Key Takeaways
- GIFT Nifty signals a weak Tuesday start, down 165.5 points (0.68%) to 24,052, after Monday’s Nifty 50 close of 24,211 and Sensex close of 77,616.40
- HCL Tech’s Q1 profit rose 20.32% YoY to Rs 4,624 crore; the company also announced a Rs 3,500 crore investment to enter the AI data center business
- ICICI Prudential AMC’s Q1 net profit rose 23% YoY to Rs 964.63 crore on 17.6% revenue growth
- Mylan (Viatris) plans to sell up to 92 million Biocon shares worth up to $363 million at a 7.9% discount to Monday’s close
- Two Irish lessors sought DGCA deregistration of four Boeing 737 MAX jets leased to SpiceJet; the airline says the aircraft have been non-operational and their exit will cut lease costs
Indian benchmark indices closed nearly flat on Monday, July 13, with the Nifty 50 up 4.10 points at 24,211 and the Sensex adding 47.01 points to 77,616.40, recovering from an early 700-point Sensex slide triggered by fresh US-Iran tensions. A 3.59% rally in Nifty IT, led by Tata Consultancy Services’ Q1 results and a multi-million-dollar AI deal with ABB, drove the recovery; market breadth stayed positive at 2,207 advances against 2,006 declines on the NSE.
HCL Tech Profit Up 20%, Enters AI Data Center Business
HCL Technologies posted a 20.32% YoY rise in consolidated net profit to Rs 4,624 crore for Q1 FY27, beating Bloomberg estimates of Rs 4,530 crore, per its BSE filing. Revenue grew 13.94% YoY to Rs 34,579 crore. Alongside the results, HCL Tech announced a Rs 3,500 crore investment to enter the AI data center business, targeting up to 50 MW of capacity, following rival TCS into the segment. The board also declared an interim dividend of Rs 12 per share, with July 17 as the record date and July 27 as the payment date.
Check Live: HCL TECHNOLOGIES Option Chain (NSE) — Live OI, PCR & Greeks
ICICI Prudential AMC Net Profit Rises 23%
ICICI Prudential AMC’s Q1 net profit climbed 23% YoY to Rs 964.63 crore, against Rs 783.64 crore a year earlier, with revenue from operations up 17.6% YoY to Rs 1,564.22 crore. Quarterly average assets under management stood at Rs 11.17 lakh crore, a 13.4% market share, per the company’s investor presentation.
Mylan Plans $363 Million Biocon Stake Sale
Mylan Inc, a Viatris unit, plans to sell up to 92 million Biocon shares, up to 5.64% of the company’s outstanding stock, worth up to Rs 34.81 billion ($363 million), according to a term sheet reviewed by Reuters. The floor price of Rs 378.50 marks a 7.9% discount to Biocon’s Monday close of Rs 410.95. It is a secondary sale, so Biocon will not receive any proceeds.
SpiceJet Faces Fresh Boeing 737 MAX Deregistration Bid
Two Irish lessors have sought deregistration of four Boeing 737 MAX aircraft leased to SpiceJet, per a DGCA document released Monday, Reuters reported. SpiceJet said the aircraft have remained non-operational for a prolonged period and that deregistration will eliminate the associated lease-rental costs.
Tata Elxsi, LTTS Results Due Today
Tata Elxsi and L&T Technology Services both report Q1 FY27 results later on Tuesday, with earnings calls scheduled for 7 pm and 8 pm IST respectively, per exchange filings.
GIFT Nifty Points to Weak Start
GIFT Nifty was trading at 24,052, down 165.5 points (0.68%), signaling a negative opening for Dalal Street. India VIX closed 8.41% higher at 13.28 on Monday, and the rupee slipped to 95.62 against the dollar, down 0.3%, Reuters reported, as Iran’s renewed closure of the Strait of Hormuz pushed Brent crude up 3% to near $78 a barrel.
Kaynes Technology featured among stocks in the F&O ban period, per NSE data. Nifty support holds near 24,000, with resistance at 24,300-24,400.
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NiftyTrader Desk View
| Stock | Key News Trigger | Trader View |
|---|---|---|
| HCL Tech | Q1 profit up 20.32% YoY to Rs 4,624 crore; Rs 3,500 crore AI data center investment; Rs 12/share dividend, record date July 17 | Investors will track FY27 guidance and data center rollout details |
| ICICI Prudential AMC | Q1 PAT up 23% YoY to Rs 964.63 crore; QAAUM at Rs 11.17 lakh crore, 13.4% market share | Mutual fund inflow trends and QAAUM growth remain the key watch points |
| Biocon | Mylan block deal floor price Rs 378.50, a 7.9% discount to last close | Final deal size and execution price will determine near-term price action |
| SpiceJet | DGCA deregistration filing for four Boeing 737 MAX jets by two Irish lessors | Fleet and lessor developments remain the key sentiment driver |
| Tata Elxsi / LTTS | Q1 FY27 results due Tuesday; earnings calls at 7 pm and 8 pm IST | Revenue growth, margins and demand commentary will be monitored |
| Nifty 50 | GIFT Nifty near 24,052, down 0.68%; support at 24,000, resistance at 24,300-24,400 | A break on either side of this range would determine near-term direction |
Source: BSE/NSE exchange filings, company investor presentations, Reuters, DGCA filings
Bottom Line
Monday’s flat close hid a sharp intraday recovery led by IT earnings, but a weaker GIFT Nifty, an elevated VIX, and rising crude point to a cautious Tuesday open. HCL Tech’s data center push, ICICI Prudential AMC’s profit growth, the Biocon block deal, SpiceJet’s fleet situation, and today’s Tata Elxsi and LTTS results should keep these stocks in focus through the session.
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This article is for informational purposes only and does not constitute investment advice. Investments in securities are subject to market risks; please consult a SEBI-registered investment advisor before making any investment decisions.
