HCL Tech Share Price: Jefferies has upgraded the rating on HCL Tech to a buy rating. Its target has been set at Rs 1850. The brokerage said that the company’s Q1 revenue was higher than expected. But the profit was less than expected. Q1 margins also saw a sharp decline. FY26 growth guidance raised to 3–5%
HCL Tech Share Price: HCL Tech’s results were weak in the first quarter but appeared close to estimates. The company’s profit fell by about 11 percent. Its dollar revenue and margins also saw pressure. But the lower range of revenue guidance for FY26 has been increased from 2% to 3%. The company has announced an interim dividend of Rs 12/share. Its record date has been fixed as July 18. The management said in its commentary that there has been no decrease in demand conditions in Q1. 2 big deals are expected in Q2. At the same time, brokerage firms have given mixed opinions on this stock. Two out of five brokerages are bullish on the stock.
Today, the stock was seen trading at Rs 1572.40, down 2.94 per cent or Rs 47.55 in the early market hours at 9.22 am.
BROKERAGES ON HCL TECH
JEFFERIES ON HCL TECH
Giving its opinion on HCL Tech, Jefferies said that the company’s Q1 revenue was higher than expected. But the profit was less than expected. There was also a sharp decline in Q1 margins. FY26 growth guidance raised to 3–5%. The highest margin guidance in TOP IT firms was reduced by 100 bps to 17–18%. Its EPS estimate has been reduced by 0–2%. The brokerage has upgraded its rating to a buy rating. Its target has been set at Rs 1850.
NOMURA ON HCL TECH
Nomura has given a buy opinion on HCL Tech. Its target has been set at Rs 1810. They say that FY26 growth guidance has been increased from 2–5% to 3–5%. Margin guidance cut for FY26 has surprised. Margins are expected to improve from FY27.
CLSA ON HCL TECH
CLSA said in its report on HCL Tech that margin guidance has been reduced by 100 bps to 17–18%. Margins are expected to improve to 18–19% in FY27. The brokerage has given an outperform rating on the stock. Its target has been set at Rs 1867.
NUVAMA ON HCL TECH
Nuama has reduced the rating on HCL Tech. The brokerage has downgraded the rating on it and given a hold rating. Its target has been set at Rs 1630. They say that the decline in margins is for a short time.
CITI ON HCL TECH
Citi has given a neutral call on the giant IT company. They say that a target of Rs 1650 can be seen in this. The brokerage said that there is no decline in demand. Along with this, there has been an improvement in the demand of BFSI and Tech.
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