HCL Technologies shares surged 7.68 per cent to ₹1,593.60 at 11.35 on the NSE on Wednesday, following its Q4 results announcement and optimistic FY26 guidance that outpaced industry peers.
Several financial institutions have maintained a positive outlook on the stock. JPMorgan upgraded HCLTech to “overweight” with a target price of ₹1,750, citing value in the stock, with its 4 per cent dividend yield and 6 per cent free cash flow yield. Nomura maintained a “buy” rating, with a target of ₹1,670, while Nuvama set a target of ₹1,700. Morgan Stanley kept an “equal-weight” stance, with a ₹1,600 target, and Citi remained “neutral” with a ₹1,510 price objective.
The company reported an 8.1 per cent year-on-year increase in consolidated net profit to ₹4,307 crore for the quarter ended March 2025, while revenue rose 6.1 per cent to ₹30,246 crore. For the full fiscal year 2024-25, HCLTech posted an 11 per cent jump in net profit to ₹17,390 crore on revenue of ₹1,17,055 crore, up 6.5 per cent from the previous year.
Despite global macroeconomic headwinds, HCLTech has projected 2-5 per cent growth in constant currency terms for FY26. The company secured new bookings worth $3 billion in Q4 and declared an interim dividend of ₹18 per equity share for FY26.
Published on April 23, 2025