HCL Tech slumps after Q4 earnings

HCL Technologies tumbled 4.12% to Rs 955.50 at 9:33 IST on BSE after consolidated net profit rose 5.9% to Rs 1783 crore on 5.5% growth in revenue to Rs 9777 crore in Q4 June 2015 over Q3 March 2015.

The Q4 result was announced before market hours today, 3 August 2015. The results are as per US GAAP.

Meanwhile, the S&P BSE Sensex was up 63.67 points or 0.23% at 28,178.23.

On BSE, so far 37,000 shares were traded in the counter as against average daily volume of 1.47 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 5.24% at the day's low of Rs 944.35 so far during the day. The stock fell 3.35% at the day's high of Rs 963.15 so far during the day. The stock had hit a record high of Rs 1,058.20 on 11 March 2015. The stock had hit a 52-week low of Rs 725.18 on 15 December 2014.

The stock had outperformed the market over the past one month till 31 July 2015, advancing 8.2% compared with Sensex's 1.2% rise. The scrip had also outperformed the market in past one quarter, surging 13.31% as against Sensex's 4.08% rise.

The large-cap company has equity capital of Rs 281.20 crore. Face value per share is Rs 2.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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