Mon Oct 14 12:00:00 UTC 2024: ## HCLTech Reports Q2 Results, Reliance Industries Awaits Investors’ Scrutiny

**Mumbai, India:** The Indian stock market witnessed mixed performance in the first half of the week, with HCL Technologies leading the charge with its Q2 results announcement.

HCLTech reported a slight decline in net profit for the second quarter, reaching Rs 4,235 crore compared to Rs 4,257 crore in the previous quarter. Revenue, however, saw a 2.9% increase, reaching Rs 28,862 crore from Rs 28,057 crore. The company also declared an interim dividend of Rs 12 per share. Analysts attribute the dip in profit to sluggish growth in the software segment and the divestment of the State Street BPO.

Investors are closely monitoring HCLTech’s deal pipeline, hiring strategies, and the outlook for its services and software segments. Key verticals like Engineering Research and Development (ER&D), telecom, and Banking, Financial Services, and Insurance (BFSI) are under scrutiny.

Meanwhile, Reliance Industries is set to announce its Q2FY25 results soon, with analysts predicting a mixed performance. While the Oil-to-Chemicals (O2C) segment is expected to face headwinds due to lower refining margins, the telecom and retail segments are projected to show steady growth.

Analysts will be keen to see the impact of recent price hikes on Reliance Jio’s average revenue per user (ARPU) and the performance of the O2C segment, especially in light of weak global refining spreads.

Reliance Industries’ Chairman and Managing Director, Mukesh Ambani, reiterated the company’s commitment to clean energy in the recently released FY24 annual report. Ambani highlighted the development of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, which will be a crucial player in the global shift towards cleaner fuels.

The market awaits further updates on Reliance Industries and HCLTech’s financial performance in the coming days. Analysts will be looking for insights into key growth drivers, strategic initiatives, and future outlooks.

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