HCL Tech Stock

CLOSING BELL: Buying momentum in IT, HUL, and ITC shares also lent support

Shares of HCL Technologies slipped 3.3 per cent to Rs 1,108.55 on the BSE in Friday's intra-day trade on profit booking

In Friday's trade, the stock gained marginally to close at Rs 1,077 per share, as against 0.5 per cent rise in the S&P BSE Sensex

HCL will also use its automation and AI capabilities to help Mondelez provide on-demand personalised user experience and accelerated issue resolution to 110,000 employees in 79 countries

At its investor meeting held in New York on December 8, the management said the revenue growth guidance for FY23 is likely to come in at the lower end of its 13.5-14.5 per cent

The three will develop cloud-native E2E architecture of an Intel Xeon processor-based 5G solution, leveraging Mavenir RAN, Intel SmartEdge, and HCLTech's management and automation services

Bilateral non-profit organisation honours billionaire for his contribution to technology industry and philanthropy

HCL Tech Q2 results preview: Its net profit may rise by as much as 6 per cent YoY. The company's EBIT margins will likely improve by 20-60 basis points to 17.6%

In the past eight days, the Nifty IT index has slipped 10 per cent, as compared to 4 per cent decline in the Nifty 50 index

In a Q&A, HCL Technologies CEO and MD C Vijayakumar, talks about growth momentum from its majority market the US and managing supply-side issues

HCL Tech had a total contract value (TCV) of new deals worth $2 billion, a growth of 23.4 per cent YoY

Top management, while reporting results for HCL Tech Q1FY23 on Tuesday, said attrition rate was "expected to remain high in coming months"

On the flipside, the company's Ebit margins are expected to decline by up to 108 bps to 16.9 per cent over the preceding quarter due to elevated attrition.

In the last few weeks alone, analysts at JP Morgan, Kotak Institutional Equities and Nomura had sounded caution on the IT sector, suggesting that the heydays may be over, at least for now

HCL Tech has guided for revenue growth of 12-14 per cent CC in FY23 on the back of continued traction in the services business, healthy deal intake and deal pipeline.

Brokerages expect the firm's earnings before interest and tax (EBIT) margins to have fallen sequentially by up to 90 basis points on supply side pressures and subdued P&P performance.

In a Q&A, the company's CEO & MD dwells on the firm's growth momentum, supply challenges and demand

The BSE m-cap stood at Rs 272.8 trillion by close

Funari joined the firm to spearhead its growth for all industries and capabilities in Brazil, where HCL employs more than 800 people

After surging to its new all-time high of 53,290.81 in early trading, the Sensex ended 18.79 points, or 0.04 per cent, lower at 53,140.06