Tag: IT

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.

Post Session: Bears dominate D-St for 4th straight session; IT, Teck stocks drag

17/11/2016 16:38

The key domestic benchmark indices continued their losing streak for the fourth straight session on Thursday, weighed down by losses in IT, Teck, consumer durables, healthcare and metal stocks, amid sustained foreign fund outflows coupled with weakening trend globally as investors remained in a risk-off mode.

The 30-share benchmark index closed trading at 26227.62, down by 71.07 points or by 0.27 per cent, and the NSE Nifty ended at 8079.95, down by 31.65 points or by 0.39 per cent.

The market expert opined that the government’s decision to demonetise currency notes affected spending in various sectors, impacting demand-led and consumption stocks in the market.

During the day’s trade, the BSE Sensex touched intraday high of 26449.87 and intraday low of 26155.4, while the NSE Nifty touched intraday high of 8151.25 and intraday low of 8060.3.

In line with benchmark indices, the broader market also ended in red with the BSE MIDCAP closing at 11999.25, down by 45.22 points or by 0.38 per cent, while the BSE SMLCAP ending at 11839.79, down by 68.32 points or by 0.57 per cent.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 296.35,-4.26%), Bajaj Auto Ltd. (Rs. 2544.35,-2.55%), Tata Consultancy Services Ltd. (Rs. 2142.15,-2.20%), Coal India Ltd. (Rs. 306.10,-2.08%), Asian Paints Ltd. (Rs. 918.25,-1.72%), among others.

On the flip side, Tata Motors Ltd. (Rs. 472.60,+3.21%), Power Grid Corporation of India Ltd. (Rs. 192.95,+2.66%), GAIL (India) Ltd. (Rs. 435.00,+1.52%), Cipla Ltd. (Rs. 544.70,+1.12%), NTPC Ltd. (Rs. 151.50,+1.00%), were among top gainers on BSE.

On the sectoral front, Teck and IT stocks emerged as top losers, falling as much as 1.66 per cent and 1.38 per cent respectively.

The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2929, shares advanced were 1029 while 1733 shares declined and 167 were unchanged.

Sensex, Nifty trim gain; auto and IT index up 2%

16/11/2016 14:37

The key domestic benchmark indices continued to trade in positive terrain, albeit paring most of early gains, helped by gains in auto and IT index, tracking a positive trend across most Asian markets and a bullish finish at Wall Street.

At 14:21 hours, the 30-share benchmark index was trading at 26468.86, up by 164.23 points or by 0.62 per cent, and the NSE Nifty was at 8154.85, up by 46.4 points or by 0.57 per cent.

In the day’s trade so-far, Sensex touched an intraday high of 26621.4 and intraday low of 26326.89, while the NSE Nifty touched intraday high of 8210.05 and intraday low of 8100.5.

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 925.75,+3.76%), Tata Consultancy Services Ltd. (Rs. 2194.40,+3.41%), Maruti Suzuki India Ltd. (Rs. 4990.00,+3.04%), Bajaj Auto Ltd. (Rs. 2643.55,+2.63%), Bharti Airtel Ltd. (Rs. 310.80,+2.61%), among others.

On the flip side, Dr. Reddy’s Laboratories Ltd. (Rs. 3217.00,-2.77%), Cipla Ltd. (Rs. 539.70,-2.36%), Lupin Ltd. (Rs. 1415.50,-1.72%), ITC Ltd. (Rs. 234.75,-1.24%), GAIL (India) Ltd. (Rs. 430.75,-1.19%), were among top losers on the BSE.

On the sectoral front, auto and IT stocks emerged as top gainers, adding as much as 2.45 per cent and 2.28 per cent respectively.

The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2769, shares advanced were 1276 while 1334 shares declined and 159 were unchanged.

Bulls continue to dominate D-Street; IT, metal stocks lead

19/09/2016 13:26

Indian equity benchmarks continued to trade in the positive territory during the afternoon session on Monday tracking positive cues from markets across Asia ahead of the central bank meetings in Japan and the US this week, which may offer cues over the outlook for the global economy.

At 1:02 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,671.13, up by 72.1 points or 0.25 per cent while the NSE Nifty was at 8,811.45, up by 31.6 points or 0.36 per cent.

Buying momentum was witnessed mainly in the IT, metal and oil & gas sector stocks

The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2414.00,+2.24%), ICICI Bank Ltd. (Rs. 271.95,+1.64%), Oil And Natural Gas Corporation Ltd. (Rs. 254.70,+1.35%), Adani Ports & Special Economic Zone Ltd. (Rs. 275.00,+1.20%), Asian Paints Ltd. (Rs. 1168.90,+1.12%), among others.

Major show spoilers were Maruti Suzuki India Ltd. (Rs. 5499.95,-1.19%), Bajaj Auto Ltd. (Rs. 2952.45,-0.92%), Housing Development Finance Corporation Ltd. (Rs. 1391.00,-0.67%), Axis Bank Ltd. (Rs. 597.80,-0.56%), HDFC Bank Ltd. (Rs. 1291.45,-0.51%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,832 shares traded, 1,479 advanced while 1,157 shares declined and 196 remained unchanged.

On the global front, Asian markets were green as oil prices bounced back, bolstering sentiment while the focus was firmly on the US Fed’s and the BoJ’s policy meets this week.