# HCLTECH (HCLTECH) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/hcltech

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹1,326
- Change: +8.42%
- As of: 2026-10-13
- 1D return: +8.42%
- 5D return: +10.10%
- 1M return: +9.94%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-10-13_

### Technical Outlook

As of October 13, 2026, HCLTECH presents a mixed technical picture with a bullish short-term trend on the daily chart contrasting with a bearish monthly trend. The daily timeframe shows price trading above key moving averages (20-day EMA, 50-day EMA, 20-day SMA, 50-day SMA) and the Supertrend, indicating upward momentum. However, the daily trend conviction is weak, with an ADX of 16.69. The weekly chart also shows a bullish Supertrend, but price is below the 50-period EMAs and SMAs, suggesting a developing trend. The monthly timeframe exhibits a strong bearish trend (ADX 40.09) with price below all monitored moving averages and the Supertrend. Recent activity includes an extreme upward volume anomaly on October 13, 2026, with an 8.4% return on a daily basis, accompanied by an unusual weekly price move of 2.64 standard deviations. The stock is positioned near the upper end of its 20-day range (+100.0%) but in the lower-middle of its 252-day range (+39.5%).

Risk is characterized by annualized volatility of +29.2% and a current drawdown of -33.5%. The nearest support is at ₹1,287.41 (2.91% below the current price), with further support at ₹1,268.67. Resistance is faced at ₹1,481.74 (11.75% above the current price) and ₹1,509.70. Confirmation of the daily bullish setup would involve sustained price action above ₹1,481.74, while a break below ₹1,287.41 could signal a continuation of the broader monthly downtrend.

- Daily chart shows a bullish setup above key averages, but monthly trend remains bearish.
- Daily trend conviction is weak (ADX 16.69), while monthly trend conviction is strong (ADX 40.09).
- Annualized volatility is +29.2% with a current drawdown of -33.5%.
- Nearest support is at ₹1,287.41 (2.91% below current price) and nearest resistance is at ₹1,481.74 (11.75% above current price).
- Confirmation of the daily setup requires holding above ₹1,287.41; invalidation would be a sustained move below this level.

- Bullish Engulfing Reversal
- Doji
- Evening Star
- Morning Star
- Outside Bar
- Shooting Star

### News Context

HCLTech reported its Q2 results for the 2026-27 fiscal year, with consolidated revenue increasing by 11.5% to ₹35,620 crore and net profit rising by 21.2% to ₹5,132 crore. Despite these increases, the company's overall growth rate for the quarter slowed to a three-year low. However, the company's advanced AI revenue saw a significant sequential jump of 28%, reaching $219 million, and net profit for the same period increased by 10.25% to $538 million. Following the results, HCLTech's share price saw an increase, with reports noting that margin performance and deal wins helped offset weakness in its software segment. Analysts from JPMorgan, Jefferies, and Citi have provided price targets suggesting limited upside potential.

- On October 12, 2026, HCLTech reported Q2 FY27 consolidated revenue of ₹35,620 crore (+11.5% year-on-year) and net profit of ₹5,132 crore (+21.2% year-on-year).
- Advanced AI revenue for HCLTech grew 28% sequentially to $219 million in Q2 FY27.
- HCLTech's net profit for the same period increased by 10.25% to $538 million.
- On October 13, 2026, HCLTech's stock jumped, with market reports attributing the rise to margin beats and deal wins, which compensated for software segment weakness.
- External analysts from JPMorgan, Jefferies, and Citi have indicated limited upside potential for HCLTech's share price, as reported on October 13, 2026.

- [TCS vs HCL Tech: How 2 IT giants stack up in the AI race after Q2 results](https://www.businesstoday.in/markets/stocks/story/tcs-vs-hcl-tech-how-2-it-giants-stack-up-in-the-ai-race-after-q2-results-561285-2026-10-13)
- [HCLTech jumps as margin beat, deal wins outweigh software weakness](https://www.thehindubusinessline.com/markets/hcltech-jumps-as-margin-beat-deal-wins-outweigh-software-weakness/article71577962.ece)
- [HCL Tech share price: Targets suggest limited upside; what JPMorgan, Jefferies, Citi say](https://www.businesstoday.in/markets/stocks/story/hcl-tech-share-price-targets-suggest-limited-upside-what-jpmorgan-jefferies-citi-say-561157-2026-10-13)
- [HCLTech beats estimates, but Q2 growth slips to three-year low | Company Business News](https://www.livemint.com/companies/hcl-technologies-q2-results-202627-11791813143191.html)
- [HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2% | Company Business News](https://www.livemint.com/companies/company-results/hcltech-q2-results-202627-11791811434426.html)

### What Changed

HCL Technologies reported its financial results for the quarter and half-year ended September 30, 2026, on October 12, 2026. The company announced consolidated revenue of ₹35,620 crore, an increase of 3.0% quarter-over-quarter and 11.5% year-over-year. Net income for the period was ₹5,132 crore, up 11.0% quarter-over-quarter and 21.2% year-over-year. Advanced AI revenue reached $219 million, and new deal bookings were $3,258 million. The company's EBIT margin expanded by 131 basis points quarter-over-quarter to 18.2%. HCL Technologies also declared an interim dividend of ₹12 per equity share for the Financial Year 2026-27, with a record date of October 16, 2026. In parallel, the company announced a Global Premier Partnership with Anthropic on October 12, 2026, to scale governed Agentic AI across global enterprises, including the establishment of a dedicated Anthropic Business Unit and Centre of Excellence. The stock price saw an increase from ₹1223.0 to ₹1326.0 between the previous observation date and October 13, 2026.

