JP Morgan puts HCL on ‘negative catalyst watch’ ahead of Q4 results

BENGALURU: J.P.Morgan on Tuesday placed Indian IT services provider HCL Technologies Ltd on “negative catalyst watch” ahead of the earnings season, citing the highest near-term risks for the company.

“We remain cautious on the IT sector as we see downside risks to earnings and multiples from the weak fourth quarter prints and FY24 guidance,” the brokerage said in a note.