HCL Technologies shares rally 5 per cent on Q3 results

HCL Technologies' shares on Wednesday surged about 6 per cent on the bourses, after the IT services firm reported 28.7 per cent jump in net profit at Rs 602.5 crore for its third quarter (Q3) ended March 31.

The company's revenues were up 26 per cent at Rs 5,215.6 crore, from Rs 4,138.2 crore in Q3 of 2010-11.

Shares of the company opened at Rs 500.50 and gathered momentum to witness an early high of Rs 508.90, a jump of 5.83 per cent over its previous closing price of Rs 480.85.

At 1.23 pm, the stock was trading 5.16 per cent higher at Rs 505.65 on the Bombay Stock Exchange.


Similar movement was witnessed on the National Stock Exchange as well where the stock, after opening at Rs 502, galloped 5.70 per cent to touch a high of Rs 508.30.

At 1.23 pm, the stock was trading 5.36 per cent higher at Rs 506.60.

Marketmen said the bullish numbers helped the stock gain momentum. Besides, the broader market was also trading on the positive territory.

HCL Technologies also announced an interim dividend of Rs 2 per equity share of the face value of Rs 2 each.

With PTI inputs