HCL Technologies share price: Shares of IT major HCL Technologies gained over a per cent in early trade on Tuesday, after it reported decent Q2 results.
HCL Tech shares rose as much as 2,67% to ₹1,534.65 apiece on the BSE.
The third-largest IT services company in India, HCL Technologies, reported a net profit of ₹4,236 crore in the second quarter of FY26, registering a growth of 10.2% from ₹3,843 crore in the previous quarter.
The company’s revenue in Q2FY26 increased 5.2% to ₹31,942 crore from ₹30,349 crore, quarter-on-quarter (QoQ). Revenue in US dollar terms rose 2.8% to $3,644 million from $3,545 million, QoQ, while CC revenue growth was recorded at 2.4%.
At the operational level, EBIT grew 11.3% to 5,503 crore, while EBIT margin improved by 95 bps QoQ to 17.25%.
For FY26, HCL Technologies maintained revenue growth guidance at 3-5% YoY in CC (while for Services, guidance was upgraded to 4-5% from 3-5%). EBIT margin guidance was maintained at 17.0-18.0%.
The IT major also announced an interim dividend of ₹12 per share.
Analysts have maintained a bullish view on HCL Technologies shares after the company’s all-around beat on revenue. Here’s what brokerages said on HCL Tech share price and HCL Tech Q2 results:
Should you buy, sell or hold HCL Tech shares after Q2 results?
Motilal Oswal Financial Services expects HCL Technologies to deliver a CAGR of 5.3% and 7.2% in USD revenue and INR PAT over FY25-27. The company remains the fastest-growing large-cap IT services firm, and the brokerage said it likes its all-weather portfolio.
Motilal Oswal reiterated its ‘Buy’ rating on HCL Technologies shares with a target price of ₹1,800 apiece, based on 24x June 2027E EPS.
HCL Technologies raised the lower band of its FY26 guidance for the Services business by 100 bps to 4%- 5% in constant currency (CC) terms, while maintaining its overall FY26 revenue growth guidance at 3%-5% in CC terms owing to softness in the Software business. The company also maintained its FY26 EBIT margin guidance at 17%-18%.
According to Antique Stock Broking, HCL Technologies reported strong, broad-based revenue growth and robust deal wins, despite an unchanged macroeconomic environment. The brokerage firm has marginally increased its EPS estimates but retained HCL Tech share price target of ₹1,775, and continues to maintain a ‘Buy’ rating on the stock.
HCL Technologies share price has gained 4% in one month and has fallen over 6% in three months. The largecap IT stock has risen 10% in six months, but has fallen over 20% on a year-to-date (YTD) basis. HCL Tech share price has rallied 52% in three years and jumped 71% in five years.
At 9:25 AM, HCL Tech share price was trading 1.61% higher at ₹1,518.80 apiece on the BSE.