HCL Technologies shares jumped 4% Today, 14 July 2023

The company has announced acquisition, dividend and quarter-end consolidated interim financial statements for the three months period ended June 30, 2023.

Yesterday, the scrip closed at Rs 1109.20 and today it opened at Rs 111.05, closing at Rs 1151.30, up by 3.80%. It has a 52-week high of Rs 1202.70 and it has a 52-week low of Rs 875.65. The company has a market capitalisation of around Rs 3,12,400 crore.

HCL Technologies Ltd issued its Q1FY23 earnings on July 12, 2023. The company recorded revenue from operations of Rs 26,296 crore, a little decrease of 1.2% quarter on quarter (QoQ) but a significant growth of 12.1% year on year (YoY). HCL Tech’s service revenue also fell by 1.1% quarter on quarter but increased by 7.1% year on year in constant currency.

The EBIT was Rs 4460 crore, a 7.85% reduction from the previous quarter but an 11.7% increase year on year. Similarly, net income was reported at Rs 3534 crore, representing an 11.3% decrease year on year but a 7.6% increase year on year.

HCL Technologies Ltd has also declared an interim dividend of Rs 10 per share of Rs 2 for the fiscal year 2023-24. The Board of Directors has determined the record date for the payment of this interim dividend as July 20, 2023. The interim dividend will be paid to shareholders on August 1, 2023.

HCL Technologies has successfully acquired a 100% equity stake in ASAP Group, a prominent German automotive engineering services provider. This strategic acquisition will enable HCL Tech to strengthen its presence in key areas such as autonomous driving, e-mobility, and connectivity.

HCL Technologies Limited is a top global IT services company and one of the top five in India. With a focus on transformational outsourcing, it offers a diverse range of services including software solutions, infrastructure management, engineering, R&D, and BPO across various industries. Leveraging its extensive offshore infrastructure and global presence, it delivers multi-service solutions worldwide.