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HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 266617.60 Crore) operating in IT Software sector.

A total of 610,745 shares changed hands on the counter till 01:04PM (IST).

“There is still room to invest into smallcaps at this point of time but the great move will start looking up whenever we see the interest rate cycle peaking out. I would say that from now onwards, the staggered approach is the right way rather than just putting big money into smallcaps.”

The Tata group company reported an 86.25 per cent increase in consolidated net profit at Rs 637 crore for the June quarter. This is on a 34.15 per cent rise in revenue from operations at Rs 3,995 crore. The basic chemical segment logged a 41 per cent YoY growth while speciality products saw 17 per cent growth for the quarter.

As of 30-Jun-2022, promoters held 59.4 per cent stake in the company, while FIIs held 25.16 per cent and domestic institutional investors had 2.75 per cent.

Most Asian markets were trading lower, tracking an overnight tepid close for US equities. Hurting the sentiment further was a rise in dollar to a one-month high, as Federal Reserve policymakers continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium next week.

A total of 36,236 shares changed hands on the counter till time (IST).

The stock quoted a 52-week high of Rs 298.0 and a 52-week low of Rs 121.75.

Indian market managed to recoup losses on Thursday and closed in the green which suggests strength in the price action. The Nifty50 could make an attempt to reclaim 18000 today or in the coming week which could prove to be a stiff resistance level, suggest experts.

“From one earnings season to the other, we are definitely seeing some progress being made in terms of better operating profits. These are great times for investors who have weathered the correction which took place over the past few months and now the next few weeks and months look quite interesting. I see a lot of reversion to mean and maybe the indices can cross the previous highs.”