- On October 12, 2026, HCL Technologies reported Q2 FY27 revenue of ₹35,620 crore (up 11.5% year-over-year) and net income of ₹5,132 crore (up 21.2% year-over-year).
- The company announced a Global Premier Partnership with Anthropic on October 12, 2026, to focus on Agentic AI solutions.
- An interim dividend of ₹12 per equity share was declared on October 12, 2026, for FY26-27.
- The stock price increased to ₹1326.0 as of October 13, 2026, from ₹1223.0 previously.

- [TCS vs HCL Tech: How 2 IT giants stack up in the AI race after Q2 results](https://www.businesstoday.in/markets/stocks/story/tcs-vs-hcl-tech-how-2-it-giants-stack-up-in-the-ai-race-after-q2-results-561285-2026-10-13)
- [HCLTech jumps as margin beat, deal wins outweigh software weakness](https://www.thehindubusinessline.com/markets/hcltech-jumps-as-margin-beat-deal-wins-outweigh-software-weakness/article71577962.ece)
- [HCL Tech share price: Targets suggest limited upside; what JPMorgan, Jefferies, Citi say](https://www.businesstoday.in/markets/stocks/story/hcl-tech-share-price-targets-suggest-limited-upside-what-jpmorgan-jefferies-citi-say-561157-2026-10-13)
- [HCLTech beats estimates, but Q2 growth slips to three-year low | Company Business News](https://www.livemint.com/companies/hcl-technologies-q2-results-202627-11791813143191.html)
- [HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2% | Company Business News](https://www.livemint.com/companies/company-results/hcltech-q2-results-202627-11791811434426.html)
- [HCL Technologies Limited has informed the Exchange regarding Release "HCLTech and Anthropic sign Global Premier Partnership to scale governed Agentic AI across global enterprises". |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026160157_Release12October2026.pdf)
- [HCL Technologies Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026165747_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange that Board of Directors at its meeting held on October 12, 2026, declared Interim Dividend of Rs. 12 per equity share. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170051_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange regarding a press release dated October 12, 2026, titled "Investor Release Q2 FY 2027". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf)
- [HCL Technologies Limited has informed the Exchange about Consolidated Financial Statements IFRS for three and six months period ended September 30, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026171640_IFRS_Financials_3.pdf)

### Official Filings

HCL Technologies Limited announced several significant developments on October 12, 2026. The company entered into a Global Premier Partnership with Anthropic on October 12, 2026, aimed at scaling governed Agentic AI for global enterprises. This collaboration involves HCLTech establishing a dedicated Anthropic Business Unit and Centre of Excellence to build solutions using Anthropic's AI models, with plans to embed these capabilities into HCLSoftware products. Additionally, the company reported its financial results for the quarter and half-year ended September 30, 2026. For Q2 FY27, HCL Technologies reported revenue of ₹35,620 crore, an increase of 3.0% quarter-over-quarter and 11.5% year-over-year. Net income for the quarter was ₹5,132 crore, up 11.0% quarter-over-quarter and 21.2% year-over-year. The company also declared an interim dividend of ₹12 per equity share for the Financial Year 2026-27, with a record date of October 16, 2026, and payment scheduled for October 26, 2026. In a separate development, HCLTech launched 20 Industry AI Solutions (IAIS) on October 8, 2026, designed to transform various industry value chains, with some solutions already showing significant improvements in operational efficiency and time-to-market for early adopters.

- On October 12, 2026, HCL Technologies announced a Global Premier Partnership with Anthropic to advance enterprise adoption of Agentic AI.
- For the quarter ended September 30, 2026, HCL Technologies reported revenue of ₹35,620 crore and net income of ₹5,132 crore.
- An interim dividend of ₹12 per equity share was declared for FY 2026-27, with a record date of October 16, 2026.
- On October 8, 2026, HCL Technologies launched 20 Industry AI Solutions (IAIS) targeting various sectors.
- The company provided FY27 constant-currency revenue growth guidance of 2.5%–4.0% and an EBIT margin target of 17.5%–18.5%.

