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Robust H2 FY'13 Growth Hopes Help HCL Tech Buck Negative Trend On Bourses

Shares of India's fourth largest software exporter HCL Technologies witnessed smart rally on bourses today even as other IT titans were sinking with the negative trend in benchmark indices.

The stock jumped to its 12-year high on the Bombay Stock Exchange on Thursday at Rs 632.30, helped by the hopes that software services exporter was well placed to bag major deals in the infrastructure sector and continue its bottomline growth in the second half of current fiscal.

Unlike other IT firms, HCL Technologies posted a 78 per cent growth in Jul-Sep quarter net profit, year-on-year.

In contrast to the rally in HCL Tech, the index of 30 most valued shares on Bombay Stock Exchange (NYSE:BSE), Sensex was down nearly 1 per cent amid weak global cues.

Also, the BSE IT index ended lower by 1.89 per cent today as top three software exporters of India-TCS, Infosys and Wipro-tanked 2-3 per cent.

HCL Tech