3 IT stocks to watch out for on July 12

3 IT stocks to watch out for on July 12

by 5paisa Research Team Last Updated: 2022-07-12T11:22:20+05:30

Sensex is trading 54,206.45, down by 0.35%, and the Nifty 50 was trading at 16,150.35, down by 0.40%.

The benchmark indices Nifty 50 and Sensex are trading were trading lower, as the US markets dipped due to weak earning session reported by major companies.

Sensex is trading 54,206.45, down by 0.35%, and the Nifty 50 was trading at 16,150.35, down by 0.40%. Nifty IT index is at 27,398.15 up by 0.06%, whereas BSE IT is trading at 27,990.31 down by 0.06%.

Keep a close eye on these trending IT stocks on Tuesday, 12, July 2022:

HCL Technologies Limited: The board of the IT behemoth HCL Technologies Ltd. will convene on Tuesday, July 12, to discuss the financial results for the first quarter that ended on June 30, 2022 (Q1FY23), as well as the distribution of the second interim dividend for the fiscal year 2022–23. While sales for the March quarter increased 15% from a year earlier to 22,597 crore, HCL Tech reported a roughly 24 percent increase in net profit for the fourth quarter of fiscal year 22 at $3,593 crore. The record date for HCL Tech to determine the shareholders' eligibility to receive the aforementioned interim dividend is July 20, 2022.The shares of HCL Tech were down by 1.08% on the BSE, today.

Tata Consultancy Services Limited : Tata Consultancy Services (TCS) shares tumbled on Monday, after India's largest software services exporter disappointed the Street with its quarterly performance. TCS also declared an interim dividend of Rs 8 per share of Re 1 each on July 8, while reporting reported a 5% increase in its net profit at Rs 9,478 crore for the first quarter of the current fiscal as compared to Rs 9,008 crore from the same quarter a year ago. The ex-dividend date is fixed at 16 July 2022, for the purpose. While the PAT increased on-year, it was down 4.5% sequentially from Rs 9,926 crore recorded in the previous quarter ending March 2022.The shares of TCS were up by 0.60%, on the BSE, today.

Intellect Design Arena Limited: Bank of Mauritius, the country’s central bank and regulator, has embarked on a technology transformation with India-based banking tech supplier Intellect Design Arena. Intellect Design Arena will implement its Intellect Quantum banking tech solution and assist with the IT infrastructure overhaul at the bank.Intellect Quantum is specially designed for central banks, monetary authorities, and debt offices.It will replace a range of legacy tech at Bank of Mauritius, it is understood, including the long-sunsetted Bankmaster core banking system from Finastra.Intellect Design Arena already has a number of central banks in Africa as clients, such as Central Bank of Lesotho, Central Bank of Seychelles, and National Bank of Ethiopia.The scrip of the IT company was down  by 1.55%, on the BSE today.

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