- [HCL Technologies Limited has informed the Exchange regarding Release "HCLTech and Anthropic sign Global Premier Partnership to scale governed Agentic AI across global enterprises". |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026160157_Release12October2026.pdf)
- [HCL Technologies Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026165747_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange that Board of Directors at its meeting held on October 12, 2026, declared Interim Dividend of Rs. 12 per equity share. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170051_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange regarding a press release dated October 12, 2026, titled "Investor Release Q2 FY 2027". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf)
- [HCL Technologies Limited has informed the Exchange about Consolidated Financial Statements IFRS for three and six months period ended September 30, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026171640_IFRS_Financials_3.pdf)
- [HCL Technologies Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Oct-2026. |SUBJECT: Record Date](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026172145_FinancialResults_6.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1736452_12102026073824_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1736455_12102026074754_WEB.xml)
- [HCL Technologies Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026230058_Audio_Conference_Call.pdf)
- [HCL Technologies Limited has informed the Exchange regarding Release "HCLTech introduces 20 Industry AI Solutions to transform vertical value chains with AI". |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_08102026115718_Release8October2026.pdf)

### Fundamentals

HCL Technologies reported sequential growth in its latest financial results. Revenue from operations increased to ₹34,579 crore in Q1 FY2026-27 from ₹31,942 crore in the prior year's comparable period (Mar 2026), and further to ₹35,620 crore in Q2 FY2026-27. Net profit also saw a sequential increase, rising to ₹4,626 crore in Q1 FY2026-27 and ₹5,132 crore in Q2 FY2026-27. This growth in net profit outpaced the revenue increase on a sequential basis, suggesting improved profit conversion. The company's balance sheet shows an increase in total assets to ₹1,20,422 crore as of September 30, 2026, from ₹1,08,573 crore as of September 30, 2025, with a corresponding rise in equity to ₹76,126 crore from ₹71,271 crore. The most important checkpoint for the next reporting period will be the sustainability of this profit growth and its conversion from revenue.

- Revenue from operations increased sequentially to ₹35,620 crore in Q2 FY2026-27.
- Net profit showed stronger sequential growth, rising to ₹5,132 crore in Q2 FY2026-27.
- Total assets grew to ₹1,20,422 crore as of September 30, 2026, supported by increased equity.
- Monitor the sustainability of profit growth and its conversion from revenue in the upcoming results.

### Bull Case

HCL Technologies reported a consolidated revenue of ₹35,620 crore for the quarter ending 2026-27, an increase of 11.5% year-over-year. Net profit for the same period rose by 21.2% to ₹5,132 crore. The company's advanced AI revenue saw a significant sequential jump of 28%, reaching $219 million. Despite a reported slip in overall growth to a three-year low, the company's margin performance exceeded estimates, and deal wins were noted as positive factors. The daily trend analysis indicates a 'bullish' SuperTrend direction, supported by a positive plus DI (29.27) relative to minus DI (16.7). Weekly trend analysis also shows a 'bullish' SuperTrend direction.

- Consolidated revenue for the quarter ending 2026-27 increased by 11.5% to ₹35,620 crore.
- Net profit for the same period grew by 21.2% to ₹5,132 crore.
- Advanced AI revenue increased 28% sequentially to $219 million.
- Daily and weekly technical trend indicators show a 'bullish' SuperTrend direction.

- [TCS vs HCL Tech: How 2 IT giants stack up in the AI race after Q2 results](https://www.businesstoday.in/markets/stocks/story/tcs-vs-hcl-tech-how-2-it-giants-stack-up-in-the-ai-race-after-q2-results-561285-2026-10-13)
- [HCLTech jumps as margin beat, deal wins outweigh software weakness](https://www.thehindubusinessline.com/markets/hcltech-jumps-as-margin-beat-deal-wins-outweigh-software-weakness/article71577962.ece)
- [HCL Tech share price: Targets suggest limited upside; what JPMorgan, Jefferies, Citi say](https://www.businesstoday.in/markets/stocks/story/hcl-tech-share-price-targets-suggest-limited-upside-what-jpmorgan-jefferies-citi-say-561157-2026-10-13)
- [HCLTech beats estimates, but Q2 growth slips to three-year low | Company Business News](https://www.livemint.com/companies/hcl-technologies-q2-results-202627-11791813143191.html)
- [HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2% | Company Business News](https://www.livemint.com/companies/company-results/hcltech-q2-results-202627-11791811434426.html)
- [HCL Technologies Limited has informed the Exchange regarding Release "HCLTech and Anthropic sign Global Premier Partnership to scale governed Agentic AI across global enterprises". |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026160157_Release12October2026.pdf)
- [HCL Technologies Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026165747_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange that Board of Directors at its meeting held on October 12, 2026, declared Interim Dividend of Rs. 12 per equity share. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170051_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange regarding a press release dated October 12, 2026, titled "Investor Release Q2 FY 2027". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf)
- [HCL Technologies Limited has informed the Exchange about Consolidated Financial Statements IFRS for three and six months period ended September 30, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026171640_IFRS_Financials_3.pdf)

### Bear Case

HCL Technologies reported a slowdown in its growth, with Q2 revenue increasing by 11.5% to ₹35,620 crore, which missed estimates. While net profit saw a 21.2% rise to ₹5,132 crore, the company's overall growth rate slipped to a three-year low. Despite a sequential jump in advanced AI revenue to $219 million, contributing to a 10.25% increase in net profit during the same period, the broader software segment experienced weakness. Technical indicators show a bearish monthly trend with ADX at 40.09 and a negative minus DI/plus DI ratio, suggesting potential downward momentum over a longer timeframe. The stock has experienced a significant drawdown of -33.5% and a maximum drawdown of -48.2% over an unspecified period, indicating historical volatility. The year-to-date return stands at -18.9%.

