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HCL Tech shares hit 12-year high on strong Q2

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HCL Technologies shares rose as much as 7 per cent to a 12-year high on Thursday after its October-December earnings beat estimates.

HCL Tech shares were up 6.4 per cent as of 10.16 a.m. after earlier hitting its highest intraday level since February 2000. India's fourth-largest software services provider on Thursday beat estimates with a 68.4 per cent jump in quarterly profit. (Read: HCL Tech Q2 net soars 68%)

Wipro, which is due to report earnings on Friday, gained as much as 3.5 per cent ahead of its quarterly results on Friday. Earlier in the day, UBS upgraded Wipro to "buy" from "sell", saying revenue momentum will start picking up from the October-December quarter.
 


Copyright Thomson Reuters 2013

Story first published on: January 17, 2013 10:28 (IST)

Tags: HCL Tech, Wipro, UBS

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