HCL Technologies gains 3% in a weak market post stellar Q4 results

HCL Tech has guided for revenue growth of 12-14 per cent CC in FY23 on the back of continued traction in the services business, healthy deal intake and deal pipeline.

Shares of HCL Technologies were up 3 per cent to Rs 1,135 on the BSE in Friday’s intra-day trade in an otherwise weak market. The rally comes after the IT major delivered revenue growth of 1.1 per cent quarter-on-quarter (QoQ) in constant currency terms in March quarter (Q4FY22), with a strong growth in services, which was up 5 per cent QoQ in CC terms. Meanwhile, earnings before interest and tax margin (EBITM) declined by 110 basis points to 17.9 per cent.

The stock rebounded 5 per cent from its intra-day low of Rs 1,083.55 on the BSE. At 09:43