- Q2 revenue growth of 11.5% to ₹35,620 crore missed estimates, marking a three-year low.
- Year-to-date return as of 2026-10-13 is -18.9%.
- The stock has experienced a current drawdown of -33.5% and a maximum drawdown of -48.2%.
- Monthly technical trend indicators suggest a bearish outlook with ADX at 40.09.

- [TCS vs HCL Tech: How 2 IT giants stack up in the AI race after Q2 results](https://www.businesstoday.in/markets/stocks/story/tcs-vs-hcl-tech-how-2-it-giants-stack-up-in-the-ai-race-after-q2-results-561285-2026-10-13)
- [HCLTech jumps as margin beat, deal wins outweigh software weakness](https://www.thehindubusinessline.com/markets/hcltech-jumps-as-margin-beat-deal-wins-outweigh-software-weakness/article71577962.ece)
- [HCL Tech share price: Targets suggest limited upside; what JPMorgan, Jefferies, Citi say](https://www.businesstoday.in/markets/stocks/story/hcl-tech-share-price-targets-suggest-limited-upside-what-jpmorgan-jefferies-citi-say-561157-2026-10-13)
- [HCLTech beats estimates, but Q2 growth slips to three-year low | Company Business News](https://www.livemint.com/companies/hcl-technologies-q2-results-202627-11791813143191.html)
- [HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2% | Company Business News](https://www.livemint.com/companies/company-results/hcltech-q2-results-202627-11791811434426.html)
- [HCL Technologies Limited has informed the Exchange regarding Release "HCLTech and Anthropic sign Global Premier Partnership to scale governed Agentic AI across global enterprises". |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026160157_Release12October2026.pdf)
- [HCL Technologies Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026165747_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange that Board of Directors at its meeting held on October 12, 2026, declared Interim Dividend of Rs. 12 per equity share. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170051_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange regarding a press release dated October 12, 2026, titled "Investor Release Q2 FY 2027". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf)
- [HCL Technologies Limited has informed the Exchange about Consolidated Financial Statements IFRS for three and six months period ended September 30, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026171640_IFRS_Financials_3.pdf)

### FAQs

**What were HCL Technologies' key financial results for the quarter and half-year ended September 30, 2026?**

For the quarter and half-year ended September 30, 2026, HCL Technologies reported consolidated revenue of ₹35,620 crore, an increase of 11.5% year-over-year. Net profit rose 21.2% year-over-year to ₹5,132 crore. Advanced AI revenue specifically grew 28% sequentially to $219 million. The company also reported an EBIT margin of 18.2% for the quarter, which included restructuring costs.

**What is HCL Technologies' guidance for FY27 and what was the recent dividend declared?**

HCL Technologies has provided guidance for FY27, expecting constant-currency revenue growth of 2.5%–4.0% overall and 3.0%–4.0% for its Services segment. The company aims for an EBIT margin target of 17.5%–18.5% for FY27. On October 12, 2026, the Board of Directors declared an interim dividend of ₹12 per equity share for the Financial Year 2026-27, with a record date of October 16, 2026.

**What strategic partnerships has HCL Technologies entered into recently?**

On October 12, 2026, HCL Technologies announced a Global Premier Partnership with Anthropic. This collaboration aims to accelerate the adoption of Agentic AI across global enterprises, focusing on safety, cybersecurity, and governance. HCL Technologies plans to establish a dedicated Anthropic Business Unit and Centre of Excellence, and will embed Anthropic's AI capabilities into select HCLSoftware enterprise products.

**What are the nearest support and resistance levels for HCL Technologies' share price as of October 13, 2026?**

As of October 13, 2026, the nearest support level for HCL Technologies is approximately 2.91% below the current price at ₹1287.41. The nearest resistance level is approximately 11.75% above the current price at ₹1481.74.

- [TCS vs HCL Tech: How 2 IT giants stack up in the AI race after Q2 results](https://www.businesstoday.in/markets/stocks/story/tcs-vs-hcl-tech-how-2-it-giants-stack-up-in-the-ai-race-after-q2-results-561285-2026-10-13)
- [HCLTech jumps as margin beat, deal wins outweigh software weakness](https://www.thehindubusinessline.com/markets/hcltech-jumps-as-margin-beat-deal-wins-outweigh-software-weakness/article71577962.ece)
- [HCL Tech share price: Targets suggest limited upside; what JPMorgan, Jefferies, Citi say](https://www.businesstoday.in/markets/stocks/story/hcl-tech-share-price-targets-suggest-limited-upside-what-jpmorgan-jefferies-citi-say-561157-2026-10-13)
- [HCLTech beats estimates, but Q2 growth slips to three-year low | Company Business News](https://www.livemint.com/companies/hcl-technologies-q2-results-202627-11791813143191.html)
- [HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2% | Company Business News](https://www.livemint.com/companies/company-results/hcltech-q2-results-202627-11791811434426.html)
- [HCL Technologies Limited has informed the Exchange regarding Release "HCLTech and Anthropic sign Global Premier Partnership to scale governed Agentic AI across global enterprises". |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026160157_Release12October2026.pdf)
- [HCL Technologies Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026165747_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange that Board of Directors at its meeting held on October 12, 2026, declared Interim Dividend of Rs. 12 per equity share. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170051_FinancialResults.pdf)
- [HCL Technologies Limited has informed the Exchange regarding a press release dated October 12, 2026, titled "Investor Release Q2 FY 2027". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf)
- [HCL Technologies Limited has informed the Exchange about Consolidated Financial Statements IFRS for three and six months period ended September 30, 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026171640_IFRS_Financials_3.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹1,221.93
- Risk regime: Higher Price Risk

