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HCL Tech shares gain on better earnings

Reuters

MUMBAI (Reuters) - Shares in HCL Technologies rise after the company reported a better-than-expected net profit for January-March quarter on the back of increasing demand for outsourcing services. The Indian IT services exporter beat market expectations with a 59 percent rise in consolidated net profit in the January-March quarter to 16.24 billion rupees ($269.07 million) from 10.2 billion rupees in the same period a year earlier. HCL Technologies shares were trading up 1.2 percent at 9:20 a.m. ($1 = 60.3550 rupees) (Reporting by Indulal PM; Editing by Sunil Nair)