Friday, 17 October 2014

TCS, HCL Tech slump after quarterly earnings

After seeing initial volatility, key benchmark indices moved in a narrow range in morning trade. The barometer index, the S&P BSE Sensex, was currently trading below the psychological 26,000 mark, having alternately moved above and below that level in intraday trade so far. The Sensex was currently down 6.02 points or 0.02% at 25,993.32. The market breadth indicating the overall health of the market was negative. Meanwhile, foreign portfolio investors sold shares worth a net Rs 1128.37 crore yesterday, 16 October 2014, as per provisional data.
TCS tumbled after as the company's operating profit margin (OPM) dropped on sequential basis in Q2 September 2014 and after the company forecast the current period will be soft. HCL Technologies slumped as its earnings before interest, taxes, depreciation and amortization (EBITDA) declined 1.1% in Q1 September 2014 over Q4 June 2014. 
The CNX Nifty was up 4.40 points or 0.06% at 7,752.60. The index hit a high of 7,769.45 in intraday trade. The index hit a low of 7,729.65 in intraday trade, matching the intraday low hit yesterday, 16 October 2014, which was its lowest level since 13 August 2014.
The BSE Mid-Cap index was down 3.42 points or 0.04% at 9,240.53. The BSE Small-Cap index was down 4.69 points or 0.05% at 10,338.40.
The market breadth indicating the overall health of the market was negative. On BSE, 990 shares dropped while 980 shares rose. A total of 84 shares were unchanged.
TCS tumbled after as the company's operating profit margin (OPM) dropped on sequential basis in Q2 September 2014 and after the company forecast the current period will be soft. The stock was off 7.27% at Rs 2,484. The stock hit a high of Rs 2,509.50 and a low of Rs 2,451 so far in the day. On BSE, 2.35 lakh shares exchanged hands in the counter so far, compared with average daily volume of 75,777 shares in the past one quarter. The company's consolidated net profit fell 5.8% to Rs 5244 crore on 7.7% growth in revenue to Rs 23816 crore in Q2 September 2014 over Q1 June 2014. The operating profit rose 7.03% to Rs 6800.40 crore in Q2 September 2014 over Q1 June 2014. The OPM declined to 28.55% in Q2 September 2014, from 28.73% in Q1 June 2014. The result was announced after market hours yesterday, 16 October 2014.
TCS predicts a soft quarter in the three months through December as the holiday season slows outsourcing work at industries ranging from retail to manufacturing, Chief Executive Officer N. Chandrasekaran told reporters after the announcement of the second quarter results yesterday, 16 October 2014.
HCL Technologies slumped as its earnings before interest, taxes, depreciation and amortization (EBITDA) declined 1.1% in Q1 September 2014 over Q4 June 2014. The stock was off 6.44% at Rs 1,549.30. The stock hit a high of Rs 1,600 and a low of Rs 1,510.60 so far in the day. The company's consolidated net profit as per US accounting standards rose 2.1% to Rs 1873 crore on 3.7% growth in revenue to Rs 8735 crore in Q1 September 2014 over Q4 June 2014. EBITDA declined 1.1% to 2192 crore in Q1 September 2014 over Q4 June 2014. EBITDA margin dropped to 25.1% in Q1 September 2014, from 26.3% in Q4 June 2014. The result was announced before market hours today, 17 October 2014.
Among other IT stocks, Tech Mahindra (down 1.13%), MindTree (down 1.31%), MphasiS (down 1.52%), and Wipro (down 0.8%) declined.Infosys rose 0.17% at Rs 3,872.

HCL Tech tumbles after Q1 results

The result was announced before trading hours today, 17 October 2014.
Meanwhile, the BSE Sensex was up 29.45 points, or 0.11%, to 26,028.79.
On BSE, so far 1.02 lakh shares were traded in the counter, compared with an average volume of 43,069 shares in the past one quarter.
The stock hit a high of Rs 1,600 and a low of Rs 1,510.60 so far during the day. The stock hit a record high of Rs 1,775.40 on 7 October 2014. The stock hit a 52-week low of Rs 1,034 on 25 October 2013.
The stock had outperformed the market over the past one month till 16 October 2014, rising 3.03% compared with 1.86% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.93% as against Sensex's 1.76% rise.
The large-cap company has an equity capital of Rs 140.26 crore. Face value per share is Rs 2.
HCL Technologies' earnings before interest & tax (EBIT) rose 2.4% to Rs 2088 crore in Q1 September 2014 over Q4 June 2014. EBIT Margin stood at 23.9% in Q1 September 2014, lower than 24.2% in Q4 June 2014.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) fell 1.1% to Rs 2192 crore in Q1 September 2014 over Q4 June 2014. EBITDA Margin stood at 25.1% in Q1 September 2014, lower than 26.3% in Q4 June 2014.
HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

HCL Tech Q1 net profit at Rs 16825.60 million

HCL Technologies Ltd has posted a net profit of Rs. 16825.60 million for the quarter ended September 30, 2014 as compared to Rs. 12909.70 million for the quarter ended September 30, 2013. 
Total Income has increased from Rs. 39580.80 million for the quarter ended September 30, 2013 to Rs. 44194.80 million for the quarter ended September 30, 2014.
The company has announced that the Board of Directors of the Company at its meeting held on October 17, 2014, inter alia, has declared an Interim dividend of Rs. 6/- per equity shares of Rs. 2/- each of the Company. The payment date of the said interim dividend shall be November 03, 2014. 

