ANIMost analysts tracking HCL Technologies cut their earnings estimates and price targets after India's third largest IT services company saw a marginal decline in revenue and lower (single-digit) revenue guidance for the current financial year.
Shares of HCL Technologies advanced 1.1% on the NSE to close Friday's session at ₹1,048.95. The stock surged a little more than 3.5% during the day. More than 80 lakh shares exchanged hands on the BSE and NSE, up nearly 3 times its combined average daily volume over the last one month.
Morgan Stanley cut the target price citing the company missed revenue growth and margin expectations, and its fiscal 2024 guidance is aggressive.
JP Morgan has an underweight rating on the stock and remains the most bearish of all the brokerages.
Shares of HCL Technologies advanced 1.1% on the NSE to close Friday's session at ₹1,048.95. The stock surged a little more than 3.5% during the day. More than 80 lakh shares exchanged hands on the BSE and NSE, up nearly 3 times its combined average daily volume over the last one month.
Morgan Stanley cut the target price citing the company missed revenue growth and margin expectations, and its fiscal 2024 guidance is aggressive.
JP Morgan has an underweight rating on the stock and remains the most bearish of all the brokerages.
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