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India's HCL Tech, Wipro shares surge on earnings optimism

Source : REUTERS
Last Updated: Thu, Jan 17, 2013 06:29 hrs
Commuters walk past the BSE building in Mumbai

India's HCL Technologies Ltd shares rose as much as 7 percent to a 12-year high on Thursday after its October-December earnings beat estimates, while Wipro Ltd gained as much as 3.5 percent ahead of its quarterly results on Friday.

HCL Technologies Ltd shares were up 6.4 percent as of 0446 GMT after earlier hitting its highest intraday level since February 2000. India's fourth-largest software services provider on Thursday beat estimates with a 68.4 percent jump in quarterly profit.

Wipro Ltd, which is due to report earnings on Friday, was up 3.4 percent. Earlier in the day, UBS upgraded Wipro to "buy" from "sell", saying revenue momentum will start picking up from the October-December quarter.




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