Latest news with #HCLTechnologies
Business Standard
5 days ago
- Business
- Business Standard
HCL Technologies collaborates with AMD
To enterprise digital transformation worldwide through advanced solutions in AI, digital and cloud HCL Technologies (HCLTech) and AMD (NASDAQ: AMD), a leader in high-performance and adaptive computing, have announced a strategic alliance to accelerate enterprise digital transformation worldwide through advanced solutions in AI, digital and cloud. This collaboration combines the strengths of both companies to create a robust digital ecosystem that boosts enterprise digital transformation and enhances customer experience. By co-investing in innovation labs and training programs, HCLTech and AMD aim to provide enterprises with innovative tools that unlock new business opportunities and enhance operational efficiency. The joint development centers established through this alliance will serve as testbeds for advanced technologies, conducting proof-of-concept tests to hasten the time-to-market for innovative enterprise tools. Workforce training and reskilling initiatives will ensure that enterprises are well-equipped to navigate the evolving digital landscape.
Time of India
5 days ago
- Business
- Time of India
Stocks Feel the West Asia Heat, But Don't Boil Over
Indian equities retreated Monday after the US risked its own billion-dollar-plus military assets to pound subsurface Iranian nuclear sites over the weekend, but the broadest gauges erased initial losses to end about half a percent lower following modest gains in crude oil prices . 'Markets will closely watch for further escalation in West Asia that could affect oil supply and pricing,' said Nilesh Shah, MD, Kotak Mahindra AMC. 'It will be fair to assume the risk aversion will rise with escalation and will have an adverse impact on markets.' The Sensex shed 511.36 points, or 0.6%, at 81,896, while the Nifty declined 140.50 points, or 0.5%, to settle at 24,670. Technology bellwethers Infosys, HCL Technologies and TCS, which together account for the second biggest Nifty weighting, fell 1-3% and led the decliners. The technology pack drifted after the revenue guidance by Accenture, the world's largest services company by market value, fell short of market expectations. Rupee, Hedging Costs Hold Steady9 Both indices, which fell as much as 1% earlier in the day, erased a portion of the losses on expectations that the Iranian response to the US strikes would not be severe. Tehran's threat that it would block the Strait of Hormuz —a critical route for the global oil trade—has raised both the geopolitical risk quotient and investor caution for emerging markets susceptible to fuel price fluctuations. The measured advance in oil prices on Monday reflected market expectations of a restrained reaction by Iran to the US attacks. Brent crude futures rose 0.8% to $77.60 a barrel after opening above $80. Bonds—from US Treasuries to European securities—weakened on concerns higher oil prices could raise inflationary pressures. Gold futures advanced 0.2% at $3,393.40 per ounce in New York. 'Recent events suggest the US and Israel have established airspace dominance and inflicted significant damage on Iran's ability to counter-attack,' said Mihir Vora, CIO, Trust AMC. 'As a result, it may not be easy to disrupt the sea-traffic movement in the Gulf.' Vora said as long as oil stays within the $65-86 range, India can manage the volatility. 'Only if it spikes to extreme levels—like $100-120—can oil create problems,' he said. Elsewhere in Asia, most markets ended weak. Japan fell 0.1%, South Korea declined 0.2%, Indonesia dipped 1.7% and Taiwan dropped 1.4%. China and Hong Kong rose 0.7% each. The pan-Europe index Stoxx 600 closed 0.28% lower. The pan-Europe index Stoxx 600 was down 0.26% when this report was going into publication. At home, the Nifty Midcap 150 index rose 0.4%, while the Nifty Smallcap 250 advanced 0.8%. Of the total 4,240 stocks traded on the BSE, 2,198 declined and 1,862 advanced. The India VIX—the market's fear gauge—rose 2.74% to 14.05, indicating elevated nervousness among traders.
