HCL Technologies Sees Shares Soar After Impressive Profit Growth

Shares of HCL Technologies surged nearly 8% following an 8.1% rise in its consolidated net profit for Q1 2024-25, driven by major deals totaling Rs 25,500 crore. The company's market valuation increased by Rs 30,990 crore. Other IT stocks like Tech Mahindra and Infosys also saw gains.

Shares of HCL Technologies experienced a nearly 8% surge on Wednesday, propelled by an 8.1% increase in consolidated net profit for the first quarter of 2024-25, mainly due to large deals worth approximately Rs 25,500 crore.

The stock closed at Rs 1,594.30 on the BSE, marking it as the biggest gainer among the BSE Sensex and NSE Nifty firms.

With a market valuation boost of Rs 30,990.06 crore, HCL's rise also coincided with strong performances from other IT giants like Tech Mahindra and Infosys.

(With inputs from agencies.)