Monday, 10 March 2014

SLC with HCL invests in IT transformation programme

The UK-based Student Loans Company (SLC) today said that it has invested in an IT transformation programme with HCL Great Britain Ltd. (HCL) to advance its lending and payments services for its rapidly growing customer base. “HCL will work with Deloitte and Misys on the core systems replacement programme. It will lead the programme as prime systems integration partner with support from Deloitte as an implementation partner and Misys providing the core banking software (Bank Fusion),” the company said in the filling to the Bombay Stock Exchange Commenting on the investment, SLC, Chief Executive Officer, Mick Laverty said, “This major investment forms part of a wider business transformation programme and is part of SLC’s long-term strategy to improve and simplify the student finance system, as well as expand our services in the future. It is a significant milestone towards achieving our vision of becoming a digital, customer-focused centre of excellence.” This significant programme will provide an automated, secure and streamlined customer experience across multiple channels, including digital.

Friday, 21 February 2014

HCL denies any plans to sell $ 10 bn stake

HCL Corp has denied a Wall Street Journal report that said its founder Shiv Nadar was seeking potential buyers for his USD 10 billion stake in the company, reported Reuters. In a statement, HCL said, “HCL Corporation denies any plans to exit HCL Technologies.” Earlie, a WSJ report had said that the billionaire founder of HCL Technologies Ltd. is sounding out potential buyers for his stake in the company, India's fourth-largest software and outsourcing firm. Shiv Nadar controls 62 per cent of HCL, which is listed on the Bombay Stock Exchange, and has yet to hire bankers to advise him on a sale, the report said.

Tuesday, 11 February 2014

HCL Tech launches global twitter recruitment campaign

IT major, HCL Technologies, said that it has launched the first ever global Twitter recruitment campaign called ‘COOLESTINTERVIEWEVER’. Starting February 10, HCL will conduct a series of interviews exclusively over Twitter, offering the winning candidate an opportunity to work on a yearlong strategic project with the company's top management, the company said in a filing to the Bombay Stock Exchange. Commenting on the development, HCL, Technologies, Chief Human Resources Officer, Prithvi Shergill, said, “This social media campaign is an extension of our employee-centric culture, designed to uncover new talent in the IT field while strengthening our position as a progressive organization utilizing new age media to refresh the recruitment process.” The #COOLESTINTERVIEWEVER will run for three consecutive weeks, connecting participants from all over the world with HCL HR executives through Twitter.

Thursday, 16 January 2014

HCL Technologies - Announces Q2 results


HCL Technologies Ltd has announced the following Unaudited results for the quarter ended December 31, 2013:

The Company has posted a net profit of Rs. 12978.70 million for the quarter ended December 31, 2013 as compared to Rs. 7247.20 million for the quarter ended December 31, 2012. Total Income is Rs. 39758.60 million for the quarter ended December 31, 2013 where as the same was at Rs. 28061.40 million for the quarter ended December 31, 2012.

During the quarter ended June 30, 2013, in accordance with the terms of a Scheme of arrangement under Sections 391 to 394 of the Companies Act, 1956, approved by the Honble High Court of Delhi vide its order dated April 12, 2013, the IT enabled services division of HCL Comnet Systems & Services Limited, a subsidiary, has been demerged and transferred to the Company on going concern basis with effect from April 01, 2012, the appointed date.

In view of the above, the results of the operations of the transferred division for the period July 01, 2012 to June 30, 2013 have been included in the statement of financial results and the segment results of Infrastructure services segment for the quarter and previous year ended June 30, 2013. However, the net profit of the transferred division for the period April 01, 2012 to June 30, 2012 of Rs. 13,552 lacs net of tax Rs. 9,354 lacs have been reflected in the Statement of financial results of the Company for the previous year ended June 30, 2013 under the head "Exceptional item" and are not included in segment results.

Accordingly, the results for the three months and half year ended December 31, 2013 are not comparable with the results for the corresponding period of the previous year.

The Consolidated Results are as follows

The Consolidated Results are as follows: (in million $)

The Group has posted a net income attributable to HCL Technologies Limited Shareholders of $ 241.6 million for the quarter ended December 31, 2013 as compared to $ 173.8 million for the quarter ended December 31, 2012. Revenues has increased from $ 1154.3 million for the quarter ended December 31, 2012 to $ 1321.3 million for the quarter ended December 31, 2013.