The strategic acquisition will bolster HCL's capability in digital engineering driven by data engineering and increase its presence in Central and Eastern Europe.
On constant currency basis, revenue was up 7.6% sequentially, one of the best quarters in the last 12 years, said the IT firm
HCL Technologies is scheduled to announce Q3 results on Friday, while HDFC Bank will report numbers on Saturday. Adani group stocks may be in focus on the back of MoU with POSCO.
The median forecast of seven brokerages pegs growth in HCL Tech's Q3 consolidated net profit at 3.4 per cent on a quarter-on-quarter (QoQ) basis, at around Rs 3,350-3,400 crore.
The October-December (Q3) quarter is expected to be another strong quarter for IT companies after strong performance witnessed in Q2FY22.
IT stocks were in demand on hopes of strong Q3 earnings post Accenture performance. 63 Moons has zoomed 117% this month, while stocks like CyberTech, Brightcom and D-Link have soared over 30% so far
Till 09:26 am; around 8.15 million equity shares or 0.30 per cent stake of the company had changed hands on the NSE, the exchange data showed
Nifty should be held long with the stoploss of 16,650.
The underneath strength, preferably read as price action, has been able to hold ground around the major neckline supports for these stocks
Major IT stocks are either on verge of breakout or holding the positive bias, the positive sentiment may see up to 10% gains
Accenture reported strong revenue in Q1FY22 and upgraded its annual guidance by a massive 700bps as it continues to gain from demand for Cloud transformation.
Jayaram had led the sustainability and climate change practices at KPMG and Det Norske Veritas
The stock has been underperforming peers over the past couple of months