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
If Wipro fails to defend the 200-WMA placed at Rs 378, the stock can slide to near Rs 300-mark. On the other hand, HCL Technologies seems to be on course to test Rs 1,200.
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.
The company is expected to post a revenue growth of 2.9 per cent QoQ on a constant currency basis, brokerage firms predicted
On constant currency basis, revenue was up 7.6% sequentially, one of the best quarters in the last 12 years, said the IT firm
TCS, Infosys, L&T, Tech M, and HDFC Bank were the top gainers on the Sensex today.
HCL Technologies is scheduled to announce Q3 results on Friday, while HDFC Bank will report numbers on Saturday. Adani group stocks may be in focus on the back of MoU with POSCO.
The BSE m-cap stood at Rs 272.8 trillion by close
HCL Tech Q1 preview: Most analysts expect a contraction in HCL Tech's margin, hurt by wage hikes in Q4 and investment in geo & sales expansion.
The IT firm's EBIT margin in FY22 is expected to be between 19%-21%
The company has declared a dividend of Rs 6 per share. In addition, the Board has declared a special interim dividend of Rs 10 per share to mark the company crossing the $10 bn milestone in revenue
The overall market breadth remained in the favour of the bulls, courtesy rally in the broader markets
Sharekhan expects the company to maintain its margin guidance of 20 per cent-21 per cent for FY21
Valuations too are attractive, at a 35 per cent discount to Infosys
Nadar will continue as managing director and hold the designation of Chief Strategy Officer
The IT major had registered a net profit of Rs 2,220 crore in the April-June 2019 quarter (as per US GAAP), HCL Technologies said in a regulatory filing
HCL says its business model is a mix of recurring product revenues, managed services and discretionary spending-led professional services