{"id":307648,"date":"2026-10-14T12:42:50","date_gmt":"2026-10-14T07:12:50","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=307648"},"modified":"2026-10-14T12:42:50","modified_gmt":"2026-10-14T07:12:50","slug":"hcl-tech-q2-results-brings-cheer-will-premium-valuations-limit-upside-brokerage-targets-guidance-ai-revenue-dividend","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/hcl-tech-q2-results-brings-cheer-will-premium-valuations-limit-upside-brokerage-targets-guidance-ai-revenue-dividend\/","title":{"rendered":"HCL Tech Q2 Results Bring Cheer: Will Premium Valuations Limit Upside?"},"content":{"rendered":"

HCL Tech Q2 results (12 Oct 2026): net profit Rs 5,132 crore (+21.2%), revenue Rs 35,620 crore (+11.5%), operating margin 18.2%. FY27 revenue guidance raised to 2.5% to 4%. Interim dividend Rs 12, record date 16 Oct. Shares about Rs 1,277 on 13 Oct (+4.4%). Brokerage targets range from Rs 1,094 to Rs 1,515.<\/em><\/p>\n

\n

Quick Answer<\/strong><\/p>\n

The HCL Tech Q2 results showed net profit up 21.2% to Rs 5,132 crore and revenue up 11.5% to Rs 35,620 crore, and the company raised the low end of FY27 revenue guidance to 2.5% to 4% from 1% to 4%. The HCL Tech share price rose about 4% to 5% on 13 October 2026 to around Rs 1,277, but brokerage targets are split, ranging from Rs 1,094 (CLSA) to Rs 1,515 (Centrum), and the average of the seven targets I found is about Rs 1,266, slightly below the price (my calculation). That supports the headline concern that premium valuations may limit upside, with HSBC and 360 One pointing to a premium over peers of 15% to 20%. A rise in AI revenue and a $1.14 billion Mercedes-Benz deal are the strengths, while a weaker software segment and doubts about how long the demand recovery will last are the main concerns.<\/p>\n<\/p><\/div>\n

The HCL Tech Q2 results came after market hours on 12 October. HCLTech and TCS have both reported, while Infosys and Wipro are yet to, and the results helped the Nifty IT index rise as much as 3% on 13 October.<\/p>\n

This guide explains the HCL Tech Q2 results, guidance, AI revenue, deal wins, the dividend, the brokerage targets and the valuation concern. Where I calculate a figure myself, I label it.<\/p>\n

Good results do not always leave room for further gains, so the price matters as much as the numbers.<\/p>\n

Click Here – Get Free Investment Predictions<\/a><\/strong><\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n