Market capitalisation: Wipro within striking range of HCL Technologies

HCL is expected to maintain the lead through the fiscal and overtake the rival by a safe margin to become India's third-largest IT firm in 2018-19

HCL Technologies has overtaken Wipro in market capitalisation and is already at a striking distance to overtake it by the June quarter (Q1) of 2018-19, if not in the March quarter (Q4) of 2017-18.

At the end of the December quarter (Q3) 2017-18, the revenue gap between HCL and Wipro’s IT services business was just $25 million. In Q4, Wipro’s IT services revenues stood at $2,062 million, a growth of 2.6 per cent over Q3. HCL, which grew 3.1 per cent in its dollar revenue in Q3, is estimated to maintain at least the same level of growth, if not