The Nifty IT pack rebounded with an 18.4 per cent rise this month. Before this, Nifty IT's best show was in June 2020 when it rose 22.5 per cent.
Technology stocks witnessed some profit-taking on Friday following a 19% rally in the Nifty IT index this July.
Thus far in the month of July, the Nifty IT index rallied 15 per cent, as compared to 0.6 per cent rise in the Nifty 50.
HCLTech said the planned capital outlay for the project will be around ₹14,257 crore, including financial assistance from the Odisha government.
Laxmikant Shukla, technical analyst at YES Securities maintains a constructive view on HCL Tech, Tech Mahindra and TCS, and predicts up to 14 per cent upside for these stocks.
HCL Tech expects demand to remain resilient as the industry transitions from AI disrupted to AI-native services, driven by ongoing modernization imperatives and AI-led transformation.
HCLTech plans a ₹730 crore AI-optimised data centre and Global Development Centre in Bhubaneswar, creating 6,000 high-skilled jobs and boosting digital infrastructure
The State Level Single Window Clearance Authority approved projects across 11 districts, with HCL Technologies and ACME Cleantech among the biggest investors
The latest package kept him as the highest-earning CEO among Indian IT services companies
The new facility in Gujarat's GIFT City will deliver AI-led solutions for financial services while supporting technology innovation and industry-academia collaboration
However, despite recovery from lows, the Nifty IT index underperformed the market by falling 22 per cent, as against a 7.2 per cent decline in the Nifty 50 thus far in CY2026.
Robust bookings, steady execution contrast with conservative revenue guidance
HCL Tech reported a 20.3 per cent increase in net profit for the first quarter to ₹4,624 crore on a year-on-year basis. Revenue for the quarter was up 13.9 per cent to ₹34,579 crore.
Gift Nifty futures were trading 168 points or 0.69 per cent lower at 24,050 levels, signalling a gap-down start. Meanwhile, shares of HCL Tech, Asian Paints and Biocon will be in focus today.
HCL Technologies on Monday posted over 20 per cent year-on-year rise in its consolidated net profit for the June quarter of the current fiscal at Rs 4624 crore, and the IT major retained its revenue growth guidance at 1-4 per cent for FY27. The revenue from operations came in at 14 per cent higher at Rs 34,579 crore for Q1FY27, according to a BSE filing. Profit (attributable to owners of the company) stood at Rs 4,624 crore during the just ended quarter, up from Rs 3,843 crore in the corresponding period of the preceding financial year. "The Board of Directors has declared an interim dividend of Rs 12 per equity share of Rs 2 each of the company for the financial year 2026-27," the filing said. The record date for the payment of the interim dividend is July 17, 2026, and the payment date of the interim dividend is July 27, 2026, it added. Roshni Nadar Malhotra, Chairperson of HCLTech noted that AI is accelerating the transformation of global enterprises and unlocking new growth ..
At 12:44 PM on Monday, the Nifty IT index was the top gainer among sectoral indices, up 4.24 per cent, as compared to 0.01 per cent rise in the Nifty 50.
Q1FY27 company results: Firms including Nuvoco Vistas Corporation, Bajaj Consumer Care, Khaitan Chemicals & Fertilizers and Plastiblends are also to release their April- June earnings today
Stocks to watch today: HCL Tech, DMart, IndiGo and oil marketing companies are among key stocks to track today amid results announcement and rising crude oil prices.
HCL Tech Q1 results expectation: HCL Technologies will post its Q1FY27 results on July 13 after market hours. The company's board will also consider second interim dividend.
At 09:38 AM on Friday, the Nifty IT index was the top gainer among sectoral indices, up 1.8 per cent, as compared to a 1 per cent rise in the Nifty 50.