HCL Tech stock playing catch up with peers after lagging for three months

Strong deal pipeline is keeping analysts bullish; 41 out of 45 have a 'buy' rating

After a period of consolidation, shares of India's fourth-largest IT company, HCL Technologies, are seeing renewed investor interest. Analysts say sustained deal momentum and attractive valuation make a case for the stock’s re-rating.

After lagging its four large peers in the past three months, HCL Technologies has emerged as the second-best performing IT stock in the past month, and is now less than 3 per cent away from its all-time high.

While a handful of countries have begun inoculating their citizens with recently approved vaccines, a large part of the western world (the US and Europe) continues to grapple with the second