Jefferies, CLSA, Morgan Stanley retain 'Hold' on HCLTech despite Q3 miss

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Jefferies, CLSA, Morgan Stanley retain 'Hold' on HCLTech despite Q3 miss - Business Standard

Quick Summary:

Overall, the domestic and foreign brokerages reflected a cautious stance, balancing HCLTech's strengths with valuation concerns and moderated growth guidance.Sensex sheds 1.Upcoming IPO!

Brokerages on HCLTech: HCLTech, India’s third-largest IT services provider, announced its financial results for the December quarter of FY25 on January 13, 2025, after market hours, which missed Street expectations.

It noted stable demand momentum across smaller deals but raised concerns over the unchanged growth guidance despite slight revisions in FY25 CC revenue growth expectations.