Shares of IT services major HCL Technologies (HCLTech) on Tuesday climbed over 1 per cent to hit the 52-week high after the firm reported a 10.51 per cent increase in consolidated net profit in the September quarter of FY25.

Sharekhan is bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 2120 in its research report dated October 14, 2024.

HCL Technologies' shares are set to stay in focus after reporting strong Q2FY25 results, with a 10.5% rise in net profit to Rs 4,235 crore and an 8.2% revenue increase to Rs 28,862 crore. An interim dividend of Rs 12 per share was declared,

Bengaluru: India’s third largest IT service provider HCL Tech posted a 11per cent rise in its net profit at Rs 4,235 crore in the July-September quarter (Q2FY25), beating analyst estimates. However, the bottomline saw a slight dip of 0.5 per cent on a sequential basis. Revenue stood at Rs 28,862 crores, up 8.2 per cent year-on-year.

HCL Tech (CMP: Rs 1,856, Market Cap: Rs 503,629 crore, Rating: Overweight) surprised positively on multiple fronts in its quarterly earnings report with a good growth in revenue, a beat on margin,

Ahead of the quarterly results, shares of HCL Tech were trading 0.89 per cent higher at Rs 1,855.90 on BSE. The stock is up 25.21 per cent in 2024 so far against a 13.41 per cent rise in the BSE Sensex during the same period.

HCL Technologies shares surged over 1% to a 52-week high on Tuesday after the company reported a strong Q2 FY25 performance, with net profit increasing by 10.51%.

In the second quarter, the companys IT services are expected to grow, owing to a revival in demand for BFSI. Margins are also likely to expand, while HCL Tech is expected to retain its FY25 guidance.

HCL Tech's Q2 FY25 results are to be announced, with revenue growth expected between 7-9% YoY. Broking firms predict revenue figures between Rs 26,672 crore and Rs 28,710 crore. Net profit estimates range from Rs 3,