HCL Technologies shares jump over 9 pc

Shares of IT services major HCL Technologies zoomed over 9 per cent in early trade on Monday after the company said its revenue and operating margin for the September quarter is expected to be "meaningfully better" than the top end of its previous forecast.

Shares of IT services major HCL Technologies zoomed over 9 percent in early trade on Monday after the company said its revenue and operating margin for the September quarter is expected to be "meaningfully better" than the top end of its previous forecast. The stock jumped 9.28 percent to Rs 789.35 on the BSE.

At the NSE, it zoomed 8.61 percent to Rs 783.85 -- it's one year high. The company expects its revenue growth in constant currency terms to exceed 3.5 percent quarter-on-quarter (q-o-q) for the July-September 2020 period, according to a regulatory filing.

Providing a mid-quarter update, HCL Technologies said it expects its revenue and operating margin for the current quarter to be meaningfully better than the top end of its guidance given in July. "We have seen strong execution during the quarter to date, and continue to execute to the plan this month," it said.

HCL Technologies said its sequential revenue growth for the current quarter in constant currency terms is expected to exceed 3.5 percent, enabled by broad-based momentum across all service lines, verticals, and geographies. In July, while reporting its financial performance for the June 2020 quarter, HCL Technologies had said it expects its revenue to increase q-o-q by an average of 1.5 percent to 2.5 percent in constant currency for the next three quarters.

Also, it had guided for its operating margin to be between 19.5 percent and 20.5 percent for FY'21.