HTHCL Technologies532281Information technology services

HCL Tech reported robust Q2 numbers with advanced AI revenue growth of 28.4% and narrowed FY27 guidance; Citi maintained sell but hiked target price

By ScoutQuest · Tue 13 Oct 2026, 8:21 AM IST · 1 min read

Advanced AI revenue growth

28.4 percent

Advanced AI revenue

$219 million

Constant currency revenue growth QoQ

2.3 percent

FY27 guidance narrowed

2.5 to 4 percent

Services revenue guidance

3 to 4 percent

Heard on business television between 08:21:43 - 08:24:43 IST.

• Advanced AI revenue grew 28.4% quarter on quarter to $219 million
• Constant currency revenue growth was 2.3% quarter on quarter
• Management narrowed FY27 consolidated guidance to 2.5-4% from 1.1-4%, and services revenue guidance to 3-4% from 1.5-4.5%, with the top end cut from 4.5% to 4%
• Citi maintained a sell rating, hiked target price to 1050 from 1030, citing decent Q2 but slower H2 implied by services guidance; EBITDA margin surprised positively while software business disappointed
• HCL Tech trades at 20-25% premium to peers TCS and Infosys

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