The
IT major HCL Tech published its Q1 financial reports on 12th July, 2024.Its net
profit jumps 20.45% to Rs.4257 crore, revenue from operations increases over
6.69% to Rs.28057 crore Year on year basis.
Country's third
largest IT company HCL Tech reported a stunning growth in the first quarter of
the financial year 2024-2025.Its net profit increases 20.45%to Rs.4257 crore
compared to Rs.3534 crore in the same quarter previous year.
The company's revenue
growth from operations recorded at 6.69%to Rs. 28057 crore in the FY2025 in Q1.
It was Rs.26286 crore in the last year. This results surpassed the market
expectations. EBIT margins at 17.1%, healthy one on year on year basis.
The IT major HCL Tech
announced an interim dividend of Rs.12 per share on the face value of Rs.2 each
for the FY 2024-2025.The record date was fixed on 23rd July, 2024 by the
company. Final disbursement will be on 1st August, 2024.
The company's future
guidance for the FY 2025 is very sound expecting a 3 to 5% on YOY basis. The
revenue growth expected between 3 to 5%.The EBIT margins expected between 18 to
19 per cent as per the company's press release.
𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗳 𝗛𝗖𝗟 𝗧𝗲𝗰𝗵:
HCL Tech closed on
Friday at Rs.1560.20 (3.19%).In weekly time frame the stock made a nice green
candle on Friday (12/07/2024), which is above the high of the last week's
candle. RSI crossed 60 level now at 62.02, which is a good signal for high
upward momentum.
This week, HCL Tech
has made a golden crossover in its chart. The short term 9 EMA crossed over the
long term 20 EMA. So it’s a good opportunity to go long above the high of the
current candle keeping a stop loss below the low of the same candle. We combine
EMA crossover with RSI for our own trading setups.
From the above two
positive signals, the stock has given this week, we can see that there is a
potential for the stock to give a move up to Rs. 1700 in the coming days,
within a short period. Always maintain a stop loss to be protected from losses
if the stock does not move in our favor.
Disclaimer: The information provided on MoneyWiseMind is for educational and informational purposes only. It is not intended to be financial advice, and you should not rely on it as such. Before making any financial decisions, you should consult a licensed financial advisor.
