HCL Technologies Ltd. SHARES JUMP 4 PERCENT

HCL Technologies shares jumped 4 percent in early trade on Tuesday, emerging as the top gainer on the Nifty 50 after the IT services major reported strong second-quarter earnings, robust artificial intelligence revenue growth and significant deal wins. The company also raised the lower end of its FY27 revenue growth guidance. However, brokerages remained divided on the stock’s potential upside. HCLTech shares climbed to Rs 1,272 from Monday’s closing price of Rs 1,223. Despite the rally, the stock has declined 22.2 percent so far in 2026, underperforming the Nifty 50, which has fallen 14.2 percent over the same period. The company’s market capitalisation stood at Rs 3.45 lakh crore. On Monday, HCLTech reported a consolidated net profit of Rs 5,132 crore for the September quarter, marking a 21.2 percent year-on-year increase. Revenue grew 11.5 percent to Rs 35,620 crore, while operating margin expanded 131 basis points sequentially to 18.2 percent. Among brokerages, HSBC maintained its ‘Hold’ rating on HCLTech with a target price of Rs 1,225, citing uncertainty over the sustainability of the demand recovery and concerns about the stock’s premium valuation. CLSA also retained its ‘Hold’ rating, with a target price of Rs 1,094, despite acknowledging the company’s strong deal wins and growth opportunities driven by AI.