India's HCL Tech, Wipro shares surge on earnings optimism
MUMBAI Jan 17 (Reuters) - India's HCL Technologies Ltd shares rose as much as 7 percent to a 12-year high on Thursday after its October-December earnings beat estimates, while Wipro Ltd 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)
- Tweet this
- Share this
- Digg this
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article