HCL Tech shares drop 6pc post Q4 results

Shares of HCL Technologies plunged about 6pc intraday on bourses, on Friday despite the company posting strong results.

The shares plunged 5.61pc to hit its share price at intraday low of Rs.1,072.80 on the NSE after the IT major on Thursday posted 14.3pc rise in consolidated net profit at Rs.2,550-crore for the fourth  quarter FY19. The Company also reported 21.3pc growth in revenue to Rs.15,990-cr in the quarter under review v/s Rs.13,178-cr in the year-ago period.

However, HCL Tech stock was the worst hit among the leading companies on both Sensex and Nifty during morning trade.

At 2.22pm, shares of HCL Technologies were trading at Rs.1087.60 down by Rs.49 or 4.11% from its previous closing of Rs.1,136 on the NSE. In comparison, Nifty50 traded at 11314-level up12-points and the Sensex at 37635.63 up 76-points.

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