Navigating the HCL Tech Rollercoaster: To Buy, Sell, or Stay Put?
Thinking about diving into HCL Tech shares ? Q2 looked promising with a 10% profit boost and an 8% revenue rise, leading to a 3.5% share price jump. However, there’s a catch — HCL Tech trimmed its FY24 revenue forecast to 5–6% growth from the initial 6–8%. Market experts are mixed. UBS, Kotak, Motilal Oswal, and others are optimistic, even raising their target prices. However, JP Morgan is cautious, deeming it ‘Underweight’ with a ₹1,070 target price. Despite influencers touting HCL, the contrarian approach warns against blind optimism. In a nutshell, HCL Tech isn’t a clear ‘buy’ or ‘sell.’ Strong fundamentals clash with revised revenue projections. If considering an investment, tread carefully, acknowledge the risks, and conduct thorough research or seek advice from a reliable consultancy.