desk
Share
News Topical, Digital Desk : Following the company's fourth quarter results (Q4 results), the stock continued to decline. Shares fell by nearly 17 percent in just three days between April 22nd and April 24th. HCL Tech released its fourth quarter results after market hours on April 21st.
HCL Tech's leveraged positions saw a five-fold increase during the same period. According to NSE margin trading facility data, the company was ranked 186th on April 21st, but three days later, it rose to 22nd. According to the data, the value of leveraged positions in HCL Tech increased from Rs 148 crore on April 21st to Rs 715 crore on April 24th.
A similar
situation was seen in Infosys as well. Leveraged positions were Rs 833 crore on April 21, which increased to Rs 1383 crore on April 24. Infosys shares fell by 7 percent after its quarterly results.
Company's results were weaker than expectations HCL Tech shares fell after the company's results were weaker than market expectations. The company had estimated constant currency revenue growth between 1 percent and 4 percent for FY2027, while the market had expected more. The company's constant currency growth also declined by 3.3 percent, which was weaker than expected.
HCL Tech Stock News After these results, many analysts reduced their target prices and revised their ratings for HCL Tech. Out of 48 analysts, 16 have given 'buy', 16 have given 'hold' and 15 have given 'sell' rating.
HCL Tech Share Price closed 2 percent higher on Monday, halting a three-day decline. Shares are trading relatively flat on Tuesday.
--Advertisement--
