HCL Tech shares gain 5% on strong revenue growth in June quarter

Shares of HCL Technologies gained 5 per cent to Rs 1,074 apiece on the BSE in the intra-day trade on Thursday after the company posted double-digit revenue growth in the first quarter of the financial year 2019-20 (Q1FY20). In constant currency (CC) terms, the company’s revenue grew 17 per cent year-on-year (YoY) and 7.7 per cent on sequential basis.

The information technology (IT) firm maintained its revenue guidance of 14-16 per cent in CC term and margin guidance of 18.5-19.5 per cent for the quarter under review, as it expects revenues flow from the IBM IP (intellectual property) deal from