Top gainer: BPCL 347 ▲ 6 (+1.8%)
Top loser: Bajaj-Auto 11,497 ▼ 402 (-3.3%)
HCLTech shares hit record high on Q2 earnings, increase in revenue guidance
HCLTech shares surged 1.4% to a record ₹1,882 on the BSE following strong Q2 FY25 results. The company reported a 10.51% increase in net profit, reaching ₹4,235 crore, and an 8.21% rise in revenue to ₹28,862 crore. CEO C Vijayakumar emphasised the strong pipeline in data, AI, and digital engineering, while CFO Shiv Walia highlighted an EBIT margin increase to 18.6%. HCLTech also raised its lower revenue guidance to 3.5-5% and announced a 7% salary hike effective October, with top performers receiving up to 15%. An interim dividend of ₹12 per share was also declared.Read more
RIL shares drop over 1% post Q2 result
Reliance Industries Ltd. (RIL) shares dropped over 1% following the company’s Q2 FY25 results, which showed a 5% decline in net profit to ₹16,563 crore. The weak performance in its oil refining and petrochemical businesses, hurt by global oversupply and lower refining margins, dragged earnings despite better-than-expected results. Retail and telecom segments, however, delivered steady growth. RIL’s consolidated revenue stood at ₹2.35 lakh crore, marginally down from last year. Read more
VA Tech Wabag up 3% after winning order worth ₹1,000 crore from Indosol Solar
VA Tech Wabag’s shares rose 3% on Tuesday after the company announced a ₹1,000 crore order win from Indosol Solar for a 100 MLD seawater desalination plant. The project, marking the company’s foray into the solar photovoltaic sector, involves engineering, procurement, installation, testing, and commissioning, with a 15-year operation and maintenance contract. The plant will support Indosol Solar’s 10 GW integrated Solar PV manufacturing units in Andhra Pradesh. The company’s stock has surged over 286% in the past year, with this order boosting investor confidence following last week’s repeat orders from Reliance Industries. Read more