Stock Performance and Market Context
On 3 Feb 2026, HCL Technologies Ltd (Stock ID: 308453) surged to an intraday peak of Rs.1770, representing a 5.6% increase from the previous close. The stock opened with a gap up of 4.46%, signalling strong buying interest early in the trading session. Over the past two days, the stock has recorded consecutive gains, delivering a cumulative return of 2.53% during this period. The day’s closing price reflected a 2.09% increase, aligning closely with the sector’s overall performance.
HCL Technologies is currently trading above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, underscoring the strength of its upward trend. This technical positioning supports the stock’s recent rally and highlights sustained investor confidence in its price trajectory.
Dividend Yield and Valuation Metrics
The stock offers a high dividend yield of 3.22% at the current price level, which adds an attractive income component for shareholders. Despite its premium valuation, with a Price to Book Value ratio of 6.4, HCL Technologies maintains a strong fundamental profile that supports its market valuation.
Fundamental Strength and Financial Highlights
HCL Technologies continues to demonstrate robust long-term fundamentals. The company’s average Return on Equity (ROE) stands at 22.67%, reflecting efficient capital utilisation and profitability. Net sales have grown at an annual rate of 11.21%, indicating healthy top-line expansion. The company maintains a low average Debt to Equity ratio of zero, highlighting a conservative capital structure.
Recent quarterly results reinforce this strength, with net sales reaching a record Rs.33,872 crore and PBDIT hitting an all-time high of Rs.7,412 crore. Additionally, cash and cash equivalents at the half-year mark stood at Rs.23,748 crore, providing ample liquidity and financial flexibility.
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Comparative Market Performance
Over the past year, HCL Technologies has delivered a modest return of 1.22%, which trails the Sensex’s 8.91% gain over the same period. The Sensex itself experienced volatility on the day, opening with a gap up of 3,656.74 points but later retreating by 1,325.67 points to close at 83,997.53, approximately 2.57% below its own 52-week high of 86,159.02. The index is currently trading below its 50-day moving average, though the 50-day remains above the 200-day average, signalling a mixed technical outlook for the broader market.
Within this environment, mega-cap stocks have led the market’s gains, with HCL Technologies’ sector, Computers - Software & Consulting, performing in line with the stock’s positive momentum.
Valuation and Risk Considerations
While the company’s fundamentals are strong, certain valuation metrics suggest a premium pricing relative to peers. The stock’s PEG ratio stands at 26.5, reflecting elevated expectations embedded in the current price. Profit growth over the past year has been modest at 0.6%, which contrasts with the stock’s price appreciation and highlights the importance of monitoring valuation levels alongside earnings trends.
HCL Technologies’ ROE of 23.8% remains impressive, but the elevated Price to Book ratio indicates that investors are paying a premium for this profitability and growth stability.
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Historical Price Range and Momentum
The stock’s 52-week low stands at Rs.1304, highlighting the significant appreciation to the current high of Rs.1770. This represents a gain of approximately 35.7% from the low point within the last year. The recent price momentum is supported by the stock’s consistent trading above all major moving averages, which often signals sustained investor confidence and technical strength.
HCL Technologies’ Mojo Score of 72.0 and a current Mojo Grade of Buy, upgraded from Strong Buy on 1 Feb 2026, reflect a positive reassessment of the stock’s prospects based on MarketsMojo’s comprehensive evaluation framework. The company ranks among the top 1% of all 4,000 stocks rated by MarketsMojo, underscoring its standing as a high-quality stock within the Indian equity universe.
Sector and Industry Positioning
Operating within the Computers - Software & Consulting sector, HCL Technologies benefits from a growing demand for IT services and digital transformation initiatives. The sector’s performance today was in line with the stock’s gains, reinforcing the company’s role as a key player in this space. The sector’s overall momentum contributes to the positive sentiment surrounding HCL Technologies’ share price.
Summary of Key Metrics
To summarise, HCL Technologies Ltd’s recent achievement of a new 52-week high at Rs.1770 is supported by:
- Strong quarterly financials with record net sales and PBDIT
- Robust long-term fundamentals including a 22.67% average ROE and zero average debt
- Consistent trading above all major moving averages
- High dividend yield of 3.22%
- Positive momentum with consecutive gains and a gap up opening
- Recognition as a top-rated stock by MarketsMojo with a Mojo Score of 72.0
These factors collectively underpin the stock’s recent price strength and its milestone achievement in the market.
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