Prominent IT companies - HCL Technologies, Tech Mahindra and Persistent Systems reported mixed Q2 results in the last two days.
IT major
HCL Technologies reported a flat growth in consolidated net profit of ₹4,235 crore for Q2FY26 when compared with Q2FY25. The company's revenue from operations however grew by 10.7 per cent year-on-year (YoY) to ₹31,942 crore in the quarter ended September 2025 as against ₹28,862 crore a year ago.
Tech Mahindra posted a
4.4 per cent YoY decline in Q2 net profit at ₹1,194.50 crore; while its revenue increased by 5.1 per cent to ₹13,994.90 crore. Whereas, Persistent Systems net surged
45.1 per cent YoY to ₹471.50 crore, backed by a 23.6 per cent jump in revenue to ₹3,580.70 crore.
In Wednesday's trading session thus far, Persistent Systems has soared nearly 6 per cent; while HCL Technologies and Tech Mahindra trade with marginal losses.
ALSO READ | Strong Q2 performance, services guidance upgrade positive for HCLTech Meanwhile, here's what the technical charts suggest for these three IT stocks.
HCL Technologies
Current Price: ₹1,499
Likely Target: ₹1,597 / ₹1,297
Upside Potential: 6.5%
Downside Risk: 13.5%
Support: ₹1,430; ₹1,390
Resistance: ₹1,550; ₹1,567
HCL Technologies stock has been trading below its 100-Day Moving Average, post the breakdown on July 15. At present, the stock is seen within reach of the 100-DMA, which stands at ₹1,550. In case the stock nudges past this, the next key hurdle for the stock stands at ₹1,597 - its 200-DMA.
For the overall trend to turn favourable, HCL Tech stock will need to log a weekly close above ₹1,567 levels. Till such time, upside rallies for the stock may face selling pressure, and the stock may eventually slide towards the 200-Week Moving Average, which stands at ₹1,297 levels - implying a downside risk of 13.5 per cent from here. Interim support for the stock can be anticipated around ₹1,430 and ₹1,390 levels.
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Current Price: ₹1,447
Likely Target: ₹1,616 / ₹1,263
Upside Potential: 11.7%
Downside Risk: 12.7%
Support: ₹1,425
Resistance: ₹1,517; ₹1,538
Tech Mahindra share price is seen trading around its short-term moving averages on the daily scale, with key momentum oscillators favourably placed. Hence, the stock may spurt towards ₹1,517 - ₹1,538 levels in the near-term. The upside for the stock seems capped around ₹1,616 levels for now.
On the downside, the stock has been consistently finding support around its 100-Week Moving Average, which stands at 1,425 levels; below which a dip to ₹1,263 seems likely.
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Current Price: ₹5,667 / ₹5,250
Likely Target: ₹6,400
Upside Potential: 13%
Downside Risk: 7.4%
Support: ₹5,538; ₹5,482; ₹5,250
Resistance: ₹5,885; ₹6,050; ₹6,280
Persistent Systems stock is seen trading above its long-term 200-DMA after a gap of nearly three months. The 200-DMA stands at ₹5,538, below which the 100-DMA exists at ₹5,482. The near-term bias is likely to be cautiously optimistic as long as the stock holds above ₹5,250 levels.
On the upside, the stock faces a major challenge around ₹5,885 levels - wherein stands the weekly super trend line hurdle. The stock has been languishing below the same since late February 2025.
Breakout and sustained trade above the same can potentially trigger a rally towards ₹6,400 levels, with interim resistance visible at ₹6,050 and ₹6,280 levels.
 "HCL Tech vs TechM vs Persistent: Which IT stock to bet on post Q2 results?")
