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HCL Tech shares tank 5% post Q3 results; Here’s what brokerages say

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HCL Tech shares tank 5% post Q3 results; Here’s what brokerages say

Shares of HCL Technologies fell 5% on Monday after the tech company reported quarterly earnings. Shares in the company were down 4.6% at Rs 1,276 on the BSE at 9.17am, the biggest drag on the Nifty50.
HCL Tech reported net profit of Rs 3,442 crore, up 5.4% quarter-on-quarter, on revenue of Rs 22,331 crore, up 8.1% quarter-on-quarter. In comparison, CNBC-TV18 posted a net profit of Rs 3,390 crore on revenue of Rs 21,674 crore.
In dollar terms, the IT services company’s revenue ($2.977 billion) increased 6.7% year-over-year and quarter-over-quarter, while constant currency (CC) revenue increased 7.6% quarter-over-quarter and 15% year-over-year.
On a constant currency basis, revenue grew 7.6% sequentially, the highest in the past 12 years, the company said. This came on the back of strong year-over-year double-digit growth across verticals and regions, HCL Technologies added in the press release.
The total contract value of new deals was $2.135 billion, up 64% year over year.
In addition, the company witnessed strong customer additions across all categories and cash generation remained strong.
In terms of guidance, the IT company expects double-digit constant currency revenue growth in the fourth quarter of FY22 and said its EBIT margin will be between 19% and 21% for the rest of the fiscal year.

Complete News Sourec : CNBC TV18

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“Fortunately, injuries didn’t affect the spine.” Saif Ali Khan receives 10 stitches for a serious stab wound sustained during the home burglary.

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“Fortunately, injuries didn’t affect the spine.” Saif Ali Khan receives 10 stitches for a serious stab wound sustained during the home burglary.

Actor Saif Ali Khan’s house in Bandra, Mumbai was a target for an attempted robbery during the early hours of Thursday morning. The actor was stabbed during the incident and had to urgently be taken to Lilavati hospital and undergo surgery. Now, we have received more updates on it.

We have learnt from sources at the hospital that one of the injuries was quite deep and the actor has received 10 stitches for this stab. The source says, “Fortunately, it has not affected the spine. He was very lucky that the stabs have not affected any of his vital organs. It appears to have been attacked by a knife and he was actually thwarting a robbery attempt.”

The source adds, “Of the six injuries that Saif has suffered, two injuries are deep, two are mid and two are superficial.”

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Coincidentally, at the reported time of the robbery, Saif’s wife Kareena Kapoor Khan has put up an Insta story of a girls night in with her friends Sonam Kapoor and Rhea Kapoor, and sister Karisma Kapoor. It had led to speculations that she was probably not at home during the time of burglary. However her team has released a statement saying, “All members of the household were present at home at the time of the unfortunate incident.”

As per recent reports, three suspects have been detained by the Bandra Police in the case.

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