Tag: IT

Zensar Tech Q1 net profit down 34.08% at Rs 35.03 cr

Zensar Tech Q1 net profit down 34.08% at Rs 35.03 cr

21/07/2017 11:37

Net sales of the company declined moderately by 6.04 per cent at Rs 303.31 crore for the quarter ended June 30, 2017 as against Rs 322.80 crore in the corresponding period last year.

During Apr-Jun quarter, operating expenses dropped by 0.87 per cent to Rs 252.26 crore from Rs 254.48 in year ago period.

Other Income dipped by 11.94 per cent at Rs 11.43 crore versus (Jun’16 Rs 12.98 crore).

Operating Profit slipped by 27.88 per cent to Rs 51.05 crore as against Rs 70.78 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 23.26 per cent in Jun quarter.

Interest grew by 4042.86 per cent y-o-y to Rs 2.90 crore, while Taxation decreased by 45.05 per cent at Rs 12.76 crore (Jun’16 Rs 23.22 crore).

Net Profit during the quarter fell by 34.08 per cent to Rs 35.03 crore from Rs 53.14 crore in the previous year quarter.

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Paytm acquires majority stake in Insider.In

Paytm acquires majority stake in Insider.In

13/07/2017 14:46

Paytm has acquired a majority stake in ticketing platform Insider.In, for events and properties, including NH7 Weekender, EDC and The Grub Fest, for an undisclosed amount, reported PTI.

This will enable all Paytm customers discover a wide selection of events and book instantly, a company statement said.

The country’s organised events industry is currently at Rs 4,000 crore, with organised sporting leagues and events accounting for the largest portion of ticket sales, according to industry estimates.

Online ticketing accounts for only 10 per cent of the overall volume, due to limited event discovery.

After establishing its online movie ticketing service spanning 3,500 screens across 550 cities, Paytm has been expanding into the events ticketing and discovery, helping customers discover events on its platform, it said in a statement.

“Events discovery and ticket booking is a challenge for customers and organisers alike….We believe that digital discovery and events marketing expertise will increase supply of quality events in India. This is a natural extension for us as we continue to build India’s go-to destination for online movies and events,” Madhur Deora, Chief Financial Officer and SVP, Paytm said in a statement.

Insider curates events and experiences so users can seamlessly discover the best way to spend their leisure time. The platform also provides tools, data and analytics to organisers that enables them to conceptualise, market and execute their events more efficiently.

This partnership with Paytm would enable Insider.In to reach more organisers and exponentially grow this ecosystem in India, it said.

MindTree board approves Rs 270 cr share buyback

MindTree board approves Rs 270 cr share buyback

28/06/2017 17:00

IT and outsourcing company Mindtree on Wednesday said that its board has approved the proposal to buyback the fully paid-up equity shares of the company worth Rs 270 crore.

“The board of directors of the company at its meeting on June 28, 2017, approved buyback proposal for purchase by the company of its own fully paid equity shares of Rs 10 each not exceeding 43.20 lakh equity shares, being 2.57 per cent of the total paid up equity share capital, at aprice not exceeding Rs 625 per share for an aggregate amount of Rs 270 crore,” Mindtree said in a filing to BSE.

The buyback would be carried out via the tender offer route under the board approval route, said the company in the filing.

The board has also approved July 11, 2017, to be the Record Date for determining the entitlement and the names of the equity shareholders, it added.

Meanwhile, shares of company closed day’s trade at Rs 531.20 apiece, up 0.82 per cent, on the BSE.

MindTree board to consider buyback of equity shares

MindTree board to consider buyback of equity shares

22/06/2017 16:22

Mindtree, an Indian IT and outsourcing company, on Thursday said that its board would consider the proposal to buyback the fully paid-up equity shares of the company.

“A meeting of the board of directors of the company will be held on June 28, 2017 to consider the proposal to buyback the fully paid-up equity shares of the company,” said Mindtree in a filing to the Bombay Stock Exchange.

Further, pursuant to company’s code for prevention of insider trading, the trading window of the company will be closed from June 26, 2017 to June 30, 2017 (both the days inclusive) for the designated Persons and others, it informed the exchange.

Meanwhile, shares of company closed day’s trade at Rs 520.35 apiece, up 0.21 per cent, on the BSE.

Post Session: Sensex, Nifty end flat in choppy trade; IT, pharma stocks drag

16/06/2017 16:24

The Indian equities ended tad lower in choppy trade on Friday, undermining firm cues from Asian peers, as investors digested the US Federal rates hike, while reports that the Bank of England came close to raise U.K. interest rates also left traders jittery. Most of the Asian markets closed higher as the Bank of Japan maintained status quo in its latest policy review. IT, Teck and pharma stocks witnessed selling pressure amid concerns over earnings outlook. IT bellwether Infosys dipped over 1 per cent after the company announced that Sandeep Dadlani, the head of Americas and global head of manufacturing and retail, has resigned from his post.

