Brokerages positive on HCL Tech as co ups FY23 revenue outlook; stock up 4%

The company raised its full-year revenue growth guidance to 13.5-14.5 per cent, from 12-14 per cent on a constant currency (CC) basis, citing strong order bookings and pipeline.

Shares of HCL Technologies gained 4 per cent at Rs 987.75 on the BSE in Thursday’s intra-day trade after the information technology (IT) services major on Wednesday raised its full-year revenue growth guidance to 13.5-14.5 per cent, from 12-14 per cent on a constant currency (CC) basis, citing strong order bookings and pipeline. The services revenue is expected to grow 16–17 per cent YoY in FY23, according to the company’s guidance.

At 09:16 AM, the stock traded 2.5 per cent higher at Rs 975, as compared to 0.14 per cent decline in the S&P BSE Sensex. The