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HCLTech Shares Downgraded To 'Reduce' By Dolat Capital Post Muted Q1 Results — Check Target Price
While raising revenue guidance adds comfort despite Q1 miss, the downward revision in OPM will lead to near-term earnings pressure, adds Dolat Capital
15 Jul 2025, 08:32 AM IST 
HCLTech's revenue stood at $3,545 million, down 0.8% QoQ in CC terms and up 1.3% in USD terms. (Photo Source: Company)
HCLTech narrowed its overall (along with IT Services) FY26 revenue guidance to 3-5% CC growth, from 2-5% CC growth earlier. Growth confidence is supported by existing order book visibility and healthy conversions (tariff related disruption less than anticipated), strategic partnerships, and new deal wins.
