HCL Technologies Limited (NSE: HCLTECH) announced its Q2 FY27 results, showcasing a robust performance with revenue of ₹35,620 crores, marking a 3.0% increase QoQ and 11.5% YoY growth. The company’s superior revenue growth and improved profitability led to its highest-ever quarterly Net Income of INR 5,132 crores, up 11.0% QoQ and 21.2% YoY.

Advanced AI Revenue Surge

The accelerating growth in Advanced AI revenue, up 28.4% QoQ and 78.0% YoY in constant currency, validates HCLTech’s business strategy. The company’s AI propositions are resonating well with clients, giving confidence in its growth trajectory.

Financial Highlights

HCLTech’s EBIT margin expanded 131 bps QoQ to 18.2%, while the Services segment grew 3.0% QoQ with growth across verticals and geographies. The company’s focus on improving capital efficiency resulted in LTM ROIC of 41.2% for the company, up 261 bps YoY; and 49.4% for the Services business, up 411 bps YoY respectively.

As we look ahead, HCLTech remains well-positioned to drive growth and deliver value to our shareholders, with a strong pipeline of opportunities and a commitment to innovation and excellence.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of HCL Technologies Limited

HCL Technologies Limited belongs to the Technology › Information Technology Services sector. Here’s a quick read on where the business and the stock stand today.

HCL drops 19.6% over three months and trades near its 52-week lows. The PEG stands at 4.64 — severely stretched. Any earnings miss could trigger a sharp de-rating. D/E stands at 0.09 with a 7.86% dividend yield. Furthermore, the business records zero revenue dips and zero loss quarters in five years — a fortress balance sheet. The stock gains 5.2% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 8.7% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of HCL Technologies Limited.

Persistent Systems Limited (PERSISTENT) has successfully concluded its Voluntary Public Takeover Offer for all outstanding shares of Nagarro SE, securing approximately 94.04% of Nagarro’s share capital and voting rights, significantly surpassing the required minimum acceptance threshold of 50% plus one share.

Successful Takeover Offer

Galaxy Germany Holding SE, a wholly-owned direct subsidiary of Persistent Systems Limited, announced the final results of the offer following the expiry of the statutory additional acceptance period. During this period, an additional 1,335,114 Nagarro shares were tendered into the offer, bringing the total tendered shares to 8,903,259, representing approximately 71.94% of Nagarro’s share capital and voting rights. Combined with the 22.10% stake already secured by Persistent, the total secured stake is approximately 94.04%.

Next Steps and Future Plans

Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent Systems Limited, stated, “The final results of our offer for Nagarro are a clear endorsement of the strategic logic behind bringing Persistent and Nagarro together. We now look forward to completing the remaining steps toward closing.” Persistent plans to initiate a squeeze-out of the remaining minority shareholders of Nagarro upon closing, although no final decision has been made yet.

Expected Transaction Closure

The transaction is anticipated to close by the end of Q1 CY27, pending only a limited number of outstanding regulatory approvals. Persistent will provide further details on the specific measures to be taken in due course. This strategic move aims to build a global AI-led digital engineering player, as envisioned by Persistent.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Persistent Systems Limited

Persistent Systems Limited belongs to the Technology › Information Technology Services sector. Here’s a quick read on where the business and the stock stand today.

Persistent rises 14.2% over three months, with buying pressure holding steady. Revenue grows at 20.9% and profits at 26.5% CAGR. Both numbers are exceptional. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock holds at 65% of its 52-week range with RSI at 63. In other words, neither side has a clear edge right now. The business grows revenue at 20.9% and profits at 26.5%, with D/E of 0.05. The stock reflects that strength. Moreover, when fundamentals and price action align, the PEG of 1.78 premium is usually justified. Check Fundamentals of Persistent Systems Limited.

Tata Consultancy Services (TCS) reported its consolidated financial results for the quarter ending September 30, 2026, highlighting significant strategic wins and robust international growth. The company’s revenue for Q2 FY27 stood at ₹73,188 crore, marking a +1.3% QoQ and +11.2% YoY growth in INR. International revenue grew by 1.2% QoQ in Constant Currency. Notably, TCS’s annualized AI revenue crossed $3 billion, representing 10% of its total revenue.

Strategic Partnerships and Acquisitions

TCS announced two unique deals that represent a new category of transformation partnerships. The company signed a five-year strategic partnership with Porsche AG, establishing a dedicated AI Mobility Centre of Excellence for Porsche. Additionally, TCS will acquire MHP, Porsche’s Germany-based management and IT consulting subsidiary. The agreement to transition Best Buy’s Global Capability Center (GCC) in India to TCS, transforming it into an AI Capability Center (AICC), was also announced.

Industry Segments and Regional Performance

BFSI, Manufacturing, and Technology & Services led the growth, with respective Q-o-Q CC growth rates of +2.5%, +3.1%, and +3.1%. The Americas, particularly North America, showed a 0.4% QoQ CC growth, while Europe, especially the UK, exhibited a robust 3.5% QoQ CC growth.

As a result, TCS continues to strengthen its capabilities through acquisitions, partnerships, and investments in niche talent, maintaining strong cash conversion and industry-leading profitability.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Tata Consultancy Services Limited

Tata Consultancy Services Limited belongs to the Technology › Information Technology Services sector. Here’s a quick read on where the business and the stock stand today.

Tata posts a 1.5% three-month gain, but softens in the last few weeks. D/E sits at 0.10 with a 3.10% dividend and unbroken revenue growth. Financial stability is a genuine strength. The PEG of 2.85 is on the high side. However, it is acceptable for a quality compounder with a strong moat. The stock gives back 8.4% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 5.8% and profits at 5.3%, and the dividend yield stands at 3.10%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of Tata Consultancy Services Limited.