Anand Rathi upgrades HCLTech: HCL Tech stock trades 23.40 percent below its 52-week high

Published on 10/19/2026 at 10:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

HCLTech's Q2 revenue reached INR 35,620 crore and FY27 guidance rose. The FY27 margin range is 17.5-18.5 percent for HCL Tech stock.

Guidance and analyst signals

Anand Rathi upgraded HCLTech to Buy on October 13, 2026.
Q2 FY27 revenue reached INR 35,620 crore on October 12, 2026.
HCLTech's market capitalization was INR 3.7 trillion on October 19, 2026.

HCL Tech, INE860A01027, Illustration mit AI erstellt.

HCL Tech (ISIN INE860A01027) became the subject of a Buy upgrade from Anand Rathi on October 13, 2026, after HCLTech's second-quarter results raised the lower end of its fiscal 2027 revenue outlook. The recommendation came with a target of INR 1,435.00, while the stock's latest NSE quote was INR 1,363.60 on October 19, 2026 at 2:05 p.m. IST during the open session.

Analyst upgrade follows Q2 results

According to Moneycontrol, Anand Rathi upgraded HCLTech from Hold to Buy on October 13 and set a target of INR 1,435.00. The research cited stronger AI monetization, deal wins and operating efficiency, while also noting near-term macroeconomic uncertainty.

The company reported Q2 FY27 revenue of INR 35,620 crore, up 3.0 percent quarter over quarter and 11.5 percent year over year, in its investor-relations release dated October 12, 2026. Net income reached INR 5,132 crore, up 11.0 percent from the first quarter and 21.2 percent from the year-ago quarter, while EBIT margin expanded to 18.2 percent from the previous quarter.

What does the guidance mean?

The HCLTech investor-relations release raised the lower end of fiscal 2027 constant-currency revenue growth guidance from 1.0 percent to 2.5 percent, leaving the range at 2.5-4.0 percent. Services revenue growth guidance stands at 3.0-4.0 percent, and EBIT margin guidance remains 17.5-18.5 percent.

Three dated company milestones

On October 12, 2026, HCLTech reported Q2 FY27 revenue of INR 35,620 crore and net income of INR 5,132 crore, according to Financial Times. On October 12, the company also announced an interim dividend of INR 12.00 per share. On October 13, 2026, Anand Rathi upgraded the stock and set its INR 1,435.00 target.

Dates for investors

The next substantiated shareholder payment date is October 26, 2026, when the interim dividend is scheduled for payment. The fiscal 2027 second-quarter reporting date was October 12, 2026, and the results now provide the latest operating reference for the revised outlook.

Stock valuation stays demanding

HCL Technologies' market capitalization was INR 3.7 trillion on October 19, 2026. The same market snapshot placed the 52-week range at INR 1,030.00 to INR 1,780.10, leaving the latest INR 1,363.60 quote below the yearly high while the company works to convert AI demand and bookings into broader organic growth.