India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7 per cent jump in its consolidated net profit to Rs 1,834 crore (Rs 18.34 billion) for the fourth quarter ended June 30, 2014.
From the Sensex pack, Nestle, Tata Consultancy Services, IndusInd Bank, Asian Paints, Bharti Airtel, Tech Mahindra, UltraTech Cement, Kotak Mahindra Bank and Hindustan Unilever were among the major laggards. Tata Steel, JSW Steel, HCL Technologies, Axis Bank, Power Grid and Mahindra & Mahindra were among the gainers.
India is all set to make its presence felt in the $47 billion global outsourced semiconductor testing and packaging market, an arena where Malaysia and Vietnam have been way ahead so far. The Cabinet last Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner. These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest Rs 47,300 crore to set up the factories.
Shares of IT company HCL Infosystems plunged over 7 per cent on Monday after its Managing Director and CEO Harshavardhan Madhav Chitale resigned from the company.
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.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
IT services firm HCL Technologies on Thursday reported a 14.4 per cent increase in net profit at Rs 1,926 crore (Rs 19.26 billion) for the quarter ended March.
The first reason is engineering services, says Anant Gupta
The company's net profit stood at Rs 572.7 crore (Rs 5.72 billion) in the October-December quarter of 2011, HCL Technologies said in a statement.
Among the Sensex firms, PowerGrid, IndusInd Bank, Larsen & Toubro, Nestle, HCL Tech, Axis Bank, Tata Motors, HDFC Bank, Tata Consultancy Services and HDFC were the major winners. Bajaj Finserv, NTPC, Reliance Industries and Kotak Mahindra Bank were the biggest laggards.
Among the Sensex firms, Tech Mahindra, HCL Technologies, Wipro, Infosys, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv and ICICI Bank were the major gainers. Power Grid, Nestle, Asian Paints and Hindustan Unilever were among the laggards.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards. Mahindra & Mahindra and Bajaj Finance were the gainers.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
Gains in IndusInd Bank, HCL Tech, TCS, Tech Mahindra, NTPC, ITC, JSW Steel and Tata Steel helped the barometer scale a fresh high. Axis Bank fell the most by 1.26 per cent, M&M by 0.99 per cent and Hindustan Unilever by 0.67 per cent. Maruti, Bajaj Finserv, Bharti Airtel and HDFC Bank and Infosys also declined.
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.
IT services giant HCL Technologies on Wednesday said it is planning to set up a delivery centre in Pune as part of its plans to venture into small towns and cities.
When European debt and sovereign crisis is giving anxious moments to multi-national CEOs, India's HCL Technologies is bullish on the continental Europe, aiming to get one-third of its revenue from the region.
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.
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.
HCL Technologies Ltd, India's fifth largest software services exporter, reported on Monday its quarterly profit fell from a year earlier.\n\n\n\n
"HCL's employees know that bill tightening has to happen, but in a collaborative manner. There is a trust factor between the employees, the company and the customers and we do not have a pink slip policy. That is why we squeezed utilisation up to 75 per cent and our hiring in the last two quarters has not been much," says Vineet Nayar, CEO, HCL Technologies.
HCL Technologies has to fine-tune strategies to improve performance in the March quarter.
Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
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.
"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.
Among the Sensex firms, Adani Enterprises and Adani Ports sustained their gaining momentum and traded higher by 4.40 per cent and 4.37 per cent, respectively. BPCL, Axis Bank, Mahindra & Mahindra and SBI were the other major gainers. On the other hand, HCL Tech, Infosys and Bajaj Auto traded in the negative zone with a loss of up to 1.54 per cent.
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.
Arun Duggal, chief financial officer of the Noida-based software services company HCL Technologies, has resigned.
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.
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.
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.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
"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.
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.
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 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
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