HCL Technologies shares edged higher by 1.68% in early trading on Monday, July 13, 2026, as investors awaited the company’s Q1 FY27 results. The stock opened at Rs. 1,162, compared to the previous close of Rs. 1,164.10, and reached an intraday high of Rs. 1,183.70 on the NSE.
Market participants are closely watching the June quarter numbers, management commentary, full-year guidance, deal pipeline, AI-driven business opportunities, and margin performance. The board is also expected to consider a second interim dividend for FY27 alongside the Q1 results.
Q1 Results Preview
Axis Securities projects a 3.5% quarter-on-quarter revenue growth for HCL Tech, supported by rupee depreciation, though client-specific headwinds and seasonal softness in the software business may act as drags. The brokerage notes that EBIT margins could decline by 40 basis points sequentially due to restructuring costs and higher investments. Key areas to watch include management’s outlook on Services and ERD businesses, software performance, deal pipeline, and FY27 revenue guidance.
Seema Srivastava, Senior Research Analyst at SMC Global Securities, expects a softer quarter amid reduced discretionary tech spending, slower client decisions, and macroeconomic uncertainty in major global markets. She added, “Services revenue is likely to remain under pressure, though steady execution of long-term digital transformation programs should provide some support. Margins may improve sequentially due to favorable currency movements, higher utilization, productivity initiatives, and cost controls, partially offset by annual wage revisions and continued AI investments.”
Key Factors to Watch
Investors will track whether HCL Tech can sustain its constant-currency revenue growth guidance of 1%-4% for FY27. In Q4 FY26, the company reported a consolidated net profit of Rs. 4,488 crore (up 4.2% YoY) and revenue from operations of Rs. 33,981 crore (up 12% YoY). CEO and MD C. Vijayakumar emphasized that the company’s top priority for FY27 is positioning itself to capitalize on AI opportunities for multi-decade value creation.
Share Performance
HCL Tech shares have delivered over 21% returns over the past five years and 6% over three years. However, the stock has declined 28.2% over the last year and is down 28% year-to-date. In the past month, it gained 6%, and over the last five trading sessions, it rose 3.7%. The 52-week high stands at Rs. 1,780.10 (February 3, 2026), while the 52-week low is Rs. 1,030 (July 1, 2026).
Should You Buy or Sell HCL Tech?
Market experts remain cautious ahead of the results. Harshal Dasani, Business Head at INVasset PMS, said, “The risk-reward equation is not favorable for chasing HCL Tech before results. If management delivers stable guidance with confidence around execution and improving client spending, the long-term investment case remains constructive. A staggered approach after results offers a better risk-reward than an aggressive pre-result position.”
Mahesh M Ojha of Kantilal Chhaganlal Securities advised investors to avoid taking new positions before earnings, noting that IT stocks often experience volatile swings during such periods.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should consult with a qualified financial advisor before making any investment decisions.
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