### Support levels
- 1287.41015625
- 1180.9187499999998
- 1149.1

### Resistance levels
- 1481.74375
- 1509.7
- 1570

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +8.42% |
| return_10 | +5.86% |
| return_1m | +9.94% |
| return_1y | -11.29% |
| return_20 | +9.94% |
| return_3m | +8.58% |
| return_5 | +10.10% |
| return_6m | -7.23% |
| return_since_start | -30.65% |
| return_ytd | -18.87% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -48.16% |
| annualized_volatility | +29.21% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# HCLTech Q2 FY2026-27: Revenue and Profit Rise

HCL Technologies reported consolidated revenue from operations of ₹35,620 crore for the quarter ended 30 September 2026, up 3.0% sequentially. Against the matching quarter a year earlier, revenue rose from ₹31,942 crore to ₹35,620 crore, an increase of 11.5%. Profit for the period was ₹5,132 crore, up 10.9% sequentially and 21.2% year on year.

## Revenue and Expenses

Revenue increased in each quarter of the five-quarter series, from ₹31,942 crore in Q2 FY2025-26 to ₹35,620 crore in the current quarter. Expenses were ₹29,349 crore, up 1.8% sequentially and 10.1% from ₹26,655 crore in the year-ago quarter. The slower sequential increase in expenses than revenue coincided with higher pre-tax profit.

Employee benefit expense was ₹19,828 crore and depreciation and amortisation expense was ₹1,012 crore. Other income was ₹234 crore.

## Profit and Earnings

Profit before tax was ₹6,505 crore, up 6.5% sequentially from ₹6,108 crore and 14.1% from ₹5,702 crore in the year-ago quarter. Profit for the period increased to ₹5,132 crore from ₹4,626 crore sequentially and ₹4,236 crore a year earlier. Tax expense declined 9.9% sequentially to ₹1,335 crore.

Basic earnings per share from continuing operations was ₹18.96, compared with ₹17.09 in the prior quarter and ₹15.63 in the matching quarter a year earlier. Finance costs rose to ₹194 crore from ₹84 crore sequentially, but were below ₹215 crore in the year-ago quarter.

## Balance Sheet

At 30 September 2026, total assets were ₹1,20,422 crore, 3.6% higher than at 31 March 2026. Cash and cash equivalents stood at ₹10,046 crore, compared with ₹8,265 crore at 31 March. Over the same dates, current investments declined from ₹6,960 crore to ₹2,947 crore, while other bank balances fell from ₹15,160 crore to ₹10,358 crore. These balance-sheet movements describe changes in reported positions; they do not by themselves establish the source or use of funds.

Total liabilities were ₹44,296 crore, up from ₹41,061 crore at 31 March. Current borrowings were ₹930 crore versus ₹122 crore, while equity attributable to owners of the parent was ₹76,092 crore. Goodwill increased to ₹25,514 crore from ₹23,888 crore.

## Management Commentary

Management attributed the quarter's momentum to Advanced AI, which grew 28.4% sequentially and 78.0% year on year in constant currency, and said its AI offerings are resonating with clients. New bookings reached $3.3 billion, up 27% year on year, taking first-half bookings to a record high. Management linked an 18.2% EBIT margin and the highest-ever quarterly net income to improved profitability. It also cited continued investment across the full AI stack and strategic partnerships as supporting its growth trajectory, although these comments are largely qualitative.

## Key Takeaway
HCLTech posted sequential and year-on-year growth in revenue, pre-tax profit and profit for the period. Expenses grew more slowly than revenue sequentially, while the balance sheet showed higher cash alongside lower current investments and other bank balances compared with 31 March 2026.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +60.88%
- FII holding: +14.90%
- DII holding: +18.75%
- Mutual fund holding: +9.04%
- Retail holding: +3.47%
- Promoter pledged: +0.00%

### Major reported shareholders

- Vama Sundari Investments (Delhi) Pvt. Ltd — +44.23% (Bodies Corporate)
- HCL Holdings Private Ltd. — +16.46% (Bodies Corporate)
- Life Insurance Corporation Of India — +7.15%
- HDFC Trustee Company Limited — +2.09%
- Artisan International Value Fund — +1.97%
- Parag Parikh Flexi Cap Fund — +1.63%
- SBI Mutual Fund — +1.39%
- NPS Trust — +1.24%
- ICICI Prudential Mutual Fund — +1.18%
- Kiran Nadar Musuem of Art — +0.08% (Trusts)

