Stock Market Today: GIFT Nifty indicates a bullish start; HCL Technology, RVNL in focus

Stock Market Today: Gift Nifty, the former SGX Nifty, denotes a prosperous beginning. At 24,613, Nifty futures on the Gift Nifty moved up 67 points. For new positive momentum to start, the index needs to break over the 24,600–24,620 resistance line. Until then, investors should think about purchasing the Nifty at dips, since support is located around 24,170. For the sixth week running, domestic markets saw gains, helped by strong profits from IT businesses.

Stock Market Today: Stocks in focus

RVNL

The Ministry of Railways uses Rail Vikas Nigam Limited (RVNL), a central public sector organisation (PSU) in India, to carry out project implementation and create transport infrastructure. Rail Vikas Nigam obtained a Letter of Acceptance (LoA) from Central Railway for OHE modification work in the Nagpur division. The project is valued at Rs 132.6 crore.

HCL Technology

The international Indian information technology (IT) consultancy firm HCL Technologies Limited, doing business as HCLTech, is based in Noida. In the first quarter, HCL Technologies had a 6.8% rise in net profit to Rs 4,257 crore, but revenue decreased 1.6% to Rs 28,057 crore and EBIT decreased by 4.4% to Rs 4,795 crore. The percentage of the Ebit margin decreased from 17.6% to 17.1%.

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