Blasé Capital TCS Vs/= HCL

Two of the biggest India IT firms, which are believed to be the bellwether stocks in the sector, announced similar financial results for the third quarter of this fiscal year. In both cases, while the revenues were up by a smaller percentage, the profits were down quite substantially. In both cases, the stocks heaved wildly. HCL Tech nosedived by nearly INR 60 during intraday trading yesterday, it recovered by INR 35 to close at INR 1664. On an overall basis, the share price was down 0.22 per cent. TCS was up 0.72 per cent, and closed at INR 3,263. Over the past five days, both the stocks have gyrated wildly.