HCL Tech rises 3% on good Q1, m-cap surges Rs 3,576 cr

Shares of HCL Technologies today settled with gains of over 3 per cent after it reported good first quarter numbers, following which the market capitalisation of the company improved by Rs 3,576.15 crore.
The company today reported a 14.8 per cent increase in net profit to Rs 2,047 crore for the quarter ended June 30.
The Noida-based firm had posted a net profit of Rs 1,783 crore in the corresponding quarter of the last fiscal.
Reacting to the numbers, shares of the company opened on a strong note at Rs 869, a rise of 8.54 per cent. The stock finally settled for the day at Rs 825.90, up 3.16 per cent.

Following the uptick in the counter, the m-cap of the company increased by Rs 3,576.15 crore and stood at Rs 1,16,521.31 crore at the end of today's trading session.
On the National Stock Exchange, where the stock opened at Rs 857.00, and then jumped over 7 per cent to touch Rs 858.50, the company finally settled at Rs 826.15, up 3.17 per cent.

The uptick assumes significance as the broader market was trading in the negative territory. The 30-share benchmark index Sensex closed at 27,697.51, lower by 284.20 points or 1.02 per cent.
Its revenues for the reported quarter were up 15.9 per cent to Rs 11,336 crore, from Rs 9,777 crore in the year-ago period, as per the US GAAP accounting norms.

For 2016-17, the company expects its revenue to grow 12-14 per cent without fluctuations in currencies.