## Official filings

- 2026-10-12 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026160157_Release12October2026.pdf)
- 2026-10-12 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026165747_FinancialResults.pdf)
- 2026-10-12 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170051_FinancialResults.pdf)
- 2026-10-12 — Press Release: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf)
- 2026-10-12 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026171640_IFRS_Financials_3.pdf)
- 2026-10-12 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026172145_FinancialResults_6.pdf)
- 2026-10-12 — Financial Results Filing: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1736452_12102026073824_WEB.xml)
- 2026-10-12 — Financial Results Filing: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1736455_12102026074754_WEB.xml)
- 2026-10-12 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_12102026230058_Audio_Conference_Call.pdf)
- 2026-10-08 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_08102026115718_Release8October2026.pdf)
- 2026-10-07 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_07102026153507_Release07October2026.pdf)
- 2026-10-07 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_07102026171438_Regulation_74_5_.pdf)
- 2026-10-06 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_06102026124422_Release6October2026.pdf)
- 2026-10-06 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_06102026163758_Release6October2026_2.pdf)
- 2026-10-05 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_05102026175639_ConferenceCallinvite.pdf)
- 2026-09-28 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_28092026180853_Release28September2026.pdf)
- 2026-09-28 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_28092026184228_StockExchangeIntimationSeptember282026.pdf)
- 2026-09-28 — Press Release: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_28092026190026_StockExchangeIntimationSeptember282026.pdf)
- 2026-09-28 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1828_WebXMLFile_20260928_194914167.xml)
- 2026-09-22 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_22092026153803_Release22September2026.pdf)
- 2026-09-21 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_21092026134925_Release21September2026.pdf)
- 2026-09-18 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_18092026174707_Release18September2026.pdf)
- 2026-09-17 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_17092026110506_Release17September2026.pdf)
- 2026-09-17 — Board Meeting Notice: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_17092026172209_BoardMeetingIntimation.pdf)
- 2026-09-17 — Generic Announcement: HCL Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HCLTECH_17092026172352_TradingWindowClsoureintimation.pdf)

