followed by Infosys, Dr Reddy's, TCS, Reliance Industries, Tech Mahindra and NTPC. NSE Nifty slumped 163.45 points to 14,557.85.
IndusInd Bank was the top gainer in the Sensex pack, rallying around 6 per cent, followed by Reliance Industries, Axis Bank, Kotak Bank, Bajaj Auto and HCL Tech.
HUL was the top loser in the Sensex pack, shedding around 4 per cent, followed by Maruti, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech and Bajaj Finserv. On the other hand, Axis Bank, SBI, ONGC and ICICI Bank were among the gainers. NSE Nifty fell 149.95 points to 13,817.55.
On the Sensex chart, L&T, ONGC, HCL Tech, NTPC, Axis Bank and Infosys were major gainers. NSE Nifty ended with a gain of 18.10 points at 14,956.20.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
IT firm HCL Technologies on Wednesday posted 78.1 per cent jump in net profit at Rs 884.8 crore (Rs 8.84 billion) for the first quarter ended September 30.
JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
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