HCLTech raises FY27 growth floor. Nomura lifts HCL Tech stock target 1.87% above close? no

Published on 10/20/2026 at 10:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 3.7 billion and net income rose 21.2 percent. Nomura set HCL Tech stock target at INR 1,330 on October 13.

Growth and valuation markers

HCLTech reported USD 3.3 billion in new bookings on October 12, 2026.
Fiscal 2027 revenue guidance stands at 2.5 percent to 4.0 percent in constant currency.
HCL Technologies had a market capitalization of INR 3.7 trillion as of October 19, 2026.

HCL Tech, INE860A01027, Illustration mit AI erstellt.

HCLTech (ISIN INE860A01027) raised its fiscal 2027 revenue-growth floor to 2.5 percent on October 12, 2026, while reporting USD 3.7 billion in second-quarter revenue. The company also reported USD 3.3 billion in new bookings, up 27 percent year over year, according to HCLTech.

Guidance rises as margins hold

The company lifted its fiscal 2027 constant-currency revenue-growth guidance from 1.0 percent to 2.5 percent at the lower end, while retaining the upper end at 4.0 percent. Services revenue is expected to grow 3.0 percent to 4.0 percent, and EBIT margin guidance remains 17.5 percent to 18.5 percent.

For the quarter ended September 30, 2026, EBIT margin reached 18.2 percent, expanding 131 basis points sequentially. Advanced AI revenue rose 78 percent year over year to USD 219 million, while HCLSoftware annual recurring revenue stood at USD 1.13 billion, based on the company's investor-relations figures for the period.

Three dated milestones

On September 17, 2026, HCLTech launched HCLTech Pulse for companies with annual revenue of USD 500 million to USD 5.0 billion, according to HCLTech. On September 22, 2026, it said M Group would use AI-led managed services across more than 200 locations.

On October 12, 2026, the company reported net income of INR 5,132 crore for the second quarter, up 21.2 percent year over year, and declared an interim dividend of INR 12 per share. The payment date is October 26, 2026, while the record date was October 16, 2026, according to The Economic Times.

What do analysts see in the target?

Nomura raised its target from INR 1,310 to INR 1,330 on October 13, 2026, while keeping a Buy rating, as reported by The Economic Times. The same report said CLSA retained Hold with a target of INR 1,094, while JPMorgan kept Underweight with a target of INR 1,080. The range shows that stronger AI revenue and bookings are competing with concerns about organic growth and future margin pressure.

Stock valuation and next date

HCL Tech last traded at INR 1,379.90 on the NSE on October 19, 2026 at 3:30 p.m. IST. Its market capitalization was INR 3.7 trillion, and its 52-week range was INR 1,030.00 to INR 1,780.10 as of that date.

HCLTech's interim dividend payment is scheduled for October 26, 2026. The next investor milestone is therefore the cash distribution, while the revised growth range and 18.2 percent quarterly EBIT margin remain the central operating reference points.