Stock Market update: HCL Tech Ltd shares down by 2% ahead of Q3 results

Shares of IT services company HCL fall by 2% at Rs 1307.60 per share against the previous close at Rs. 1334.25 per share on Friday in early trade.

The shares of IT services company HCL fall by 2% against the previous close at Rs. 1334.25 per share on Friday in early trade. The share price went down to Rs. 1307 per equity share and representing a decrease of 2%. Today, the trade opened at a share price of Rs. 1320.00 per equity share and representing a decrease of 1.07% against the previous close at Rs. 1334.25 per share and hit a high of Rs. 1341.50 per share.

The total income of HCL Technologies Ltd. for the quarter ending September 2021 stood at Rs. 20,895 crores as compared to Rs. 18,793 crore the previous year during the same period. Therefore, representing yearly growth of 10.05%.

HCL Technologies is scheduled to announce its financial results report for the quarter ending December 2021 (Q3FY22) today, that is, 14 January. And, the IT giant is expected to report strong Q3 results.

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. This, analysts say, will be on the back of a solid 4.8 per cent jump in consolidated revenue, which is expected to be anywhere between Rs 21,500 and 22,000 crore. (as per The Economic Times)

The total revenue of HCL Technologies FY21 stood at Rs 76,306 crore as compared to Rs 71,265 crore in the previous year. Therefore, representing revenue growth of 7.07%. The Profit after Tax FY 2021 was estimated to be around Rs. 11,145 crores whereas in the previous year it was Rs. 11,057 crores.

HCL Technologies headquartered in Noida is an Indian multinational IT services company with a revenue of US $11 billion, 2021 and has a current market capitalization of Rs 3,59,805 crores.

 

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