The 30 stock S&P BSE Sensex closed 684.64 points or 1.20 per cent higher at 57,919.97 points against its previous day's close at 57,235.33 points. Earlier, the Sensex started the day sharply higher at 58,162.74 points and surged to a high of 58,435.12 points in the intra-day. The Sensex pared part of the gains due to profit-taking in the last hour of the trade. It touched a low of 57,848.23 points in the intra-day.
Shares of HCL Technologies on Tuesday dipped 3 per cent after the company’s June 2021 quarter earnings failed to enthuse investors.
The stock went lower by 3 per cent to Rs 969.50 on the BSE. At the NSE, it dipped 3 per cent to Rs 969.35.
At 3.18 pm, 2.41 per cent to Rs 976.10 on the BSE.
On Monday, IT services major HCL Technologies posted a 9.9 per cent rise in consolidated net profit to Rs 3,214 crore for the June 2021 quarter and exuded confidence in logging double-digit constant currency growth in FY22 on the back of strong deal pipeline.
Also, Shiv Nadar, a pioneer in the Indian IT sector, has stepped down as the managing director and board member of the company, a year after handing over the reins of the IT major to his daughter, Roshni Nadar Malhotra.
C Vijayakumar, president and CEO of the company, will take on managing director with a title of CEO and MD for a term of five years with effect from July 20.
The Noida-headquartered company had registered a net profit of Rs 2,925 crore in the April-June 2020 quarter (as per US GAAP). Its revenue grew 12.5 per cent to Rs 20,068 crore in the quarter under review, from Rs 17,841 crore in the year-ago period.
HCL Technologies announced its numbers after the close of market hours.
Sanjeev Hota, head (research) at Sharekhan by BNP Paribas, said HCL Tech reported below-than-expected revenue growth and operating profitability. At the same time, net profit remained in-line with its expectation on the back of lower tax provisions.