HCL Tech Q2 results tick most boxes. Will it drive stock re-rating?

NEW DELHI: IT major HCL Technologies’ impressive show in Q2 has turned Dalal Street investors bullish on the IT stock that is down around 28% from its 52-week high. A majority of brokerages have increased their target prices on HCL citing recovery in margins, FY23 revenue growth guidance and attractive risk-reward ratio.