HCL Technologies shares slip 4.5% to ₹1,166.7 after Q1 results
Business
HCL Technologies's shares slipped 4.5% on Tuesday to ₹1,166.7 after its Q1 results led major foreign brokerages to cut their price targets.
The whole IT sector felt the chill too, with the Nifty IT index down 1%.
Still, many domestic brokers remain optimistic about the stock.
HCL Tech downgraded, domestic buys rise
Big global brokerages like HSBC and Morgan Stanley lowered their outlook for HCL Tech, but Indian analysts aren't losing faith: Bloomberg data shows more "Buy" calls now than earlier this month.
The general view: domestic broker optimism means HCL is still worth watching.