Nadar Malhotra stated that HCL Group sees Foxconn as a great strategic partner. “A lot a lot of people know them much more for their manufacturing prowess, but a big part of the universe of their manufacturing is the work that they do (is) in semiconductor design.”
The NSE IT Index surged 1.9% on Monday, building on Friday s 5.4% jump in the benchmark following December quarter earnings by Infosys and TCS which were not as bleak as investors had expected.
IRFC extended uptrend for third consecutive session with healthy bullish candlestick pattern on the daily charts and the volume remained above average for yet another session.
Brokerage firm Jefferies maintained a hold rating on HCL Technologies and an underperform rating on Wipro post-Q3 results. Goldman Sachs maintained a buy rating on Polycab India and UBS initiated coverage on SBI Cards with a neutral rating.