HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by TCS, Bajaj Finserv, Nestle India, Bharti Airtel, Bajaj Finance and Tech Mahindra. NSE Nifty advanced 45.95 points to 16,496.45.
HCL's president & CEO Anant Gupta talked to Business Standard about the demand environment, its in the European market and Roshni Nadar's induction into the company's board of directors.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Equity benchmark Sensex tanked 372 points on Thursday, tracking losses in index majors L&T, Infosys and TCS amid a negative trend in global markets. The 30-share index ended 372.32 points or 0.62 per cent lower at 59,636.01. Similarly, the NSE Nifty fell 133.85 points or 0.75 per cent to 17,764.80.
HCL Technologies is betting big on next-generation services and products that are likely to contribute 40 per cent of its revenues in 2-3 years.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
HCL Tech was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, Tata Steel, Wipro, NTPC and Titan. Nifty advanced 187.05 points to 16,801.25.
Equity benchmark Sensex plunged by 554.05 points on Tuesday, tracking deep losses in realty, auto and metal stocks amid widespread selling pressure in global markets. The 30-share index slumped by 554.05 points or 0.90 per cent to end at 60,754.86. The broader NSE Nifty fell by 195.05 points or 1.07 per cent to 18,113.05.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by L&T, Tata Steel, HDFC, TCS, Reliance Industries, HCL Tech and ICICI Bank.
Cisco has licensed HCL the intellectual property for one of its network management products.
IndusInd Bank was the top gainer in the Sensex pack, rising over 4 per cent, followed by HCL Tech, Bajaj Auto, Tech Mahindra, L&T and Kotak Bank.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen & Toubro and Mahindra & Mahindra, Axis Bank and Titan. On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints and Wipro were the gainers.
Benchmark BSE Sensex recovered from early lows to close at a five-month high on Friday, riding on gains in banking and auto stocks ahead of the release of key inflation data. The 30-share index gained 123.38 points or 0.20 per cent to settle at 62,027.90, the highest closing level since December 12, 2022. The barometer opened lower due to early weakness in energy, power and IT stocks and touched a low of 61,578.15 in the day trade.
Tata Steel was the top loser in the Sensex pack, shedding around 3 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries. NSE Nifty fell by 40.70 points to 17,888.95.
IndusInd Bank was the top loser, shedding nearly 4 per cent, followed by Bajaj Finserv, Bharti Airtel, TCS, HCL Tech and Tech Mahindra.
HCL Tech was the top gainer in the Sensex pack, rallying over 5 per cent, followed by L&T, Tech Mahindra, HDFC Bank, UltraTech Cement, ITC and Tata Steel. NSE Nifty rose 70.25 points to its all-time high of 15,924.20.
HCL Technologies Ltd said on Monday that it has reached an agreement with Perot Systems to divest its stake in HCL Perot Systems for $105.3 million in an all cash deal.
ITC was the top loser in the Sensex pack, slipping over 3 per cent, followed by Maruti, Infosys, NTPC, HCL Tech and Tata Steel. NSE Nifty shed 63.20 points to close at 18,114.90.
Last month, a Wall Street Journal report said Nadar planned to sell his stake worth $10 billion (or about Rs 61,000 crore, based on Wednesday's stock price of Rs 1,458.95) and was scouting for potential buyers.
HDFC was the top gainer in the Sensex pack, rising 2.56 per cent, followed by Bharti Airtel, IndusInd Bank, ITC, UltraTech Cement, Nestle India and Asian Paints. On the other hand, Sun Pharma, Tech Mahindra, Axis Bank, HCL Tech, Infosys and Tata Steel were among the laggards.
HCL Technologies on Monday announced it has bagged a mandate from French aircraft maker Airbus for development of sophisticated embedded software.
Bajaj Finserv was the top loser in the Sensex pack, shedding 4.57 per cent, followed by Infosys, TCS, Sun Pharma, HCL Tech, HUL, Dr Reddy's, HDFC and Reliance Industries. NSE Nifty plunged 181.40 points to 17,757.00.
IndusInd Bank was the top gainer in the Sensex pack, jumping nearly 5 per cent, followed by Bharti Airtel, HCL Tech, Reliance Industries, Titan and Asian Paints.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Infosys, Titan, Reliance Industries and HCL Tech. NSE Nifty rose 27 points to 17,248.40.
On the Sensex chart, HCL Tech, HDFC, Tech Mahindra, TCS, RIL, Sun Pharma and SBI were the major gainers, rising as much as 4.3 per cent. NSE Nifty gained 52.45 points to end at 18,055.75.
HCLA was selected through a highly competitive process where it demonstrated its managed cloud-as-a-service solution called iGOVERN(r).
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
Infosys fell the most among Sensex stocks, declining by 2.85 per cent. Among other IT stocks, TCS fell by 1.87 per cent, Wipro by 1.52 per cent, and HCL Tech by 1.70 per cent. NSE Nifty plunged by 174.65 points to close at 17,938.40.
Brazil's alternative energy company, Cemig, tops the list of Environmental Tracking (ET) BRICS 300 Carbon Ranking.
Equity benchmark Sensex and Nifty ended marginally down on Tuesday tracking losses in metal, banking and financial stocks. Investors also remained concerned over persistent foreign fund outflows, traders said. Falling for the fifth consecutive session, the 30-share BSE index ended 37.70 points or 0.07 per cent lower at 57,107.52. Similarly, the NSE Nifty shed 8.90 points or 0.05 per cent to close at 17,007.40.
Tata Steel was the top gainer in the Sensex pack, jumping over 6 per cent, followed by Sun Pharma, L&T, M&M, PowerGrid, Bajaj Finserv, TCS and Infosys. On the other hand, Wipro, Asian Paints, HDFC Bank, IndusInd Bank and HCL Tech were among the laggards.
Bharti Airtel was the top loser in the Sensex pack, shedding nearly 4 per cent, followed by Tech Mahindra, Bajaj Finance, Bajaj Finserv, HCL Tech and Infosys.
There were speculations on former CEO's exit after he sold stake in the company.
PowerGrid was the top gainer in the Sensex pack, rallying over 6 per cent, followed by Tech Mahindra, HCL Tech, Titan, L&T, NTPC and ICICI Bank.
The company is in talks with a few private banks and has signed on Citibank as one of the bankers to raise these funds, said sources. HCL Technologies and Citibank declined to comment saying that 'they do not comment on market speculation'.
HCL Tech was the biggest loser on the Sensex chart, shedding 2.79 per cent, followed by Tata Steel, ICICI Bank, Reliance Industries, ITC, Wipro, Infosys and M&M. In contrast, Tata Motors, L&T, Bharti Airtel, HDFC Bank and SBI were among the winners, climbing up to 2.05 per cent.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by Tata Steel, Bajaj Auto, HCL Tech, Sun Pharma and Tech Mahindra. On the other hand, HDFC twins and Bajaj Finance were the gainers.
Among major Sensex shares, PowerGrid fell the most by 2.76 per cent. IndusInd Bank dropped 2.34 per cent, HUL by 2.23 per cent and NTPC by 2.04 per cent. ICICI Bank, HDFC Bank, HDFC, ITC, Infosys, L&T, Bajaj Finance, Kotak Bank, HCL Tech and Tech Mahindra were among the losers. On the other hand, Tata Motors rose the most by 2.94 per cent, followed by Titan which gained 1.26 per cent. Mahindra & Mahindra, SBI and TCS were also among gainers.
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