The 30-share barometer SENSEX closed at 31056.4, down by 19.33 points or by 0.06 per cent, and the NSE Nifty ended at 9588.05, up by 10 points or by 0.1 per cent.

During the day’s trade, Sensex touched an intraday high of 31182.73 and intraday low of 31017.18, while the NSE Nifty touched intraday high of 9615.85 and intraday low of 9565.5.

The top losers of the BSE Sensex pack were Lupin Ltd. (Rs. 1131.00,-4.40%), Sun Pharmaceutical Industries Ltd. (Rs. 529.15,-2.78%), Wipro Ltd. (Rs. 254.95,-2.24%), Cipla Ltd. (Rs. 537.05,-2.20%), Infosys Ltd. (Rs. 940.50,-1.24%), among others.

On the flip side, Tata Motors Ltd. (Rs. 455.50,+1.57%), ITC Ltd. (Rs. 306.30,+1.46%), Adani Ports & Special Economic Zone Ltd. (Rs. 362.65,+0.67%), State Bank of India (Rs. 285.85,+0.63%), NTPC Ltd. (Rs. 160.25,+0.53%), were among the top gainers on the BSE.

Among the sectors, healthcare and IT stocks emerged as top losers, falling as much as 1.52 per cent and 0.83 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 2994, shares advanced were 1427 while 1400 shares declined and 167 were unchanged.

Post Session: Sensex, Nifty end flat; IT, Teck stocks drag

13/06/2017 15:53

Hit by foreign capital outflows, the Indian equities ended flat with marginal gains on Tuesday as caution prevailed in the market ahead of the US Federal Reserve’s two-day policy meeting decision. Some concerns also came with the private report that farm loan waivers are populist actions and frequent occurrence of such populist actions may lead to risks of impaired credit discipline and weak risk-reward for banks and reduced credit availability for borrowers. IT and Teck stocks witnessed hefty selling, falling nearly 1 per cent each, taking cues from Wall Street which was dragged lower by technology stocks.

The 30-share barometer SENSEX closed at 31103.49, up by 7.79 points or by 0.03 per cent, while the NSE Nifty ended at 9606.9, down by 9.5 points or by 0.1 per cent.

During the day’s trade, Sensex touched an intraday high of 31260.77 and intraday low of 31062.34, while the NSE Nifty touched intraday high of 9654.15 and intraday low of 9595.4.

The top gainers of the BSE Sensex pack were Power Grid Corporation of India Ltd. (Rs. 210.00,+1.94%), Lupin Ltd. (Rs. 1177.40,+1.73%), Housing Development Finance Corporation Ltd. (Rs. 1668.45,+1.52%), NTPC Ltd. (Rs. 160.00,+1.27%), Adani Ports & Special Economic Zone Ltd. (Rs. 359.50,+0.67%), among others.

On the flip side, Tata Motors Ltd. (Rs. 449.60,-1.51%), Tata Consultancy Services Ltd. (Rs. 2453.40,-1.47%), Wipro Ltd. (Rs. 259.35,-1.44%), Hero MotoCorp Ltd. (Rs. 3750.00,-0.65%), Mahindra & Mahindra Ltd. (Rs. 1415.00,-0.65%), were among the top losers on the BSE.

Among the sectors, power and realty stocks emerged as top gainers, rising as much as 0.78 per cent and 0.75 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3024, shares advanced were 1416 while 1395 shares declined and 213 were unchanged.

HCL Technologies Q4 net rises 27.7%; beats estimates

HCL Technologies Q4 net rises 27.7%; beats estimates

11/05/2017 13:09

India’s fourth-biggest software services firm, HCL Technologies Ltd on Thursday reported a better-than-expected growth of 27.7 per cent in its consolidated net profit after taxes (PAT) at Rs 2,475.27 crore, beating analysts’ estimates of Rs 2,091 crore, for the fourth quarter ended March 31, 2017.

“The consolidated net profit of the company stood at Rs 1,938.66 crore during the corresponding quarter ended March 31, 2016,” HCL Technologies Ltd said in a filing to the Bombay Stock Exchange on May 11, 2017.

Further, the consolidated total revenues of the company grew by 20.7 per cent to Rs 13,183.04 crore during Q4 2016-17, as compared to Rs 10,925.02 crore during the previous quarter ended March 31, 2016.

Commenting on the development, HCL Technologies Ltd, President & CEO, C. Vijayakumar said, “We are very pleased with our industry–leading financial results for both the fourth quarter and the full year FY’17. In Q4, we had a healthy sequential growth of 3.8 per cent (constant currency) in revenues at an EBIT margin of 20 per cent. For the year FY’17, we delivered a strong double–digit constant currency revenue growth of 13.7 per cent at an EBIT of 20.3 per cent, which is at the higher end of the guided range.”

Guidance: The company expects revenue to grow between 10.5-12.5 per cent on a constant currency basis in FY18. The constant currency guidance translates to 9.9 per cent to 11.9 per cent in USD terms based on March 31, 2017 rates, and sees operating margin (EBIT) in the 19.5-20.5 per cent range.

