HCLTech's weak Q4 results spark selloff in Indian IT stocks
Business
HCLTech's latest earnings didn't impress, and that sent shockwaves through India's IT stocks.
After the company posted lower-than-expected revenue and profit for the fourth quarter, its shares fell over 9%.
Big names like Infosys, TCS, and Tech Mahindra also saw their stock prices drop as investors reacted to the news.
HCLTech guides 1% to 4% growth
HCLTech is predicting slower growth ahead, just 1% to 4% for fiscal 2027, which is less than what analysts were hoping for.
The company pointed to clients delaying decisions and cutting back on spending.
Brokerages like Jefferies quickly downgraded HCLTech's rating.
Now, people are keeping a close eye on upcoming results from other tech giants to see if this is just an HCLTech problem or a bigger trend in the sector.