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HCLTech shares extend sell-off after Q4 results, set for worst week in nearly 20 yearsBrokerages issued downgrades and cut their price targets on HCLTech after its results miss. The miss from the company has resulted in a steep sell-off in its other IT peers, which was accelerated after Infosys reported for the quarter as well on Thursday evening. By Shloka Badkar   April 24, 2026, 2:39:00 PM IST (Published)2 Min ReadShares of HCLTech Ltd. extended their losses for the third straight-day on Friday, April 24, as they declined over 6%, hitting another 52-week low for the second time this week.

The stock has traded with losses in six out of the last seven trading sessions. It has declined 16.5% in the past week.

This is also HCLTech's biggest weekly loss since December 2008, when the stock had declined 20% in a week. Prior to it, the stock had fallen 17.9% in a week in October 2008 and 16.9% in a week in September 2003.

Earlier this week, HCLTech reported its earnings for the fourth quarter, missing estimates on key metrics.

It guided for a weaker-than-expected FY27, and has pegged revenue growth at 1%-4% in constant currency, which was below Street estimates of 2%-6%.

The IT major's services revenue growth is projected to be between 1.5%-4.5% compared to estimates of around 2%-5%. It has also guided for EBIT margin to be in the 17.5%-18.5% range, which is broadly in-line with a previous brokerage estimate of 17%-19%.

Its constant currency revenue was down 3.3% from the earlier quarter, steeper than the estimated 1% drop.

On Wednesday, HCLTech CEO and MD C Vijayakumar said the near-term outlook reflects continued softness in discretionary spending as well as client-specific delays, with the FY27 growth guidance at 1%-4%.

He expects growth to improve due to the scale up of AI-led services, with advanced AI revenues estimated to increase 25-30% from the previous year and contribute around 20% of the company's overall revenue over the next three to four years.

HCLTech is also prioritising long-term value over low-margin deals. It is even walking away from more than $1 billion in bookings, while positioning for AI-driven, outcome-based services.

Brokerages issued downgrades and cut their price targets on HCLTech after its results miss. The miss from the company has resulted in a steep sell-off in its other IT peers, which was accelerated after Infosys reported for the quarter as well on Thursday evening.

HCLTech shares declined 6.2% to hit an intraday low of ₹1,198.1 apiece on Friday. The stock has declined 12.4% in the past month and 26.3% this year, so far.

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