HCL set to replace Wipro as No. 3 IT firm

HCL Technologies Ltd is set to surpass Wipro Ltd to become India’s third largest IT firm in the outsourcing industry in six years. HCL expects its dollar revenue to grow by as much as 12.5% in the current fiscal, implying it will race past Wipro. HCL Technologies reported 2.5% sequential dollar revenue growth to $2.038 billion in revenue, a mere $24 million less than Wipro’s $2.062 billion. HCL Technologies’s rise has come on the back of years of underperformance by Wipro.