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HCL Tech Sees 2Q Rev Growth Over 3.5% Q/q in Constant Currency. Revenue growth to be a result of "broad-based momentum across all service lines, verticals and geographies," HCL Technologies Ltd. says in a statement to exchanges. Company Says EBIT margin for the current quarter is expected to be between 20.5% and 21%. "Good Booking momentum continues this quarter, led by Life Sciences & Healthcare, Telecom & Media and Financial Services verticals," HCL Tech says. "The pipeline continues to look healthy across service lines, verticals and geographies," according to the statement.TCS became the second Indian firm to attain a market valuation of over Rs 9 lakh crore after Reliance Industries. The NiftyIT Index gained today more than 4% as companies present strong quarterly results & projections. #MOMarketUpdates #MotilalOswal #NiftyIT #Indianstockmarket #Itcompanies #HCL #TCS #NSE #BSE #Infosys

Tech Stocks - Northbound journey continued in the tech stocks after better than expected Q1 results announced by Infosys, HCL Tech and Wipro. Both the Tech giants Infosys and HCL Tech closed on a record high today. HDFC Bank- HDFC Bank reported Q1 net profits at Rs6660cr grew at 19.6% YoY (inline to our estimates at Rs6680cr) , NII growing at 8% YoY (3% QoQ) to Rs15660cr (expectation Rs15390cr). Other income declined 18% YoY to Rs4070cr (34% below estimates at Rs6140cr) affected by decline in fees & commission income (37% YoY/49% QoQ decline) due to lockdown . Total provisions spiked to Rs3890cr (49% YoY increase) – Expectation Rs4150cr. GNPA at 1.4% vs 1.3% (QoQ) – expectation 1.3%. NNPA at 0.3% vs 0.4% (expectation 0.4%). #MOMarketUpdates #HDFCBank #HCL #Infosys #MotilalOswal #Indianstockmarkets #nifty #sensex #nifty50 #nse #bse