HCL Tech Shares Drop 4%; Market Valuation Declines

New Delhi, Jul 14 (PTI) Shares of HCL Technologies dropped over 4 per cent on Tuesday, wiping out Rs 14,653.78 crore from its market valuation, as the company's June quarter earnings failed to cheer investors.

The stock declined 4.42 per cent to settle at Rs 1,167 on the BSE. During the day, it tanked 4.66 per cent to Rs 1,164.

At the NSE, shares of the firm edged lower by 4.46 per cent to end at Rs 1,166.70.

The company's market valuation eroded by Rs 14,653.78 crore to Rs 3,16,684.72 crore.

The stock was the biggest laggard among the Sensex and Nifty firms.


HCL Technologies on Monday reported a more than 20 per cent rise in consolidated net profit to Rs 4,624 crore for the June quarter on "good all-round performance" and retained its FY27 revenue growth guidance of 1-4 per cent, citing strong deal momentum and a positive outlook.

The company said its record USD 2.4 billion in Q1 bookings, the highest-ever for a first quarter, and a robust deal pipeline reflect resilient demand despite some softness in West Asia.

"We expect a strong booking even in Q2. So, we feel quite positive about the overall outlook," HCLTech CEO and Managing Director C Vijayakumar said.

The HCL Tech board has also approved an investment of up to Rs 3,500 crore for setting up data centres in India.

The Noida-headquartered IT services company announced its entry into the full-stack AI market to address the complete spectrum of business opportunities arising from the growing demand for AI-led services and solutions across the private sector and government.

Its revenue from operations came in 14 per cent higher at Rs 34,579 crore for Q1 FY27.