HCL Tech trails bigger peers despite strong third quarter
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livemint said that The shares of HCL Technologies Ltd have been weak this results season relative to those of other top-tier IT stocks. The reason simply is that HCL has lagged larger peers such as Tata Consultancy Services Ltd and Infosys Ltd on growth. These two companies reported sequential growth of 4.1% and 5.3%, respectively, in constant currency, while HCL’s growth was lower at 3.5%.
“HCL hasn’t beaten estimates to the same extent some of its peers have. Also, there is a small one-off benefit in revenues and margins, which makes the company’s performance more average when compared to peers,” said an analyst at a domestic institutional brokerage. What’s more, the guidance for the March quarter was unexciting.
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