HCL Tech, Wipro shares surge on earnings optimism

MUMBAI Thu Jan 17, 2013 10:23am IST

Employees walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

Employees walk in the Wipro campus in Bangalore June 23, 2009.

Credit: Reuters/Punit Paranjpe/Files

Related Topics

Stocks

   

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)

FILED UNDER:

Reuters Showcase

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Uber's Woes

Uber's Woes

Uber, other taxi-hailing apps hit new roadblock in Delhi.  Full Article 

Transfer Pricing

Transfer Pricing

India's Vodafone decision eases tax worries for Shell, others.  Full Article 

Renewable Energy

Renewable Energy

NTPC bars foreign bids for three solar projects  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage