HCLTECH

HCL Tech operates across digital, engineering (ER&D), cloud, infrastructure services, and software/IP. This gives them exposure to both legacy IT services and high-growth domains. They appear to be pushing into advanced AI solutions: in Q2 FY26, they reported $100 million of “Advanced AI” revenue. In their FY25 annual report, they say they are prioritizing capital allocation into cloud, GenAI, engineering, telecom, cybersecurity, etc. They continue to pay a strong dividend: in Q2 FY26, they declared an interim dividend of ₹ 12/share. According to their FY25 report, they have a disciplined capital allocation strategy, with a high payout ratio (payout in FY24 & FY25 were 89.6% and 93.5% respectively). This makes HCL Tech attractive not just for growth, but also for dividend-focused or total return investors.