The Board of Directors of the company has declared an interim dividend of Rs 6 per equity share of Rs 2 each of the company for the Financial Year 2017-18. The payment date of the said interim dividend shall be June 02, 2017, the company said in a separate filing.

Meanwhile, shares of the company were trading at Rs 836 apiece, down 0.75 per cent, from previous close on BSE at 13:13 hours.

HCL wins Everest Group’s Service Provider of the Year award

HCL wins Everest Group’s Service Provider of the Year award

09/03/2017 13:54

Indian global IT services company HCL Technologies Ltd on Thursday said it has won the Everest Group PEAK Matrix ‘Service Provider of the Year 2017’award for its Healthcare & Life–Sciences practice.

In a filing to the Bombay Stock Exchange, the company said, “HCL wins Everest Group award for Life–Sciences & Healthcare IT Services.”

It was recognized as ‘Star Performer of the Year’ under this category.

The Everest Group ‘Service Provider of the Year’ awards recognize consistent top performers across 21 PEAK Matrix IT Services evaluations over the last year, featuring 73 service providers across all evaluations.

These evaluations are based on a comprehensive framework and set of parameters expected to be most conducive to success in providing IT services across various segments.

Commenting on the development, HCL Technologies Ltd, Senior Corporate Vice President –Consumer & Commercial Services, Karan Puri said, “HCL is proud to be recognized for life–sciences and healthcare by Everest Group. As one of the early movers in this space, HCL has invested in unique business solutions and IPs across the value chain, enabling superior patient experience.” Meanwhile, shares of the company were trading at Rs 845.90 apiece, down 0.11 per cent, from previous close on BSE at 13:58 hours.

Tech Mahindra to buy US-based CJS Solutions Group

Tech Mahindra to buy US-based CJS Solutions Group

06/03/2017 17:14

IT services firm Tech Mahindra Ltd on Monday said it has signed a definitive pact to buy CJS Solutions Group LLC, a US-based healthcare IT consulting company which does business as (DBA) The HCI Group.

In a filing to the Bombay Stock Exchange, the company said, “Tech Mahindra has signed a definitive agreement to acquire CJS Solutions Group LLC, a US-based healthcare Information Technology consulting company which does business as (DBA) The HCI Group.”

The HCI Group works with some of the world’s most prestigious tier-I healthcare service providers, primarily in the US and UK, focusing on providing end-to-end implementation of Electronic Health Record (EHR) and Electronic Medical Record (EMR) software, training and support services. It also has a presence in Europe, Middle East and Asia Pacific, and employs more than 500 professionals globally.

It’s services include enterprise-wide advisory services, with a focus on IT system implementation and training, as well as specialty service lines in integration, testing, go-live, clinical adoption, optimization, HIMSS EMRAM and cyber security.

Commenting on the deal, Tech Mahindra Ltd, MD & CEO, CP Gurnani said, “Healthcare is one of the few sectors globally that is driving adoption of digital technologies. The acquisition will not only position Tech Mahindra as a significant player in the healthcare provider space, but will also provide an opportunity to go deeper in this space via EMR implementation and surrounding services route.”

Meanwhile, shares of the company closed at Rs 499.05 apiece, down 0.98 per cent, from previous close on BSE.

Post Session: Sensex ends lower for 6th session; FMCG, IT stocks down

21/12/2016 16:12

The Indian equities continued lackluster trade for the sixth straight session and settled in negative terrain on Wednesday, weighed down by FMCG and IT stocks, amid sustained selling by foreign portfolio investors and funds, despite firm cues from fellow Asian peers. Lack of any major cues from domestic or global front also kept investors sideline in the lead-up to Christmas.

The 30-share benchmark index closed trade at 26242.38, down by 65.6 points or by 0.25 per cent, and the NSE Nifty ended at 8061.3, down by 21.1 points or by 0.26 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 26396 and intraday low of 26213.51, while the NSE Nifty touched intraday high of 8112.55 and intraday low of 8053.25.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 614.40,-2.25%), ITC Ltd. (Rs. 226.10,-1.44%), Tata Consultancy Services Ltd. (Rs. 2312.75,-1.07%), Hero MotoCorp Ltd. (Rs. 3026.65,-1.00%), Wipro Ltd. (Rs. 462.55,-0.91%), among others.

On the flip side, Maruti Suzuki India Ltd. (Rs. 5169.00,+1.31%), Mahindra & Mahindra Ltd. (Rs. 1193.15,+1.22%), Lupin Ltd. (Rs. 1465.95,+1.17%), NTPC Ltd. (Rs. 163.50,+1.05%), Oil And Natural Gas Corporation Ltd. (Rs. 201.45,+0.78%), were among top gainers on BSE.

On the sectoral front, FMCG and IT stocks emerged as top losers, falling as much as 0.95 per cent and 0.75 per cent respectively.

The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2917, shares advanced were 1267 while 1466 shares declined and 184 were unchanged.