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Tanushree Jaiswal
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Indian Market
3 IT stocks to watch out for on October 14
5paisa Research Team
11th December 2022 - 11:26 am
On Friday morning, the benchmark indices Nifty 50 and Sensex are trading higher thus putting end to the losing streak.
On Friday morning, the benchmark indices Nifty 50 and Sensex are seen leading the following the global positive sentiments. Sensex is trading at 58,277.94 up by 1.82%, and the Nifty 50 was trading at 17,305.10 up by 1.71%. BSE IT index is at 28,702.55 up by 3.03%, whereas Nifty IT is trading at 28,308.90 up by 2.92%.
Keep a close eye on these trending IT stocks on Friday, 14, October 2022:
Infosys: The company has announced that its board has approved the purchase of assets of Channel Bridge software labs private limited. The company also declared the above estimate results. The PAT stood at Rs 6,021 crore vs Rs 5,421 crore. While the revenue stood at Rs 36,538 crore vs Rs 29,602 crore YoY. The company also declared an interim dividend of Rs 16.50. The company also announced a buyback of shares worth Rs 9,300 crore. The shares of Infosys surged by more than 7% and reached a price of Rs 1487 per share in today's trading session.
HCL technologies: HCLTech and Purdue Global announced a new partnership to provide HCLTech employees with opportunities to further their education. HCL Tech employees and its apprentices based in the United States will be able to pursue courses at Purdue Global to enhance their technology skills. The shares of HCL technology rose by more than 3.5% and are trading at Rs 1016.20 per share.
Mindtree: The company's Q2 earnings beat estimates, as profit rose 7.9% QoQ to Rs 508.7 crore and revenue grows 8.9%. While the operating profit increased by 8.8% to Rs 650.6 crore and the margin dipped to 19.13% in Q2FY23, from 19.2% in Q1FY23. September was the seventh consecutive quarter of 5% plus consecutive revenue growth for the IT major.
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