HCL Tech slips 2% on profit booking post September quarter results

With today's decline, the stock has now corrected 11 per cent from its record high level of Rs 1,377 touched on September 24, 2021

Shares of HCL Technologies (HCL Tech) were down 2 per cent at Rs 1,225 on profit booking on the BSE on Monday in an otherwise strong market after the management reiterated its guidance of double-digit USD revenue growth and 19-21 per cent earnings before interest tax (EBIT) margin for FY22, although it lowered its Products and Platforms (P&P) growth to 0-1 per cent from low-single digits.

HCL Tech announced a payout policy, which fixes payouts at minimum 75 per cent of net Income cumulatively over the next five years i.e FY22- 26. In line with this policy, the company