HCL Tech Stock

Virat Jagad, technical research analyst at Bonanza, flags that HCL Technologies and Zensar Technologies witnessed buying interest at their respective 100-month exponential moving averages on the chart

At 10:12 AM on Friday, the Nifty IT index was the top sectoral gainer, up 2.8%. Tech Mahindra, Wipro, Infosys and TCS surged up to 7% amid Q2 earnings cheer.

Tata Elxsi, Hero Motors, Anand Rathi Share and Stock Brokers, Den Networks, GTPL Hathway, PNB Gilts, ICICI Prudential Life Insurance will announce their quarterly earnings on October 13.

In the past four trading days, Nifty IT index outperformed the market by gaining 5.6% as against a 1.2% rise in the Nifty 50.

Stocks to watch today: HCL Technologies, ICICI Pru, RBL Bank, Plastiblends India are among the companies slated to post their Q2 results today.

IT shares: Analysts expect IT companies to witness moderate improvement in Q2FY27, as macro headwinds from the Middle East conflict continue to weigh on client spending and decision-making.

The weakness in IT stocks was followed by the US Federal Reserve's decision to hike the key lending rate by 0.25 basis points to 3.75-4 per cent.

IT stocks rallied on Friday after Nvidia's strong revenue forecast reinforced optimism around the artificial intelligence (AI) boom.

IT stocks in demand: Tata Consultancy Services (TCS), Tech Mahindra, LTM, HCL Technologies and Mphasis gain 3 per cent each in intra-day deals on Friday.

HCL Tech expects demand to remain resilient as the industry transitions from AI disrupted to AI-native services, driven by ongoing modernization imperatives and AI-led transformation.

However, despite recovery from lows, the Nifty IT index underperformed the market by falling 22 per cent, as against a 7.2 per cent decline in the Nifty 50 thus far in CY2026.

HCL Tech reported a 20.3 per cent increase in net profit for the first quarter to ₹4,624 crore on a year-on-year basis. Revenue for the quarter was up 13.9 per cent to ₹34,579 crore.

HCL Tech Q1 results expectation: HCL Technologies will post its Q1FY27 results on July 13 after market hours. The company's board will also consider second interim dividend.

At 09:38 AM on Friday, the Nifty IT index was the top gainer among sectoral indices, up 1.8 per cent, as compared to a 1 per cent rise in the Nifty 50.

This large-deal win reinforces HCL Tech's strong positioning in AI-led infrastructure and workplace transformation services, while significantly enhancing long-term revenue visibility, analysts say.

The Nifty IT currently quotes around 20 per cent below its 200-DMA. TCS, Infosys, Wipro and HCL Technologies are down in the range of 21-26 per cent form respective 200-DMAs.

As per data, the Nifty IT Index has corrected nearly 42 per cent from its all-time high of 46,089, recorded in December 2024, and is now trading close to its April 2023 lows.

HCL Tech is investing $150 million in Sarvam for a 10.46 per cent stake

Hitesh Rathi, technical analyst at Angel One says that IT stocks continue to trade with a negative bias on the charts, and are prone to further fall if they dip below the crucial support zones.

In 2026 so far, TCS, Infosys, HCL Tech, Tech Mahindra, and Wipro have declined in the range of 17 per cent to 33 per cent. In comparison, the Nifty 50 index has dived 10 per cent, data showed.