Time of India
5 days ago
- Business
- Time of India
Equities decline amid US-Iran tensions and rising oil prices
Mumbai: Indian equities retreated Monday after the US risked its own billion-dollar-plus military assets to pound subsurface Iranian nuclear sites over the weekend, but the broadest gauges erased initial losses to end about half a percent lower following modest gains in crude oil prices. "Markets will closely watch for further escalation in West Asia that could affect oil supply and pricing," said Nilesh Shah, MD, Kotak Mahindra AMC. "It will be fair to assume the risk aversion will rise with escalation and will have an adverse impact on markets." The Sensex shed 511.36 points, or 0.6%, at 81,896, while the Nifty declined 140.50 points, or 0.5%, to settle at 24,670. Technology bellwethers Infosys , HCL Technologies and TCS , which together account for the second biggest Nifty weighting, fell 1-3% and led the decliners. The technology pack drifted after the revenue guidance by Accenture, the world's largest services company by market value, fell short of market expectations. Agencies VIX Rises 2.7% Both indices, which fell as much as 1% earlier in the day, erased a portion of the losses on expectations that the Iranian response to the US strikes would not be severe. Tehran's threat that it would block the Strait of Hormuz -a critical route for the global oil trade-has raised both the geopolitical risk quotient and investor caution for emerging markets susceptible to fuel price fluctuations. The measured advance in oil prices on Monday reflected market expectations of a restrained reaction by Iran to the US attacks. Brent crude futures rose 0.8% to $77.60 a barrel after opening above $80. Bonds-from US Treasuries to European securities-weakened on concerns higher oil prices could raise inflationary pressures. Gold futures advanced 0.2% at $3,393.40 per ounce in New York. "Recent events suggest the US and Israel have established airspace dominance and inflicted significant damage on Iran's ability to counter-attack," said Mihir Vora, CIO, Trust AMC. "As a result, it may not be easy to disrupt the sea-traffic movement in the Gulf." 'No Oil Shock Yet' Vora said as long as oil stays within the $65-86 range, India can manage the volatility. "Only if it spikes to extreme levels-like $100-120-can oil create problems," he said. Elsewhere in Asia, most markets ended weak. Japan fell 0.1%, South Korea declined 0.2%, Indonesia dipped 1.7% and Taiwan dropped 1.4%. China and Hong Kong rose 0.7% each. The pan-Europe index Stoxx 600 closed 0.28% lower. The pan-Europe index Stoxx 600 was down 0.26% when this report was going into publication. At home, the Nifty Midcap 150 index rose 0.4%, while the Nifty Smallcap 250 advanced 0.8%. Of the total 4,240 stocks traded on the BSE, 2,198 declined and 1,862 advanced. The India VIX-the market's fear gauge-rose 2.74% to 14.05, indicating elevated nervousness among traders.
Business Upturn
6 days ago
- Business
- Business Upturn
Nifty 50 top losers today, June 23: Infosys, HCL Technologies, Larsen & Toubro, Hero MotoCorp, Mahindra & Mahindra and more
The Indian equity market ended Monday's trading session (June 23) in negative territory, with both benchmark indices witnessing moderate declines. The BSE Sensex dropped 511.38 points, or 0.62%, to close at 81,896.79, while the NSE Nifty slipped below the crucial 25,000 mark, ending 140.50 points lower at 24,971.90. Among the biggest losers of the day were well-known names such as Infosys, HCL Technologies and Larsen & Toubro. Let's take a closer look at the top losers of the Nifty 50, according to Trendlyne. Nifty 50 top losers on June 23 Infosys closed at ₹1,584.70, down 2.4%. HCL Technologies closed at ₹1,699.90, down 2.3%. Larsen & Toubro closed at ₹3,579.00, down 2.3%. Hero MotoCorp closed at ₹4,247.20, down 2.1%. Mahindra & Mahindra closed at ₹3,136.00, down 1.5%. Hindustan Unilever closed at ₹2,276.00, down 1.3%. Tata Consultancy Services closed at ₹3,392.00, down 1.3%. ITC closed at ₹413.40, down 1.2%. Wipro closed at ₹263.50, down 1.1%. Bajaj Auto closed at ₹8,277.00, down 1.1%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash HCL TechnologiesHero MotocorpInfosysLarsen & ToubroNifty Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
