HCL Tech Stock Dips Over 2% Post Q3 Results; Brokerages Flag Limited Near-Term Upside

• HCL Technologies shares fell over 2% after its Q3 FY26 results, extending losses in late morning trade.
• The stock traded 2.37% lower at Rs 1,628, underperforming a firmer broader market.
• Brokerages acknowledged strong Q3 delivery, robust deal wins, and stable margins, but remained cautious.
• Citi maintained a 'Neutral' rating, citing strong forward indicators but limited valuation upside.
• Nomura issued a 'Buy' rating with a target of Rs 1,810, confident in HCL Tech's AI-led growth strategy.

Why It Matters: HCL Tech stock fell post Q3 results as brokerages, despite strong performance, see limited near-term upside.