HCL Tech shares rise 2% ahead of IT major’s Q2 earnings announcement today. What to expect?

ETMarkets.com

HCL Technologies shares rose ahead of the IT major’s Q2 FY27 results. 

HCL Technologies shares rose to Rs 1,236.80 apiece on NSE on Monday. The company will be the second IT firm to release its quarterly results in the ongoing Q2 earnings season, following peer and India’s largest IT services firm Tata Consultancy Services (TCS) which kickstarted the season last week, reporting 15% year-on-year (YoY) growth in its consolidated net profit at Rs 13,884 crore.

Also read | TCS Q2 results: Profit rises 15% YoY to Rs 13,884 crore; co declares dividend at Rs 12 per share

What to expect for HCL Technologies’ Q2 results

HCL Technologies is likely to report a 12% year-on-year (YoY) growth in profit and 16% YoY growth in revenue for the second quarter of FY27, according to an average of seven brokerages. The IT major is expected to get support from acquisitions, deal ramp-ups and seasonal strength in the second quarter.

Sequentially, the IT major is expected to post sequential constant-currency (CC) revenue growth in the range of 2.7-3%, aided by inorganic contributions from the HPE Telco Solutions business and the Jaspersoft acquisition. However, brokerages expect the company to revise its revenue growth guidance. Jefferies expects HCL Tech to narrow its FY27 services revenue growth guidance by 50 basis points to 2-4% and maintain its margin guidance.

Also read | HCL Tech Q2 Preview: Will the IT major narrow its guidance? 5 things to watch out for

What to watch out for in HCL Tech’s Q2 earnings print

Investors will closely track HCL Tech’s margin commentary, as acquisitions may pump up revenue but impact profitability. JM Financial said operational efficiencies could support margins, but investments and acquisitions may act as headwinds.

Analysts will also look for updates on AI-led revenue compression, which Motilal Oswal estimates could have a 2-3% impact on the portfolio, and progress in building new revenue streams to offset that pressure.

HCL Tech share price

HCL Tech shares have gained more than a percent in the past one week, and delivered marginal positive returns over the past one month, even as the broader Nifty50 plunged around 4%. However, the stock has overall fallen nearly 26% in 2026 so far, driven by multiple headwinds that have impacted IT stocks this year.

In the longer term, the shares of the company have dropped 19% in one year and 3% in five years. The company has a market capitalisation of around Rs 1.24 lakh crore.