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MUMBAI: HCL Technologies is expected to report a near-21 per cent quarter-on-quarter fall in consolidated net profit to Rs 3,152 crore for the quarter ended March. The IT services company’s consolidated revenues is expected to grow 2.5 per cent to Rs 19,779.6 crore.
The company had guided for 2-3 per cent quarter-on-quarter growth in revenue in constant currency terms. The company will report its March quarter earnings on Friday.
The IT company’s operating performance in the quarter is likely to be underwhelming as analysts expect consolidated operating margin to shrink 430-470 basis points on a sequential basis because of wage hikes undertaken by the company.
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NEW DELHI: Nifty IT stocks were trading on a negative note at 02:30PM (IST) on Tuesday. While HCL Technologies (down 3.25 per cent), Larsen & Toubro Infotech (down 2.28 per cent), Mindtree (down 1.82 per cent), Tech Mahindra (down 1.71 per cent) and Coforge (down 1.66 per cent) were the top losers in the index. The Nifty IT index was trading 1.27 per cent down at 25903.7 around 02:30PM. Benchmark NSE Nifty50 index was down 60.70 points at 14298.75, while the BSE Sensex was down 216.44 points at 47732.98. Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red. Shares of PNB, Vodafone Idea, YES Bank, Tata Motors and SBI were among the most traded shares on the NSE.
NEW DELHI: Nifty IT index was trading with gains at 12:21PM (IST) on Tuesday. Shares of MPhasis (up 5.64 per cent), Coforge (up 5.06 per cent), Mindtree (up 3.22 per cent), HCL Technologies (up 2.64 per cent) and Tata Consultancy Services (up 1.9 per cent) were among the top gainers. The Nifty IT index was trading 1.81 per cent up at 26502.8 around 12:21PM. Benchmark NSE Nifty50 index was up 67.60 points at 14997.1, while the BSE Sensex was up 283.2 points at 50678.28. Among the 50 stocks in the Nifty index, 28 were trading in the green, while 22 were in the red. Shares of Vodafone Idea, PNB, Bank of Baroda, SAIL and Tata Power were among the most traded shares on the NSE.
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