3 IT stocks to watch out for on July 19
Sensex is trading at 54,575.81, up by 0.10%, and the Nifty 50 was trading at 16,294.75, up by 0.10%.
The benchmark indices Nifty 50 and Sensex are trading flat, thus continuing the gaining streak from the last trading session. Nifty IT index is at 27,327.35, up by 0.02%, whereas BSE IT is trading at 27,960.43, up by 0.02%.
Keep a close eye on these trending IT stocks on Tuesday, 19 July 2022:
L&T Infotech Limited: Larsen and Toubro Infotech recently, posted a 28% increase in consolidated net profit at Rs 633.5 crore in the first quarter ended June 30, 2022. It had registered a profit of Rs 496.3 crore in the same period a year ago. The consolidated income from operations of Larsen and Toubro Infotech (LTI) increased by 30.62% to Rs 4,522.8 crore during the reported quarter from Rs 3,462.5 crore in June quarter last year. In addition to that, the company's revenue grew by 34.12% to Rs 2,162.1 crore in June 2022 quarter from Rs 1,612 crore a year ago. The shares of LTI were up by 1.88% on the BSE today.
HCL Technologies Limited: HCL Technologies has signed a multi-year deal to drive the modernization of DSM's core IT business systems and transition to a product-based IT operating model. With a cloud-first strategy, rapid delivery, and next-generation security and network practice, HCL will assist DSM, a purpose-driven, science-based worldwide leader in health, nutrition, and bioscience, in accelerating its digital transformation. Shares of the company were down by 0.66% on the BSE today.
Happiest Minds Technologies Limited: Happiest Minds Technologies purchased a fully built-up ready-to-use commercial property spread over 2.4 lakh square feet in Bengaluru for Rs 101 crore. The building increases the company's seating capacity in Bengaluru by around 30% and is consistent with plans for development as well as the goal of enhancing delivery capabilities across existing and upcoming areas like Bhubaneswar. The scrip of the IT company was up by 1.49% on the BSE today.
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