Mukul Garg of Societe Generale told CNBC-TV18, "HCL Technologies did decently well last quarter. The impact which happened was primarily on the margin side where the company actually went out and invested. This stock did react in a near term but recovered most of it."
He further added, "HCL Tech is our top pick in Indian IT services pack. Earlier most of the growth was coming out from infrastructure outsourcing from the IMS services, now that segment continues to remain decently strong. The company over last couple of quarters have started investing a lot of engineering and research and development (R&D) outsourcing. That is a big pie which is out there which everyone is trying to grab but it is not too much which is coming to India till now."
At 13:11 hrs HCL Technologies was quoting at Rs 942.75, up Rs 21.70, or 2.36 percent. It has touched an intraday high of Rs 946.90 and an intraday low of Rs 919.
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