ICICI Bank Stock: ICICI Bank reported its March 2024 quarter consolidated net grew 18.5 per cent to Rs 11,672 crore. It had reported a net profit of Rs 9,853 crore in the year-ago period.
HCL Technologies shares dropped 6% after reporting Q4FY24 results. Various brokerages offered different perspectives, with targets ranging from Rs 1,300 to Rs 1,700. The company s performance and guidance for FY25 were key points of analysis.
HCL Technologies has slightly reduced its revenue growth guidance for FY24 from 5-6 percent YoY in constant currency terms to now 5-5.5 percent, though it has maintained its margin guidance of 18-19 percent.
Jefferies has maintained a hold view on HCL Technologies for a price target of Rs 1,500. The Q3 results beat estimates of Jefferies on higher-than-expected margins in the software segments while revenue beat in software offset the miss in services.
In a recent report, Kotak Securities said that most enterprises are focused on cost reduction; moreover, trends do not indicate the possibility of recovery in discretionary spending in 1HCY24