HCL Tech shares extend fall, down 6 pc

Extending its downtrend, shares of HCL Technologies today tumbled over 6 per cent after the company's March quarter numbers failed to meet market expectations.
The stock plunged 6.19 per cent to settle at Rs 750.45 on BSE. During the day, it tanked 6.46 per cent to Rs 748.20, its 52-week low.
On NSE, the scrip fell 6.2 per cent to close at Rs 750.30.
The stock had lost 4.5 per cent in the previous session also. In two days, the company's market valuation fell by Rs 6,967.52 crore to Rs 1,05,855.48 crore.
The country's fourth-largest IT services firm HCL Technologies yesterday reported a 14.4 per cent rise in net profit at Rs 1,926 crore for March quarter, helped by growth in lifesciences, public services and telecom.

The firm had posted a net profit of Rs 1,683 crore in the corresponding quarter last fiscal, HCL Technologies had said in a statement.

The Noida-based firm, which booked deals worth over USD 2 billion this quarter, saw revenue growing 15.4 per cent to Rs 10,698 crore, from Rs 9,267 crore in January-March of 2015.
The company follows the July-June fiscal, but will now move to April-March to comply with changes in the Companies Act, 2013.
However, HCL's net profit went up just 0.3 per cent from Rs 1,920 crore in the December 2015 quarter while revenue grew 3.4 per cent from Rs 10,341 crore.