HCL Tech shares tumble 10%; market valuation erodes by ₹46,987 crore post earnings announcement
The Hindu
HCL Tech stock slumps 10% post disappointing earnings, biggest laggard among BSE Sensex and NSE Nifty firms.
Shares of IT company HCL Tech on Tuesday (January 14, 2025) slumped nearly 10% after the company's December quarter earnings failed to cheer investors.
The stock tanked 9.41% to ₹1,798.40 on the BSE.
At the NSE, it dropped 9.63% to ₹1,797.75.
The stock emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms.
Its market valuation eroded by ₹46,987.11 crore to ₹4,91,743.25 crore during the morning trade.
"HCLT's 3Q numbers and 4Q guidance were underwhelming," according to Motilal Oswal Research.
Other IT stock like Tech Mahindra, Infosys and Tata Consultancy Services were also trading lower.
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