HCL Tech dips 13%; mcap down by Rs 17,449 crore on revenue worries


Mumbai: Shares of IT services firm HCL Technologies on Thursday fell by nearly 13 percent, wiping out Rs 17,449 crore from its market valuation, after the company said it expects revenues for the September quarter to be “tepid”.

Consequently, shares of the company tumbled 12.65 percent to settle at Rs 857.90 on BSE. During the day, it plunged 14.75 percent to Rs 837.20, its biggest fall in many years.

The stock had lost 15 percent on January 7, 2009.

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