HCLTech’s shares leapt 2.28% to ₹1,622.8 on Thursday, riding a 2.28% rise in the Nifty IT index to 30,858. The jump followed the company’s September‑quarter profit beat, with net earnings hitting ₹5,132 crore, a 21.2% YoY increase.
The firm posted revenue of ₹35,620 crore, up 11.5% YoY, narrowly missing the ₹36,000 crore consensus. EBIT margin expanded to 18.2%, up 13 basis points sequentially, and AI‑driven revenue surged 78% YoY to $219 million. HCLTech also added 6,450 employees, its largest quarterly hire in 16 quarters.
TCS, which released results a week earlier, posted net profit of ₹13,884 crore, a 4.2% YoY rise, while revenue climbed 1.3% sequentially to ₹73,188 crore. Constant‑currency growth of 0.5% fell short of the 0.6% estimate, yet the company’s AI revenue crossed $3 billion and won $9.6 billion in deals.
The IT rally came amid a tumble in Asian chip makers, with CoreWeave and SK Hynix stocks plummeting 15% and 60% respectively, as debt‑repayment concerns surfaced. This rotation into IT stocks helped lift the Nifty IT index, while the broader Nifty 50 edged 0.6% higher.
Ahead of its FY27 guidance, HCLTech lifted revenue growth to 2.5‑4% in constant currency, keeping operating margin outlook at 17.5‑18.5%. Investors now eye Tech Mahindra and Wipro, slated to report Q2FY27 earnings later today, and analysts expect the IT sector to maintain its 7% average return trend into 2027.