HCLTech stock up 4.7% after Q2 results, lifts FY27 guidance
Business
HCLTech's stock shot up 4.7% after the company posted solid Q2 results and raised its FY27 constant-currency revenue growth guidance to 2.5% to 4%.
The upbeat numbers got investors excited, and the good vibes spilled over to other big IT names: TCS climbed 4.5%, while Infosys, Tech Mahindra, and others also saw gains.
Brokerages revise HCLTech calls
After the results, brokerages quickly updated their calls.
Jefferies bumped HCLTech up to "hold" with a new target of ₹1,150.
Nomura stuck with "buy" but lifted its target to ₹1,330, citing confidence in HCLTech's AI strategy.
Citi raised its earnings forecast but kept a "sell" rating, saying HCLTech still trades at a steep premium compared to TCS or Infosys.