HCL Tech shares fall over 4% on dollar revenue concerns

Shares of HCL Technologies today ended over 4 per cent lower after the company said its dollar revenue for the January-March quarter will see an "adverse impact" of 2.8 per cent on strengthening of the greenback against global currencies.
After falling 4.55 per cent to Rs 935 on the BSE during the day, shares of HCL Tech finally ended at Rs 939.50, down 4.10 per cent on the BSE.
At the NSE, the stock fell by 3.77 per cent to settle at Rs 943.40.
On the volume front, 2.78 lakh shares of the company changed hands at the BSE and over 41 lakh shares were traded at the NSE during the day.

The company said its EBIT (operating earnings) is also expected to be negatively affected by 80 basis points.
During this quarter, the US dollar continued to strengthen against almost all global currencies, HCL Technologies had said in a statement yesterday.
"Since the company's revenues are derived in multiple currencies and significant costs are incurred in Indian rupee, the revenue and EBIT for the quarter to be reported in dollar, would have adverse impact of about 280 bps and about 80 bps, respectively," it added.