## News and market events

- 2026-10-13 — BUSINESSTODAY: **TCS vs HCL Tech: How 2 IT giants stack up in the AI race after Q2 results** — HCL Tech vs TCS, TCS vs HCL Tech, TCS Q2 results, HCL Tech Q2 results, earnings season — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-vs-hcl-tech-how-2-it-giants-stack-up-in-the-ai-race-after-q2-results-561285-2026-10-13)
- 2026-10-13 — The Hindu: **HCLTech jumps as margin beat, deal wins outweigh software weakness** — Nifty IT index up 3% ‌and Nifty 50 index ‌up ⁠0.8% in morning trade — [Source](https://www.thehindubusinessline.com/markets/hcltech-jumps-as-margin-beat-deal-wins-outweigh-software-weakness/article71577962.ece)
- 2026-10-13 — BUSINESSTODAY: **HCL Tech share price: Targets suggest limited upside; what JPMorgan, Jefferies, Citi say** — HCL Tech share price, HCL Tech shares, HCL Tech target, HCL Tech guidance, HCL Tech FY27 guidance, HCL Tech Q2 results, HCL Tech Q2 net profit, HCL Tech news, HCL Tech dividend — [Source](https://www.businesstoday.in/markets/stocks/story/hcl-tech-share-price-targets-suggest-limited-upside-what-jpmorgan-jefferies-citi-say-561157-2026-10-13)
- 2026-10-12 — Mint: **HCLTech beats estimates, but Q2 growth slips to three-year low | Company Business News** — HCL Tech’s advanced AI revenue jumped 28% sequentially to $219 million, while net profit jumped 10.25% during the same period to $538 million. — [Source](https://www.livemint.com/companies/hcl-technologies-q2-results-202627-11791813143191.html)
- 2026-10-12 — Mint: **HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2% | Company Business News** — HCLTech Q2 Results 2026-27: Consolidated revenue rose 11.5% to ₹35,620 crore, net profit increased 21.2% to ₹5,132 crore. — [Source](https://www.livemint.com/companies/company-results/hcltech-q2-results-202627-11791811434426.html)
- 2026-10-12 — BUSINESSTODAY: **HCL Tech, RBL Bank, ICICI Pru AMC Q2 results today; earnings preview** — HCL Tech Q2 results preview, RBL Bank Q2 results prevew, ICICI Prudential AMC Q2 results preview — [Source](https://www.businesstoday.in/markets/stocks/story/hcl-tech-rbl-bank-icici-pru-amc-q2-results-today-earnings-preview-560909-2026-10-12)
- 2026-10-11 — Mint: **Mint Explainer | What a green card freeze means for H-1B workers | Mint** — The suspension of green card processing for Microsoft, Adobe, Infosys, TCS, Wipro, HCLTech, Cognizant and Capgemini may complicate talent retention and hiring. Companies could rely more on temporary visas, US-based hiring and offshore delivery while investigations continue. — [Source](https://www.livemint.com/industry/us-green-card-freeze-indian-it-companies-h-1b-workers-hiring-visas-11791708006031.html)
- 2026-10-09 — IANSLIVE.IN: **Adani Group stocks surge up to 3 pc; Reliance Industries, BSE shares drag** — Mumbai, Oct 9 (IANS) Adani Group stocks rallied up to 3 per cent as domestic equity benchmarks recovered losses to close over 1 per cent higher each on Friday, while Reliance Industries and BSE Ltd shares dragged. — [Source](https://ianslive.in/adani-group-stocks-surge-up-to-3-pc-reliance-industries-bse-shares-drag--20261009163131)
- 2026-10-09 — The Hindu: **MEA criticises US crackdown on tech visas** — MEA criticizes US tech visa PERM crackdown, arguing it harms mutual interests and talent mobility between India and the US. — [Source](https://www.thehindubusinessline.com/companies/mea-criticises-us-tech-visa-crackdown/article71563415.ece)
- 2026-10-09 — Times of India: **‘About 100 H-1B visa holders were on Amazon’s initial team that built AWS’: Ex-employee criticises US green-card suspension for tech firms** — Shobhit Mathur, co-founder and vice-chancellor of Rishihood University, has defended the contribution of skilled foreign workers to the US technology — [Source](https://timesofindia.indiatimes.com/world/us/about-100-h-1b-visa-holders-were-on-amazons-initial-team-that-built-aws-ex-employee-criticises-us-green-card-suspension-for-tech-firms/articleshow/134819819.cms)
- 2026-10-09 — BUSINESSTODAY: **TCS, Infosys, Wipro shares jump; Nifty IT rises 2%; what analysts say** — TCS shares, Infosys shares, Wipro shares, Nifty IT index, Indian IT stocks, IT stocks recovery, TCS Q2 FY27 results, OpenAI revenue, AI monetisation, PERM applications, IT stocks outlook, buy on dips, Indian stock market — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-wipro-shares-jump-nifty-it-rises-2-what-analysts-say-560604-2026-10-09)
- 2026-10-09 — Mint: **India IT set for fourth year of weak growth on geopolitics, AI risks | Mint** — HCL Technologies and Tech Mahindra are next to report quarterly results, after TCS's revenue rose just 0.5% sequentially in constant currency terms. — [Source](https://www.livemint.com/industry/infotech/ai-impact-on-it-sector-quarterly-results-11791520593653.html)
- 2026-10-09 — BUSINESSTODAY: **TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension** — Why IT stocks rising today, TCS share price, Infosys share price, Wipro share price, HCL Tech share price, TCS news, H1b visa news, H1b news — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rally-5-top-5-it-stocks-add-rs-56000-cr-in-m-cap-shrug-off-h-1b-visa-suspension-560559-2026-10-09)
- 2026-10-09 — Mint: **TCS' first reaction to US green card suspension: ‘We don’t expect an impact as…’ | Company Business News** — TCS said it will comply with any US Department of Labor directive on the suspension of the PERM green card program. The company said its US hiring focuses on local talent and that the suspension is unlikely to affect its workforce strategy or customer engagements. — [Source](https://www.livemint.com/companies/news/tcs-first-reaction-to-us-green-card-suspension-we-don-t-expect-an-impact-as-11791516509213.html)
- 2026-10-09 — Economic Times: **India IT set for fourth year of weak growth on geopolitics, AI risks** — As HCL Technologies Ltd. and Tech Mahindra Ltd. unveil their latest reports, investors are keenly observing the situation, particularly given the looming threats posed by AI disruptions and restrained client expenditures. These factors are influencing growth forecasts for tech companies. Tata Consultancy Services Ltd. did exceed expectations in profit gains; however, revenue growth remained modest in terms of constant currency. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/india-it-set-for-fourth-year-of-weak-growth-on-geopolitics-ai-risks/articleshow/134804013.cms)
