India's fourth largest software services provider HCL Technologies on Friday reported 32.3 per cent rise in consolidated net profit at Rs 1,873 crore (Rs 18.73 billion) for the first quarter ended September 30 on the back of strong growth in Europe and business services.
HCL Technology Ltd has secured a contract worth $180 million for its business process outsourcing service operations from BT, a global telecommunications services provider.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
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
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.
Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
HCL Technologies BPO Services Ltd (HCL BPO), the BPO arm of HCL Technologies, said on Saturday that it would be expanding its staff strength to about 40,000 by 2009.
English Premier League club Manchester United said on Wednesday it had signed a partnership deal with IT firm HCL Technologies to improve its website and app as it gears up to launch a new digital media strategy.
Indian software services exporter HCL Technologies Ltd aims to expand its workforce size in its local back-office services unit by more than 60 per cent to 2,500 by March 2004.
HCL Technologies on Tuesday reported a 46.7 per cent rise in net profit at Rs 129.14 crore (Rs 1.29 billion) in the second quarter ended December 2004 over the same period last year.
The spread of the Omicron variant of the coronavirus has made Indian companies persist with their policy of banning overseas trips and allowing only essential travel within India. The IT services firms, which had planned to ask their employees to return to the workplace, are also waiting and watching the Covid-19 situation before fully opening up their offices. Large conglomerates like the Tatas, Birla, JSW and Reliance are continuing with the mandatory social distancing and masking policies within their office premises.
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
HCL Technologies surged on Monday after the company said that it has won a BPO order worth $160 million from British Telecom.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
TCS, HCL Tech join Infy in reporting improved earnings, are bullish on outlook.
Best performers get gifts such as foreign holidays, high-end cars and mobile devices
Tata Consultancy Services (TCS) has become the first Indian company to exceed Rs 5 lakh crore in market capitalisation.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Fewer working days and a stronger rupee may impact December quarter performance; rise in overall demand a positive factor.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five's current P/E multiple of around 31x.
There was an uptick in clients' spends in the digital segment.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Brazil's alternative energy company, Cemig, tops the list of Environmental Tracking (ET) BRICS 300 Carbon Ranking.
Considered a visionary, Rajendra S Pawar was years ahead of his time in realising the importance of IT (information technology) education in India.
This business could also be aided by new outsourcing opportunities in IMS from Germany, France and northern Europe
The quarterly results of India's big four IT (information technology) players (HCL, TCS, Infosys and Wipro) have left investors confused, with no clarity on the sector's outlook.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
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.
Ten billionaires including Mukesh Ambani, Sunil Mittal are in the world's richest list.
There were speculations on former CEO's exit after he sold stake in the company.
'His working style differs from his father as he is a quick decision-maker.'
HCL Technologies today reported a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore (Rs 14.96 billion) for the second quarter ended December 31, 2013, on the back of growth in manufacturing and infrastructure services.
Companies say they have ensured that services to clients remain unaffected.
Gupta has managed a great show until yet.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
