Can HCL Tech emerge as the new IT bellwether stock? Investors are watching closely
C Vijayakumar, CEO, HCL Technologies; image credit: HCL via Twitter
Synopsis
The HCL stock has surged 17% over the past 12 months, far outperforming the broader IT index. It appears to be getting rerated on Dalal Street, but some analysts are not buying its acquisition-fuelled, products-driven growth strategy. The management acknowledged that in an exclusive chat with ET Prime, but appears confident about its game plan.
Stock markets are often the first to get the wind of a transformation. And that’s why shares of HCL Technologies have far outperformed the S&P BSE IT index, climbing almost 17% in 12 months. The company has bucked an uncertain macro environment in recent months and expanded its operating margins. A confident management even raised its full-year revenue growth guidance in January after sewing a dozen-odd deals in the last quarter. At this
