LKP Research Recommends 'BUY' on HCL Technologies with Rs 1900 Target

• HCL Technologies reported strong Q3FY26 revenue growth of 4.2% QoQ / 4.8% YoY in constant currency, reaching Rs. 338 billion.
• The software segment saw a significant revival with 28% QoQ / 3.1% YoY constant currency growth.
• Services segment maintained steady performance, supported by Advanced AI portfolio revenue of USD 146 million, up 19.9% QoQ.
• New deal Total Contract Value (TCV) was robust at USD 3 billion, including a USD 473 million strategic engagement.
• LKP Research assigns a 'BUY' rating to HCL Technologies with a target price of Rs 1,900, valuing the stock at 22x FY28E EPS.

Why It Matters: LKP Research recommends buying HCL Technologies due to strong growth and deal wins, setting a target of Rs 1900.