HCL Technologies shares jump over 9% over optimistic Q2 results

Shares of IT services major HCL Technologies zoomed over 9 per cent in early trade on Monday after the company said its revenue and operating margin for the September quarter is expected to be “meaningfully better” than the top end of its previous forecast.

The stock jumped 9.28 per cent to Rs 789.35 on the BSE.

At the NSE, it zoomed 8.61 per cent to Rs 783.85 — its one year high.

The company expects its revenue growth in constant currency terms to exceed 3.5 per cent quarter-on-quarter (q-o-q) for the July-September 2020 period, according to a regulatory filing.

Providing a mid-quarter update, HCL Technologies said it expects its revenue and operating margin for the current quarter to be meaningfully better than the top end of its guidance given in July.