Brokerages bullish on HCLTech despite weak FY25 guidance; stock falls 6%

IT company HCL Technologies (HCLTech) plunged as much as 6.10 per cent to Rs 1,382.45 apiece, after it reported a muted quarter-ending March results (Q4FY24), coupled with weak financial year 2025 (FY25) guidance.

At 10:00 AM, the stock was the top loser on 30-share Sensex. By comparison, S&P BSE Sensex was up 0.37 per cent at 74,002.66 levels.

Analysts attributed the lacklustre performance to seasonal fluctuations in HCL Software, which experienced an 18.5 per cent quarter-on-quarter (Q-o-Q) decline in constant currency (CC) revenue, along with weakness in the Engineering and R&D Strategy, Services & Solutions (ERS) segment.

Trims guidance