HCL Technologies, a leading IT services company, reported mixed numbers for the first quarter of FY25, with year-over-year revenue and profit after tax growth, along with an increase in EBIT margin. Despite facing challenges such as discretionary spending pressure and delayed decision-making, the company’s management remains optimistic about growth in the upcoming quarters. Religare Broking, in a research report, highlighted HCL’s development of Gen AI platforms to capitalize on the demand for AI-led solutions.
Meanwhile, Godfrey Philips saw a significant 18% increase in its stock price, reaching a 52-week high. On the other hand, Zomato shares climbed over 3% following an announcement of increased platform fees. In the broader market, Sensex was up 160 points, with stocks like NTPC, Ultratech Cements, and SBI leading the gains.
In the afternoon, Nifty 50 and Sensex continued to show positive momentum, with Nifty up 87 points at 24,589 and Sensex up 200 points at 80,720. The market also saw notable performances from HCL Tech, Bajaj Auto, and ONGC, while Grasim Industries and Asian Paints were among the major losers.
Looking ahead, experts from Geojit Financial Services and Mehta Equities provided insights on market trends and key catalysts to watch out for. Additionally, updates on companies like Piramal Pharma, IREDA, and Avenue Supermarts were also highlighted in the live updates.
Overall, the market showed resilience and positive movements, driven by strong performances from key players in various sectors. Investors are keeping a close eye on developments in the market and upcoming economic data to make informed decisions.