6 days ago
- Business
- Business Standard
SMIDs show resilience as benchmarks slide amid geopolitical tensions
The broader market showed some resilience even as benchmark equity indices traded lower, with Dalal Street investors remaining cautious after the US struck three nuclear facilities in Iran, siding with Israel in the ongoing geopolitical conflict in West Asia. The benchmark indices, which logged their worst fall since June 13 this year, have recouped some losses from their intraday lows but continue to trade in the red. At last check, the BSE Sensex was trading at 81,873.96, down 534.21 points or 0.65 per cent. The index was 397 points above its intraday low of 81,476.76, having traded in the range of 81,476.76 – 81,984.44 so far today. The NSE Nifty50, on the other hand, recovered 127.45 points from its day's low to trade at 24,952.30, down 160.10 points or 0.64 per cent from its previous close. The index has fluctuated in the range of 24,824.85 – 24,988.10 during the session. CATCH STOCK MARKET UPDATES TODAY LIVE From the Sensex pack, barring six stocks—Bharat Electronics (up 2.78 per cent), Trent (up 2.78 per cent), Adani Ports (up 0.83 per cent), Bajaj Finance (up 0.76 per cent), Bharti Airtel (up 0.20 per cent), and Enternal (up 0.16 per cent)—all other 24 constituent stocks were trading lower, dragged by Infosys, HCL Technologies, Hindustan Unilever, Mahindra & Mahindra, Larsen & Toubro, and Tata Consultancy Services (TCS), which were trading lower in the range of 2.31 per cent - 1.23 per cent. Market breadth turns negative The market breadth turned negative as 1,546 out of 2,767 traded stocks on the NSE were trading lower, while 1,142 traded with gains, and 79 remained flat. As many as 32 stocks were quoted slipping to their 52-week lows, while the same number of stocks touched their 52-week highs on the NSE. The number of stocks hitting their lower circuits on the NSE stood at 82, while 52 were quoted touching their upper limit. Broader markets outperform benchmark Among the broader market indices on the NSE, the Nifty Smallcap100 was outperforming others, trading higher by 0.40 per cent, led by Kfin Technologies and Zen Technologies, which ended higher by 5 per cent each. Meanwhile, the Nifty Midcap100 index was trading higher by 0.12 per cent, led by Glenmark Pharmaceuticals (up 3 per cent), Polycab India (up 3 per cent), and 2.63 per cent. Sectoral markets trade lower Barring the Nifty Metal and Media indices, all other sectoral indices on the NSE were trading lower. Among them, the Nifty IT index was the top laggard, trading lower by 1.46 per cent, dragged by Infosys (down 2.48 per cent), HCL Technologies (down 1.7 per cent), and Wipro (down 1.5 per cent). The other sectoral indices on the NSE traded lower, falling in the range of 0.13 per cent to 0.90 per cent. Experts' view The market decline today, Vinit Bolinjkar, Head of Research at Ventura, said, reflects heightened geopolitical tensions, following Iran's closure of the Strait of Hormuz in retaliation for US-led nuclear strikes on its facilities. "As a vital route for nearly a fifth of global oil trade, the Strait's shutdown has driven crude prices higher and shaken investor sentiment globally." "While short-term volatility is likely to persist, long-term investors should remain focused on fundamentals and selectively explore value in the current correction," said Bolinjkar. From a technical perspective, Devarsh Vakil, Head of Prime Research at HDFC Securities, said the support levels for the Nifty50 have shifted upwards to 24,800 levels. The immediate resistance, Vakil said, is now placed at 25,222 levels.
