HCL Tech Q1 Results: Stock Falls 1.67%, Touches 52-Week Low

The stock of HCL Technologies Ltd. has declined 1.67% today to close at Rs 927.80 apiece. The company is expected to consider an interim dividend payout and its April-June FY2023 earnings today. The market capitalization of HCL is Rs 2,51,773 crore.

HCL Tech Q1 Results: Stock Falls 1.67%, Touches 52-Week Low

Earlier, the board of directors of the company had informed BSE, “We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, July 12, 2022 to consider amongst others: 1) Un-audited Financial Results of the Company for the quarter ended June 30, 2022. 2) Payment of 2nd Interim dividend for the financial year 2022-23. The Record Date for determining the entitlement of the shareholders for the payment of aforesaid interim dividend shall be July 20, 2022, subject to the approval of the interim dividend by the Board of Directors.”

Earlier HCL Technologies has declared an equity dividend of 2100.00% equivalent to Rs 42 per share for the year ending March 2022. The dividend yield is 4.53% if the current share price of Rs 927.80 is taken into consideration. HCL has a good dividend history and has declared dividend regularly for the last 5 years.

The current market price of HCL is Rs 927.80 apiece. It has touched a 52-week high of Rs 1377.75 apiece and a 52-week low of Rs 924.40 apiece, respectively. It is a company with strong financials. It has received high analyst rating and emerged as street favourite.

It is worth mentioning that HCL Tech has fallen 6% in two days and today the stock has touched its 52-week low ahead of the results.

The PE of the stock is 18.65 which is lesser than sector PE of 27.64.

HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age. Our technology products and services are built on four decades of innovation, with a world-renowned management philosophy, a strong culture of invention and risk-taking, and a relentless focus on customer relationships. HCL also takes pride in its many diversity, social responsibility, sustainability, and education initiatives, according to its website.

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