HCL Tech shares jump over 6 pc; m-cap rises by Rs 8,915 cr after Q1 results

Shares of HCL Technologies jumped over 6 per cent on Thursday after the company's revenue from operations rose 18.3 per cent in June quarter. The scrip rose 6.43 per cent to close at Rs 1,088 on the BSE. Intra-day, the stock zoomed 7.11 per cent to Rs 1,095.

On the NSE, shares jumped 6.41 per cent to close at Rs 1,088.25. It was the top gainer among the frontline companies on both the key indices.

The company's market valuation rose Rs 8,915.25 crore to Rs 1,47,567.25 crore on the BSE. In terms of volume, 1.31 lakh shares were traded on the BSE, while over 62 lakh shares were traded on the NSE.

"HCL Technologies kicked-off 2019-20 with revenue beating expectations," Edelweiss Research said in a report. The company on Wednesday reported a 8.2 per cent fall in consolidated net profit to Rs 2,230 crore for the June quarter, and said it was "cautiously optimistic" about growth in the ongoing fiscal.

HCL Technologies' net profit stood at Rs 2,431 crore in the year-ago period. Its revenue from operations rose 18.3 per cent to Rs 16,427 crore in the June quarter from Rs 13,878 crore a year ago. The company has maintained its forecast of 2019-20 revenue growth to be between 14-16 per cent in constant currency terms.

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