HCL Tech, Wipro shares surge on earnings optimism
MUMBAI (Reuters) - HCL Technologies Ltd(HCLT.NS) shares rose as much as 7 percent to a 12-year high on Thursday after its October-December earnings beat estimates, while Wipro Ltd (WIPR.NS) gained as much as 3.5 percent ahead of its quarterly results on Friday.
HCL Technologies Ltd shares were up 6.4 percent as of 0446 GMT after earlier hitting its highest intraday level since February 2000. India's fourth-largest software services provider on Thursday beat estimates with a 68.4 percent jump in quarterly profit.
Wipro Ltd, which is due to report earnings on Friday, was up 3.4 percent. Earlier in the day, UBS upgraded Wipro to "buy" from "sell", saying revenue momentum will start picking up from the October-December quarter.
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
Trending On Reuters
Prime Minister Narendra Modi has asked for a drastic cutback of an ambitious health care plan after cost estimates came in at $18.5 billion over five years, several government sources said, delaying a promise made in his election manifesto. Full Article