HCL valuation's a touchy point
Mint Kolkata
|January 15, 2025
Persisting trend?
CL Technologies Ltd faced the Street's wrath after its December quarter (Q3FY25) earnings, which had nasty surprises. Ahead of the Q3 announcement, HCL stock hit a 52-week high of ₹2,012 on Monday, but it tanked around 8% on Tuesday.
Sequential constant-currency (CC) revenue growth of 3.8% was below consensus estimate of 4.2%, dragged by weaker-than-anticipated performance of the software business due to delays in deal closures and renewals. However, services business growth was better despite furloughs and seasonality.
This swift fall in the stock price indicates that Street's expectations were elevated to begin with. Muted equity market sentiment may have accentuated the pain for HCL stock.
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