HCL Technologies

TCS CEO Gopinathan resigned on March 16 and will be replaced by company veteran K Krithivasan

IT company HCL Technologies expects to double semiconductor services business in 3-4 years following capabilities that it will develop around electronic chip plants to be set by its group firm, a senior company official said here. HCL Group is among the companies that have applied to set up electronic chip plants under the "Scheme for Compound Semiconductors" and HCL Technologies will assist HCL Corporate in end-to-end processing of chips. "One of the focus sectors for HCL Technologies, especially in engineering services is semi chip. Our plan is to double our business. There is an internal plan to do it in a period of three to four years. I say only three to four because it is ongoing and we see demand enough to do that," HCL Technologies executive vice president and BU head Ameer Saithu told PTI. He said that HCL Group's semiconductor wafer fab can be built in about 18-24 months time from the date the government approves its application. "We are ready with funds. Just to be clear

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

From Ambani to Birla, more and more business families in India are showing trust in their scions

The derivatives analyst from HDFC Securities suggests to BUY 1,150 Call for February 23 expiry of HCL Technologies, and simultaneously SELL 1,200 Call of the same series

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

CLOSING BELL: Within sectors, barring consumer durables, PSB and Metal indices on the Nifty logged in most gains, up over 1 per cent each, followed by IT and financial pockets

Despite strong performance in Q3, management lowered guidance in services and total revenue growth indicating weak Q4FY23.

Stocks to Watch: IT shares are likely to be in focus after Infosys and HCL Technologies reported stronger than expected Q3 results; and Wipro scheduled to report earnings on Friday.

HCL Q3 results: The company added 2,945 new employees during the quarter, and the closing headcount was 222,270. The attrition rate in Q3FY23 stood at 21.7%

CLOSING BELL: Broader markets, too, were subdued in trade as Nifty SmallCap 100 and Nifty MidCap 100 indices slipped up to 0.2 per cent

Stocks to Watch: Infosys and HCL Technologies to announce Q3 results; Sah Polymers to debut on Thursday.

HCL Tech Q3 preview: As per five brokerage estimates, analysts peg EBIT margins to see an uptick in the range of 53-60 basis points (bps) QoQ to 18.5 per cent in Q3FY23

Recently, HCL Technologies said that its FY23 revenue could be at the lower end of the guidance; Credit Suisse warned valuation-led correction in these stocks amid US macro headwinds.

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

Stocks to Watch Today: Newly listed Fusion Micro Finance and Five-Star Business are likely to be in focus on the back of strong Q2 performance reported by the companies.

Many employees working from home during the pandemic took up side jobs without the approval of their parent firm

The derivative analyst from HDFC Securities recommends buying HCL Technologies 1020 Call and selling 1040 Call of the October series.

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

CLOSING BELL: The NSE Nifty 50 swung wildly in a range of 17,112 to 16,957 as the weekly F&O expiry was in focus. The index finally settled with a loss of 107 points at 17,017 .