How HCL Tech defied Indian IT's four-year slump

HCL Technologies Ltd has emerged as the sole bright spark in a four-year sombre stretch for India’s information technology (IT) investors, leveraging a stable leadership and an early pivot toward artificial intelligence (AI) to outpace its Big Five peers.

- Jas Bardia

HCLTech has delivered a 29% return since early 2022.

(MINT)

While the broader IT sector grappled with a post-pandemic hangover and the growing threat of automation, Noida-based HCLTech has delivered a 29% return since early 2022. That performance stands in stark contrast to the rest of the industry’s heavyweights, which have seen billions in market value evaporate as growth visibility dimmed.