HCL Tech rallies 7%, hits record high after mid-quarter business update

The IT major further said the Ebit margin for the current quarter is expected to be between 20.5-21 per cent

Shares of HCL Technologies rallied 7 per cent to hit a record high of Rs 768.90 on the BSE on Monday after the company said it expects the revenue and the operating margin for the July-September quarter (Q2FY21) to be meaningfully better than the top end of the guidance it had provided in July’2020. The stock surpassed its previous high of Rs 738.80, touched on September 8, 2020.

"We have seen strong execution during the quarter to date, and continue to execute to the plan this month. The Revenue growth for the current quarter is expected to exceed 3.5