HCL Tech scrip hits 52-week high on strong Q1 numbers
Mumbai: HCL Technologies scrip on Wednesday gained nearly 4 percent to hit one year high after the IT firm posted 78.1 percent jump in net profit for the quarter ended September 30.
After opening the trade on a strong note, shares of the company further jumped 3.67 percent to a 52-week high of Rs 605.75 on the BSE.
Similarly on the NSE, the scrip rose by 3.83 percent to a 52-week high of Rs 584.50.
"HCL Tech yet again reported strong set of results. HCL Tech, with end-to-end IT capabilities and a strong client mining ability, is clearly emerging as a front runner and outperforming many of its peers companies," Angel Broking Research Analyst (IT) Ankita Somani said.
HCL this morning posted 78.1 percent jump in net profit at Rs 884.8 crore for the first quarter ended September 30.
The company's net profit stood at Rs 496.7 crore in the July-September quarter of 2011.
HCL follows July-June fiscal year.
Meanwhile, in the broader market, the BSE 30-stock index, Sensex, was trading at 18,611.80, up 34.10 points.