Technical charts show that HCL Technologies, TCS, Infosys and Tech Mahindra shares could fall up to 8% from here on; while, Wipro can potentially rally by another 11%. Check key levels here
Meanwhile, NSE F&O data shows that FIIs were net sellers in Nifty futures for the sixth straight trading session on Tuesday, with net sales of 70,318 contracts in this period.
HCLTech declared a dividend of Rs 18 per share, including a special Rs 6 per share dividend to commemorate 25 years since its public listing, marking its 88th consecutive quarter of dividend payouts
He highlighted shifting demand dynamics, uncertainty, and the evolving role of generative artificial intelligence (GenAI)
The weakness and profit booking in the IT stocks came after two consecutive days of the Nifty IT index hitting lifetime highs and making a new summit at 44,330.60 level on Wednesday
Stock Market Today: Adani Enterprises has successfully raised $500 million through a share sale, marking its return to the equity markets after a previous cancellation.
The Indian IT major is expected to register a single digit rise in its topline and bottomline compared to the September quarter of FY24
HCL Tech's market cap first time today touched Rs 5.02 trillion after stock hit a new high of Rs 1,852, gaining 2% on the BSE in Friday's intra-day trade.
The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.
With HCL Tech's stock up 3 per cent at 11:58 AM, the market cap of the company stood at Rs 4.9 trillion, and 2 per cent away from the Rs 5-trillion-mark, exchange data showed.
The company's management anticipates double-digit growth for the industry over the next five years, including for HCLTech.
Nifty may pause around 24,850 before moving towards the 25,000 level. In the event of a dip, we expect the index to find support in the 24,450-24,600 zone
Shares of HCL Tech zoomed 4.83 per cent at Rs 1635.85 per share on the BSE in Monday's early morning trade. This came after the IT services major reported a 20.4 per cent year on year increase profits
Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector
Technical charts suggest that Infosys can potentially rally up to 10% from present levels; while TCS and HCL Technologies still look weak.
At 10:00 AM, the stock was the top loser on 30-share Sensex. By comparison, S&P BSE Sensex was up 0.37 per cent at 74,002.66 levels
Key factors, analysts believe, would be deal pipeline, pricing scenario, and outlook on growth, operating margins and products and platforms (P&P) business
Stock market preview Friday, April 26: Global cues mixed, but sharp rise in 10-yr US bond yield to 4.73 per cent may weigh on the trading sentiment. Individual stocks to remain in focus on Q4 results.
IT services company HCL Technologies (HCLTech) has teamed up with SAP to drive innovation and accelerate the adoption of Generative AI, according to a release. With this collaboration, HCLTech will partner with SAP to develop solutions that enable businesses to get better outcomes and speed up business transformation. In partnership with SAP, HCLTech plans to create a repository of Gen AI use cases specific to SAP software, the release added. The use cases will complement cloud solutions from SAP and help customers explore the potential of enhancing SAP solutions with Gen AI. "By bringing together HCLTech's engineering expertise across various industries with SAP Business Technology Platform (SAP BTP), HCLTech aims to deliver innovative solutions that boost employee productivity, streamline operations, accelerate application development and optimise business processes," it added. HCLTech also plans to establish a dedicated Gen AI Center of Excellence, the focus of which will be to
Technology stocks are looking good on the short to medium-term charts, said Nandish Shah of HDFC Securities