HCL Technologies climbs over 9% on Q2 revenue forecast

NEW DELHI : Shares of HCL Technologies Ltd climbed more than 9% in early trade on Monday after the IT services major said that it expects Q2 revenue and operating margin to be “meaningfully better” than the previous forecast.

The stock rose 9.28% to Rs789.35 on the BSE and 8.61% to Rs783.85 on the NSE.

The Noida-based company expects its revenue growth in constant currency terms to exceed 3.5% quarter-on-quarter (q-o-q) for the July-September 2020 period. In July, the company had forecasted its revenue to increase q-o-q by an average of 1.5-2.5% in constant currency for the next three quarters.