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HCL Tech biggest index loser after management indicates lower growth in FY23

The company’s management said December quarter will see higher-than-expected furloughs

December 09, 2022 / 10:06 AM IST
 
 
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Share price of IT firm HCL Technologies opened 4 percent lower on December 9 after the management indicated that FY23 revenue growth will be at the lower end of earlier guidance.

At its investor day held on December 8 in New York, the company said revenue growth in constant currency terms is seen at lower end of 13.5-14.5 percent YoY band.

The stock which is the biggest index loser was quoting at Rs 1043.20, lower by 5.27 percent on the National Stock Exchange at 9:30 am. Trading volumes at 3.1 million shares were higher than 20-day average volume of 2.6 million shares.

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