As the markets gear up for the next earnings call, indices appear to be brimming with a certain level of optimism. This is exhibited by the performance or progress of Indian marquee indices over the past week. The BSE Sensex crossed the 80,000 mark in intraday trade on July 3.
HCL Shares Rally
In addition, another stock that has been doing well for the past few trading sessions has been HCL Tech. While many tech stocks have wavered in the recent past, the Gurugram-based tech firm has had a relatively stable performance at the equity markets.
The company’s shares have seen consistent growth over past week. The share prices have jumped 4.83 per cent or Rs 70.00, just in the past 5 days.
Tech Stocks Earnings
This comes at a time when many tech firms, including HCL Tech, are gearing up to publish their quarterly results for the first quarter of this fiscal year or FY25.
According to analysts who spoke to Live Mint, the tech sector is expected to see revenue growth and revenue growth, in addition, is expected to improve sequentially.
According to analysts, these tech companies are anticipated to come out with a mixed-bag, with sluggish growth and improved operating margins.
HCL stocks are doing well in a situation where other tech stocks like Infosys and TCS have had hot and cold days. In fact, TCS, slipped by over a 1 per cent in the intraday trade yesterday. HCL also recently launched a delivery centre in Bihar’s capital, Patna.
At 11:13 IST, the HCL Tech stocks jumped by 2.72 per cent or Rs 40.35, taking the cumulative value of individual shares past the coveted Rs 1,500 mark, at Rs 1,521.35 per share.
The BSE Sensex gained 0.22 per cent or 175.66 points climbing to 80,162.45. Meanwhile, the NSE Nifty gained 0.21 per cent or 50.05 points, reaching 24,336.55.
Published on: Thursday, July 04, 2024, 11:22 AM IST
