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The company said its sales fell to 5.73 billion Swiss francs ($6.41 billion) from 6.44 billion francs a year earlier, beating the 5.66 billion francs forecast by analysts in a consensus of estimates.

HCL Technologies, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 286617.31 Crore) operating in IT Software sector.

The brokerage expects revenues to grow at 12.8% CAGR in FY23-25E.

Goldman Sachs maintained its neutral rating on ICICI Prudential Life Insurance Company post March quarter results but raised the target price to Rs 490 from Rs 460 earlier.

As of 31-Mar-2023, promoters held 41.94 per cent stake in the company, while FIIs held 25.39 per cent and domestic institutional investors had 15.59 per cent.

A total of 908 shares changed hands on the counter till 10:57AM (IST)

HCL Technologies reported a consolidated net profit of Rs 3,983 crore for the quarter ended March. This is an increase of 11% from Rs 3,593 crore clocked in the corresponding period of last year. The net profit beat the ET Now poll estimate of Rs 3,860 crore.

In the NSE list of stocks with a market cap of over Rs 1000 crore, seven stocks crossed their previous 5-year high value at the close on April 20, suggesting bullishness in counters.

Sandip Sabharwal is optimistic about the growth prospects of large banks in India, particularly ICICI Bank. He also highlights the railway investment theme as strong and suggests identifying stocks that can benefit disproportionately. In terms of IT, while there is a definite slowdown that could persist over the following year, there are specific companies with specific projects or businesses that will stand out.

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