IT Stocks: The results of four major IT companies came in a week and after the results, two companies showed an upward trend in the prices, while two IT companies are showing selling pressure.
IT Stocks: The results of four major IT companies came in a week and after the results, the prices of two companies showed an upward trend, while two IT companies are showing selling pressure. In the last one week, the country’s largest IT company TCS (Tata Consultancy Services) including Infosys, Wipro (Wipro) and HCL (HCL) came out with the results of December 2021 quarter. Since the October-December 2021 quarter results, TCS and Infosys have gained about 4 per cent so far, while Wipro and HCL have lost about 7 per cent.
TCS (Tata Consultancy Services)
- The country’s largest IT company TCS (TCS) has seen a rise in its prices since the announcement of its December 2021 quarter results. The TCS results were declared on January 12 and the very next day its prices gained more than 1 per cent. In the intra-day, its price had seen a jump of more than 2 percent. The rise in its prices has not stopped yet and its prices have strengthened more than 4 percent so far since the results came out. Right now it is at a price of Rs 4032.75 on NSE.
- The company’s consolidated net profit grew 12.36 per cent year-on-year to Rs 9,769 crore in the December quarter. Apart from this, the company has also announced an interim dividend of Rs 7 per share and the company will buyback shares worth Rs 18 thousand crore at the rate of Rs 4500 per share. Brokerage firms have also advised investors to buy its shares. There is a possibility of an increase of up to 30 percent in its price.
- Since the announcement of the results of the third quarter October-December 2021 of the current financial year 2021-22, the shares of the country’s second largest software company Infosys are showing a rise. Infosys’ financial results were better than expected. Due to this, its prices jumped more than one percent the very next day after the results were announced and today it has become more than 3 percent stronger since the results were announced.
- Infosys’s financial results in the December 2021 quarter were better than expected. Not only has the company’s net profit increased by 12 per cent on an annual basis, but the company has also increased its revenue forecast for the current financial year from 16.5-17.5 per cent to 19.5-20 per cent. Market analysts have raised the target price for Infosys, given the expected strong growth in earnings.
- The results of the giant IT company Wipro were weak in contrast to the estimates in the December quarter. On Wednesday, the very next day after the results came out, its prices fell by about 6 percent and till now it is showing selling pressure. Since this result on NSE, with a fall of more than 6 percent, the price has slipped to Rs 647.85.
- The company had a consolidated net profit of Rs 2969 crore in October-December 2021, which remained almost the same as in December 2020. However, the company’s revenue from operations stood at Rs 20,313 crore with a jump of about 29.6 per cent year-on-year. Brokerage firms have mixed opinions about investing in its shares.
- After the results of the giant IT company HCL Technologies, its shares are showing selling pressure today. Its prices slipped up to 7 percent in early trade today. On January 14, it closed on NSE at a price of Rs 1337.20, while today it slipped to Rs 1243.
- The company’s third quarter net profit declined by 13.6 per cent to Rs 3,442 crore as against Rs 3,982 crore in the same period last year. HCL Technologies gave this information in a regulatory filing on Friday.