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.
In the last few weeks alone, analysts at JP Morgan, Kotak Institutional Equities and Nomura had sounded caution on the IT sector, suggesting that the heydays may be over, at least for now
HCL Tech has guided for revenue growth of 12-14 per cent CC in FY23 on the back of continued traction in the services business, healthy deal intake and deal pipeline.
Brokerages expect the firm's earnings before interest and tax (EBIT) margins to have fallen sequentially by up to 90 basis points on supply side pressures and subdued P&P performance.
In a Q&A, the company's CEO & MD dwells on the firm's growth momentum, supply challenges and demand
The BSE m-cap stood at Rs 272.8 trillion by close
Funari joined the firm to spearhead its growth for all industries and capabilities in Brazil, where HCL employs more than 800 people
After surging to its new all-time high of 53,290.81 in early trading, the Sensex ended 18.79 points, or 0.04 per cent, lower at 53,140.06
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.
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Strong deal pipeline is keeping analysts bullish; 41 out of 45 have a 'buy' rating
Dollar revenues stood at $2,507 million, a 4.5 per cent rise in constant currency terms over the previous quarter
The stock has outperformed the market by surging 81 per cent in the past six months, against 31 per cent rise in the S&P BSE Sensex
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The company has also declared an interim dividend of Rs 2 for the financial year 2020-21
For the full year, its loss stood at Rs 136.33 crore, while revenue was at Rs 1,815.17 crore in FY20, the company added in a statement
Brokerages believe correction offers attractive entry point