HCL Technologies Hits Record High After Mid-Quarter Business Update

On Monday, shares of HCL Technologies rose over 6 percent to touch a record high of Rs 767.80 on BSE after the company released its mid-quarter business update.

The company said that it expects the revenue and the operating margin for the current September-ended quarter to be "meaningfully better" than the top end of the guidance we had provided in July 2020.

"We have seen strong execution during the quarter to date, and continue to execute to the plan this month," HCL Technologies said in a stock exchange filing.

"The Revenue growth for the current quarter is expected to exceed 3.5% quarter on quarter in constant currency, enabled by broad-based momentum across all service lines, verticals and geographies," it said adding that the EBIT% (earnings before interest and taxes percentage) for the current quarter is expected to be between 20.5 percent and 21 percent.

"Good Booking momentum continues this quarter, led by Life Sciences & Healthcare, Telecom & Media and Financial Services verticals," it said.

"The pipeline continues to look healthy across service lines, verticals and geographies," it added.