Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
"We had raised a debt of $585 million for acquiring Axon which is maturing in December 2009. We have a cash position of $412 million. We will pay the debt out of the cash and raise a small debt," HCL Technologies Executive Vice-President (Finance) Anil Chanana said. HCL had acquired Axon for pound 441 million ($678 million) in December last year, funded partly by a short-term loan of $585 million.
HCL Technologies Ltd, India's No. 4 IT services exporter, beat expectations with a 41.6 percent rise in quarterly profit, after order wins boosted earnings.
Global IT solutions provider HCL Technologies Ltd has signed a five-year multi-million dollar agreement with US-based Autodesk Inc to provide offshore application and data centre services.
Software exporter HCL Technologies on Tuesday reported a standalone net profit of Rs 192.94 crore (Rs 1.92 billion) for the quarter ended June 30, 2009, while it had a net loss of Rs 13.54 crore (Rs 135.4 million) in the corresponding period previous fiscal.
The Street shrugged off a muted first quarter of financial year 2023-24 (Q1FY24) and a cautious near-term outlook by India's largest information technology (IT) services company, Tata Consultancy Services (TCS). The stock was the top Nifty50 and Sensex gainer on Thursday, rising 2.5 per cent, as investors took comfort from a robust order book and an encouraging pipeline. Like its larger peer, HCL Technologies' (HCL Tech), too fell short of the Street's expectations on the revenue and margin fronts given cuts in discretionary expenditure.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
HCL Technologies has to fine-tune strategies to improve performance in the March quarter.
With India's two leading IT outsourcing companies, Infosys and HCL Technologies, vying to acquire the UK-based consulting firm Axon, SAP implementation is back in focus.
Indian IT major HCL Technologies Ltd has decided to create 250 jobs in Northern Ireland as part of its call centre expansion plan
HCL Technologies on Friday entered into a joint venture with Japan-based NEC Corporation to provide offshore software engineering solutions for the latter.
HCL Technologies Ltd on Thursday said it has entered into an agreement with IBM, through which it has acquired license rights to establish itself as the power architecture design center outside an IBM business line.
"The drop in the sales of laptops in India in the last quarter is a temporary phenomenon. We attribute that to the increasing difference in costs between the desktops and laptops, especially due to the rise in dollar value. We are confident of garnering a double digit market share in the laptop segment in India in the next 18 months," George Paul, executive vice president, marketing, HCL Infosystems said.
From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
After spending 20 years at HCL Technologies and heading various service lines, Anant Gupta on Thursday assumed the role of president and chief executive officer.
A task force set up by the Ministry of Electronics and Information Technology (Meity) for transforming India into an "electronic and semiconductor products" nation is on the verge of finalising its report, which is likely to recommend an allocation of Rs 44,000 crore between 2024 and 2030 to support homegrown companies in their quest to develop products and build global brands. The task force's recommendations include significant incentives: Rs 15,000 crore dedicated to electronic products (systems), Rs 11,000 crore for semiconductor products, and Rs 18,000 crore for various other incentives such as talent development, common infrastructure, logistics, and technology & IP (intellectual property) acquisition, a member of the panel revealed.
India's HCL Comnet, a subsidiary of HCL Technologies, has got a network management order worth Rs 31 crore (Rs 310 million) from state-run National Insurance Company, the Bombay Stock Exchange said on Friday.\n\n\n\n
HCL Technologies on Wednesday announced a Rs 910 crore ($200 million), multi-service, five-year contract with Skandia UK, taking its cumulative order position in this calendar year to over $600 million
Intel Corporation, the world's biggest chipmaker and HCL on Saturday announced the nationwide launch of Intel-powered classmate PC in India.
HCL Technologies on Thursday announced a multi-year, multi-million dollar IT co-sourcing contract with AMD for the personal and networked computer and communications markets.
From the Sensex basket, Mahindra & Mahindra, Tata Motors, NTPC, HCL Technologies, Larsen & Toubro, Infosys, Tech Mahindra and State Bank of India were the major laggards. Bharti Airtel, Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and IndusInd Bank were among the gainers.
Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards. Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.
IT company HCL Infosystems on Wednesday announced entering into partnership with state-run telecom operator BSNL for offering low-cost broadband-enabled computers in rural areas to bridge the digital divide.
Computer giant Microsoft has signed a $170-million, five-year contract with India's HCL for outsourcing work for its online business productivity suite.
All-stock deal likely to be wrapped up in two months.
Brazil's alternative energy company, Cemig, tops the list of Environmental Tracking (ET) BRICS 300 Carbon Ranking.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
Worries related to the Iran-Israel conflict, quarterly earnings and foreign investors' trading activity are the key factors that would dictate stock markets this week, analysts said. Besides, trends in Brent crude oil and movement of the rupee against the dollar will also be crucial factors. This week will be crucial for the market amid ongoing worries about the conflict between Iran and Israel, said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
It provides an option of data connectivity through USB dongles.
Larsen & Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra & Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
There were speculations on former CEO's exit after he sold stake in the company.
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter. Bharti Airtel, ITC, HCL Technologies, Asian Paints, Wipro, HDFC Bank, Nestle, Tata Steel, Tata Consultancy Services and Maruti were among the other major laggards. NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra were among the gainers.
Among the Sensex firms, Bajaj Finance, Bharti Airtel, Maruti, Bajaj Finserv, HCL Technologies, Titan, Hindustan Unilever, JSW Steel, UltraTech Cement, State Bank of India and Reliance Industries were the major laggards.
Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said. Trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also guide the movement.
HCL Tech is confident of sustaining margins in FY15.
Consolidated revenues grew by 13.4% at Rs 9,283 crore.
According to a PTI report, in the latest '2012 Global Outsourcing 100', compiled by the International Association of Outsourcing Professionals, three Indian firms have found a place in the top 10, with Accenture heading the list.
HCL Technologies Ltd, India's fifth-largest software exporter, reported on Thursday second-quarter consolidated net profit fell 35.9 per cent year-on-year, slightly below market expectations, pushing its shares lower.
