TIL Desk/Business/Bengaluru/ HCL Technologies’ market capitalisation (market-cap) touched Rs 3 trillion for the first time on Friday, becoming the fourth Indian information technology (IT) firm to achieve this milestone after Tata Consultancy Services (TCS), Infosys and Wipro.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deal. At 11:03 am, with a Rs 3.03 trillion market-cap, HCL Tech stood at 13th position in the overall market-cap ranking. Wipro, with the market-cap of Rs 3.33 trillion, stood on 14th slot, BSE data shows.
In the past one month, the stock of HCL Tech has outperformed the market by gaining 15 per cent as the management reiterated its double-digit dollar revenue growth guidance and EBIT (earnings before interest tax) margin band of 19-21 per cent for the financial year 2021-22 (FY22). In comparison, the S&P BSE Sensex was up 4.6 per cent during the same period. While, in three months, the stock has rallied 23 per cent as against a 13.3 per cent gain in the benchmark index.