- 2026-10-09 — BUSINESSTODAY: **Infosys, TCS, Wipro, HCL Tech shares: H-1B suspension impact, ADR reaction, what's next?** — TCS share price, Infosys share price, Wipro share price, HCL Tech share price, H-1b visa, H-1b visa suspension impact — [Source](https://www.businesstoday.in/markets/stocks/story/infosys-tcs-wipro-hcl-tech-shares-h-1b-visa-suspension-impact-adr-reaction-whats-next-560544-2026-10-09)
- 2026-10-08 — BUSINESSTODAY: **TCS shares rise ahead of Q2 results; Mphasis, Coforge, Infosys also gain; here's why** — TCS Q2 results, TCS Q2 results today, TCS share price, Coforge share price, Mphasis share price, infosys share price, IT stocks — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rise-ahead-of-q2-results-mphasis-coforge-infosys-also-gain-heres-why-560311-2026-10-08)
- 2026-10-08 — BUSINESSTODAY: **HCL Tech stock in focus as IT major expands South Africa operations; key details** — HCLTech, HCLTech stock, HCLTech share price, HCLTech shares, South Africa operations, Johannesburg headquarters, AI Centre of Excellence, artificial intelligence, AI solutions, Sandeep Saxena, technology sector, IT stocks, digital talent, AI engineering — [Source](https://www.businesstoday.in/markets/stocks/story/hcl-tech-stock-in-focus-as-it-major-expands-south-africa-operations-key-details-560283-2026-10-08)
- 2026-10-07 — Mint: **Top dividend stocks: PTC India, Coal India, REC among 10 dividend stocks with yields of up to 16.7%** — PTC India leads with a dividend yield of 16.7%, highest among 10 stocks. The company declared two interim dividends in 2026 and proposed a final dividend. Other top dividend-yielding companies include Coal India at 6.3% and REC at 6.1% as per October 2026 analysis. — [Source](https://www.livemint.com/market/stock-market-news/top-dividend-stocks-ptc-india-coal-india-rec-among-10-dividend-stocks-with-yields-of-up-to-167-11791361850077.html)
- 2026-10-05 — BUSINESSTODAY: **TCS, Infosys, HCL Tech, Wipro, TechM: 3 takeaways from Accenture's Q4 results; top picks** — Infosys share price, TCS share price, Accenture results, Accenture results key takeways for Indian IT firms — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-hcl-tech-wipro-techm-3-takeaways-from-accentures-q4-results-top-picks-559576-2026-10-05)
- 2026-10-05 — BUSINESS: **IT shares trade mixed post Accenture earnings; HCL Tech, Infy down up to 4%** — 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. — [Source](https://www.business-standard.com/markets/news/it-shares-trade-mixed-post-accenture-earnings-hcl-tech-infy-down-up-to-4-126100500411_1.html)
- 2026-10-05 — Mint: **TCS, Wipro, Infosys, HCL, Tech Mahindra shares: Accenture Q4 strong show impact on Indian IT stocks decoded by experts** — Accenture's impressive Q4 earnings and upward revenue forecast signal cautious optimism for Indian IT stocks. However, experts urge investors to focus on deal conversions and overall demand dynamics as companies navigate the complexities of AI disruption and uneven market conditions. — [Source](https://www.livemint.com/market/stock-market-news/tcs-wipro-infosys-hcl-tech-mahindra-shares-accenture-q4-strong-show-impact-on-indian-it-stocks-decoded-by-experts-11791182896979.html)
- 2026-10-05 — Mint: **TCS, HCL Tech to Mphasis: IT stocks to add in portfolio ahead of Q2 results | Check target price, upside, preview** — IT stocks to buy: The brokerage’s recommendations point to a mixed but potentially attractive setup across Indian IT stocks. — [Source](https://www.livemint.com/market/stock-market-news/tcs-hcl-tech-to-mphasis-it-stocks-to-add-in-portfolio-ahead-of-q2-results-check-target-price-upside-preview-11791182199262.html)
- 2026-10-05 — The Hindu: **Gap-Up fades as IT and HDFC Bank drag Nifty to near-flat; crude, Rupee weigh** — Bank Nifty, which had surged over 600 points in early trade, surrendered nearly all its gains through the session — [Source](https://www.thehindubusinessline.com/markets/gap-up-fades-as-it-and-hdfc-bank-drag-nifty-to-near-flat-crude-rupee-weigh/article71546207.ece)
- 2026-10-01 — CNBC-TV18: **Here's when IT companies are reporting their Q2 results and these are the key focus areas** — From TCS' leadership transition to Infosys and HCLTech's growth guidance for FY27, there is a lot to focus on IT stocks as they count down to their second quarter results through the course of October and November. — [Source](https://www.cnbctv18.com/market/q2-results-dates-for-it-stocks-infosys-tcs-wipro-tech-mahindra-hcltech-mphasis-share-key-focus-areasprice-20002730.htm)

## Business profile

**Strategic vision:** Global technology services and software for enterprise clients.

### Business segments
- **IT and Business Services (ITBS):** The core services engine focusing on enterprise digital transformation, hybrid cloud infrastructure management, and application modernization.
- **Engineering and R&D Services (ERS) Integration:** Provides product engineering, semiconductor chip design, and IoT systems, securing downstream ITBS service agreements.
- **HCLSoftware:** Develops, markets, and licenses proprietary software products focused on customer experience, digital commerce, and security.

### Competitive strengths
- Integrated service and software ecosystem
- Partnerships at product-development phase
- Cross-selling proprietary software platforms

## Related stocks

- [ETERNAL LIMITED (IT)](https://faxioms.com/stocks/eternal) — -0.79%
- [Infosys Limited (IT)](https://faxioms.com/stocks/infy) — +4.13%
- [Tata Consultancy Services Limited (IT)](https://faxioms.com/stocks/tcs) — +6.79%
- [Tech Mahindra Limited (IT)](https://faxioms.com/stocks/techm) — +4.93%
- [Wipro Limited (IT)](https://faxioms.com/stocks/wipro) — +4.45%

## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/hcltech
Markdown representation: https://faxioms.com/stocks/hcltech?render=md