HCL Tech Plunges 10% as Q4 Growth Concerns Wipe Out ₹46,987 Crore in Market Value

HCL Technologies shares witnessed their steepest fall in over nine years, plummeting nearly 10% to Rs 1,798.40 on Tuesday after Q3 results failed to impress investors. Despite raising FY25 revenue guidance to 4.5-5%, the company's projection of weak Q4 growth due to project completions and planned ramp-downs triggered the selloff. The stock emerged as the biggest laggard among BSE Sensex and NSE Nifty firms, erasing Rs 46,987 crore in market capitalization. Multiple brokerages downgraded the stock citing rich valuations and concerns over discretionary spending slowdown.

Source: Business Standard