NSE: HCLTECH | BSE: 532281

Mid-range Performer

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1239.50 18.20 (1.49%)

30.37% Fall from 52W High

4.9M NSE+BSE Volume

NSE 21 Jul, 2026 3:31 PM (IST)

336,358.8

Market Cap

High in industry

Beta 1Year

Very Low volatility

HCL Technologies Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HCLTECH, BSE:532281 HCL Technologies Ltd.

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HCL Technologies Ltd.

14 Jul 2026

1239.50

1.49%

Healthy deal TCV not yet reflected in revenue growth

Sell: HCL Technologies Ltd.

Recommendation Target

ICICI Securities Limited

HCLT reported healthy deal TCV—one of the highest Q1 deal TCVs and mega deal win in the early part of Jul’26. Management retained its guidance, despite a slightly better-than-expected top line and strong deal wins.

HCL Technologies has lost -26.54% in the last 6 Months

HCL Technologies Ltd.

14 Jul 2026

1239.50

1.49%

Growth Continues Despite Near Term Challenges

Accumulate: HCL Technologies Ltd.

Target

Deven Choksey

Our investment case rests on the strength of the core business and its ability to generate cash.

Number of FII/FPI investors decreased from 1322 to 1242 in Jun 2026 qtr

HCL Technologies Ltd.

13 Jul 2026

1239.50

1.49%

HCL Technologies Ltd – Q1FY27 Preview:

Accumulate: HCL Technologies Ltd.

Recommendation Target

Deven Choksey

We expect HCLT to report a weak Q1FY27 with USD revenue declining ~2.0% QoQ to ~USD 3,608 Mn (+1.8% YoY). Our estimates are below street consensus, which expects -0.6% to - 1.2% QoQ CC decline.

HCL Technologies has lost -26.54% in the last 6 Months

HCL Technologies Ltd.

13 Jul 2026

1239.50

1.49%

One eye on the future; near-term guidance maintained

Buy: HCL Technologies Ltd.

Target

Motilal Oswal

HCL Technologies (HCLT) reported 1QFY27 revenue of USD3.6b, which declined 0.5% QoQ CC, above our estimate of 1.4% QoQ CC decline. EBIT margin came in at 16.9%, in line with our estimate of 16.9%.

ICICI Securities Limited downgraded HCL Technologies Ltd. to Sell with a price target of 1060.0 on 14 Jul, 2026.

HCL Technologies Ltd.

30 Apr 2026

1239.50

1.49%

HCL TECHNOLOGIES LTD

Hold: HCL Technologies Ltd.

Target

Geojit BNP Paribas

HCLTech remains resilient in its core IT services despite a challenging macro environment, driven by strong cost takeout initiatives and productivity execution, with AI/GenAI embedded across most client engagements. However, near-term growth visibility is tempered by AI-driven disruption in traditional service lines, which management estimates could translate into a 23% portfolio-level revenue drag over time, alongside client-specific budget cutbacks in the US and reduced discretionary spending in the telecom sector. Geopolitical uncertainty and softness...

Number of FII/FPI investors decreased from 1322 to 1242 in Jun 2026 qtr

HCL Technologies Ltd.

22 Apr 2026, 12:00AM

1239.50

1.49%

HCL Technologies

Hold: HCL Technologies Ltd.

Target

ICICI Direct

delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. Q4FY26 & FY26 Performance: Revenues were at US$3,682 mn, -2.9% QoQ/ +5.3% YoY (in CC terms -3.3% QoQ/ +2.4% YoY). The services business revenue was down 0.1% QoQ / up 4.2% YoY CC. EBIT margin at 16.5%, was down ~202 bps QoQ, Services (IT & Business & ER&D services) margin at 16.2%, was down ~27 bps QoQ. PAT at 4,488 crore, -6.4% QoQ/ +4.2% YoY. For FY26, revenue was US$14,664 mn, +6% YoY (+3.9% YoY CC) with services business revenue up 4.8% YoY CC. EBIT...

HCL Technologies has lost -26.54% in the last 6 Months

HCL Technologies Ltd.

22 Apr 2026, 12:00AM

1239.50

1.49%

HCL Technologies: Q4FY26 Result Review

Hold: HCL Technologies Ltd.

Target

IDBI Capital

HCL Tech posted Q4FY26 revenue of USD 3.68bn, down 3.3% QoQ but up 2.4% YoY, due to telecom client discretionary spend cuts and discontinuation of two SAP programs. Services held relatively firm at -0.1% QoQ (+4.2% YoY), while Software fell sharply 28% QoQ on seasonality and delayed procurement. EBIT margin came in at 16.5% (17.7% ex restructuring). For full-year basis, revenue grew 3.9% in constant currency to USD 14.7bn with services growing 4.8% mainly driven by IT & Business (+3.7% YoY) and ER&D (9.8% YoY). The AI narrative remains a key differentiator; annualized Advanced AI revenue reached USD 620mn, AI Force deployed across 75...

HCL Technologies Ltd. has an average target of 1423.50 from 10 brokers.

HCL Technologies Ltd.

22 Apr 2026, 12:00AM

1239.50

1.49%

HCL Technologies (HCLT IN) Q4FY26 Result Update Q4 disappoints, cautious FY27 guidance amid headwinds Downgrade to REDUCE'

Sell: HCL Technologies Ltd.

Recommendation Target

Prabhudas Lilladhar

HCLT's Q4 performance was significantly below expectations, with revenue declining 3.3% QoQ CC versus our estimate of 2.0% and consensus of 1.6%. The miss was driven by weakness in the Services business, impacted by cancellation of discretionary programs in select telecom clients and termination of two SAP modernization engagements, which are expected to weigh on FY27E revenue by ~50 bps. Beyond these specific headwinds, subdued discretionary spending amid geopolitical uncertainty, the near-term deflationary impact of AI, and continued softness in the Software segment are likely to weigh on growth. Consequently, FY27E organic revenue...

HCL Technologies Ltd. is trading below its 100 day SMA of 1248.2

HCL Technologies Ltd.

22 Apr 2026, 12:00AM

1239.50

1.49%

HCL Technologies (SELL): FY27 growth indicated to be weaker than in FY26

Sell: HCL Technologies Ltd.

Recommendation Target

BOB Capital Markets Ltd.

HCLT explicitly states FY27 is weaker than FY26. Due to (1) geopolitics and (2) Gen AI deflation. FY27 acceleration narrative fails first test

HCL Technologies Ltd. is trading above its 50 day SMA of 1152.5

HCL Technologies Ltd.

22 Apr 2026, 12:00AM

1239.50

1.49%

Weak Q4 print, slow start to the year

Hold: HCL Technologies Ltd.

Target

ICICI Securities Limited

HCLT’s weak revenue guidance of 2.5% YoY CC (at the midpoint) vs. 3.9% YoY CC growth for FY26 is driven by Discretionary spend cuts in two telecom clients, budget cuts in one manufacturing and one retail client, AI-led deflation, weak exit run-rate and challenging macro.

ICICI Securities Limited downgraded HCL Technologies Ltd. to Sell with a price target of 1060.0 on 14 Jul, 2026.

Is HCL Technologies Ltd. worth buying?

1921 Votes:

Buy 84.96%

Sell 7.76%

Hold 7.29%

RESEARCH REPORTS

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