Market experts noted that despite delivering a solid financial performance driven by a sharp uptick in deal wins, TCS and HCL Tech faced pressure due to higher expectations on the Street

In a knee-jerk reaction to its quarter earnings for the December 2024 quarter, Shares of HCL Technologies Ltd cracked more than 9 per cent during the trading session on Tuesday.

Shares of IT giant HCL Tech tumbled by nearly 9% following disappointing Q3 earnings that failed to meet investor expectations. Despite a rise in revenue and profit, the stock became the biggest laggard among BSE Sensex and NSE Nifty.

HCL Tech shares drop 9% due to mixed earnings, revenue guidance concerns, and valuation issues. Learn more about the market impact.

HCL Technologies shares slipped 6.5% after reporting a 6% net profit growth and 5% revenue increase for Q3 FY24. New deal wins totaled $2.1 billion. Analysts have varied recommendations, with some maintaining 'Buy' and others downgrading to 'Hold'.