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HCL Employee Dies from Cardiac Arrest: Tragic News
HCL Employee Dies from Cardiac Arrest: Tragic NewsIn a tragic incident, Nitin Edwin Michael, a 40-year-old HCL employee, died from a cardiac arrest in Nagpur.This unfortunate event occurred on Friday when Nitin went to the company’s washroom and was later found unresponsive.He was rushed to the All India Institute of Medical Sciences (AIIMS) in Nagpur, but doctors declared him dead on…
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HCL Tech's Stock Takes a Dive: Insights on March Quarter Earnings
HCL Technologies witnessed a significant downturn in its stock value, plummeting over 6% following the release of its March quarter earnings report. The stock stumbled to Rs 1,382.45 on the BSE and Rs 1,382.10 on the NSE, marking it as the top underperformer among both the BSE Sensex and NSE Nifty companies.
The company reported a stagnant year-on-year growth in net profit for the March quarter, amounting to Rs 3,986 crore. This figure represents an 8.4% decline from the previous quarter, attributed to escalating employee costs and a tightening of IT expenditures worldwide.
Despite these challenges, HCL Technologies deemed its performance as “decent” considering the prevailing global macroeconomic conditions. The company’s consolidated net profit for the fourth quarter of FY24 stood at Rs 3,986 crore, compared to Rs 3,983 crore in the corresponding period of the previous year.
Additionally, the company provided guidance for the fiscal year 2025, forecasting a 3–5% growth in revenue in constant currency terms and an EBIT margin ranging from 18% to 19%.
As HCL Tech navigates through these economic fluctuations, investors await further insights into the company’s strategies for maintaining growth and profitability amidst a dynamic market landscape.
Foxconn to set up chip testing plant in India
TAIWAN’S Foxconn will partner with tech firm HCL Group for a semiconductor assembly and testing facility in India, the companies said on Thu
Infosys is scheduled to release its March quarter results at 3:45 p.m. on Thursday (April 13, 2023). The Bengaluru-based IT major’s executiv
Infosys is scheduled to release its March quarter results at 3:45 p.m. on Thursday (April 13, 2023). The Bengaluru-based IT major’s executive team will hold a news conference today at 4:30 p.m. During this engagement, the participating executives would answer media queries, which would be webcast live on the Infosys website’s ‘Investor Relations section. It will be archived and made available after 6:30 p.m. today.
