HCL Tech shares settle a tad lower after early gains

Shares of HCL Technologies today saw all its initial gains evaporate on emergence of profit- booking and ended marginally lower, while the company posted a 6.1 per cent rise in its June quarter consolidated net profit.
The stock which surged 3.87 per cent to Rs 926 -- its 52 -week high level -- in intra-day trade on BSE later, gave up all the gains and ended 0.21 per cent lower at Rs 889.60.
On NSE, shares of the company dipped 0.27 per cent to close at Rs 890.25.
In terms of volume, 3.85 lakh shares of the company were traded on BSE and over 46 lakh shares changed hands at NSE during the day.

India's fourth largest software exporter HCL Technologies today posted a 6.1 per cent rise in consolidated net profit at Rs 2,171 crore for the April-June quarter, helped by broad- based growth across verticals like financial services and healthcare.
The company had a net profit of Rs 2,047 crore in the year-ago period.

HCL Tech's consolidated revenue grew 7.2 per cent to Rs 12,149 crore in April-June 2017 as against Rs 11,336 crore in the same quarter of 2016-17.
The company also maintained its revenue growth guidance of between 10.5-12.5 per cent in constant currency terms.
However, HCL Technologies' net profit declined 6.6 per cent on a sequential basis on account of a tax provision of USD 45.5 million paid during March 2017 quarter.