Technical charts show that the large-cap IT stocks can fall up to 14% from present levels, while the Nifty IT index can shed another 6%.
Organic and inorganic growth has made it the largest enterprise software player in the country
Technology major HCLTech, is expanding its global delivery footprint here with the launch of a new tech center that is expected to provide 5,000 additional jobs, officials said. The announcement came after the meeting of Chief Minister A Revanth Reddy and IT Minister D Sridhar Babu with the global CEO and Managing Director of HCLTech, C Vijayakumar, on the inaugural day of the World Economic Forum Annual Meeting here in Davos on Tuesday. The new center in an area of 3,20,000 sqft will be providing cutting-edge cloud, AI and digital transformation solutions to global clients across industries such as hi-tech, life sciences and financial services, an official press release said. "Hyderabad, with its world-class infrastructure and high-quality talent pool, has been a key location on HCLTech's global network. The new center will bring cutting edge capabilities to our global client base and contribute to the local technology ecosystem" Vijaykumar said. He invited the CM and IT Minister
Located in the Hi-Tech City, the 320,000 sq ft facility will house 5,000 people and has received Gold Certification from the Indian Green Building Council
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)
Q3 FY25 results January 13: HCL Tech, Delta Corp, Angel One, Anand Rathi among firms to report earnings for the quarter that ended on D
HCLTech, which is also set to release its third-quarter earnings on January 13, is projected to lead growth among Tier-I IT firms
The Nifty IT index outperformed the Nifty 50 and the broader index in the second-half of 2024 with a gain of nearly 20%. Key levels to track on IT shares ahead of Q3 results.
At 02:31 pm; Nifty IT index, the top loser among sectoral indices, was down 2.3 per cent, as compared to 0.43 per cent decline in the Nifty 50.
Here is the complete list of companies whose shares will turn ex-date tomorrow, along with their respective corporate announcements and other key details
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.
Technical charts suggest that heavyweights TCS and Infosys seem to be favourably placed, while Wipro could face some downward pressure. Check key levels here.
Accenture share price: While a strong recovery in discretionary demand may take a few quarters, it is unlikely to worsen further, analysts said after Q4 results
HCL Technologies chairperson Roshni Nadar Malhotra on Friday met Telangana Chief Minister A Revanth Reddy and extended an invitation for the opening ceremony of HCL's new office in HITEC City here. The new facility is set to create an additional 5,000 engineering jobs, further contributing to the growth of the local economy and enhancing employment opportunities in the state, an official release said. "Roshni Nadar Malhotra, chairperson of HCL Technologies visited Chief Minister Revanth Reddy to extend a personal invitation for the opening ceremony of HCL's new office in HITEC City, Hyderabad," it said. The discussions were centered on potential partnerships between HCL GUVI and Telangana's Skill University to enhance training programmes and expand educational resources. The chief minister expressed his gratitude to Roshni Nadar for HCL's continuous support and presence in Telangana. He acknowledged the company's significant contributions towards creating employment opportunities
The Nifty IT index had shed 3% on Wednesday ahead of the US Fed policy decision. Here are the key pivot points to track on top IT stocks with potential upside and downside targets as per charts.
The company's management anticipates double-digit growth for the industry over the next five years, including for HCLTech.
The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.