HCLTech shares fell 17% in three days after Q4 results but its leveraged positions surged 400%

Shares of HCLTechnologies Ltd. fell up to 17% over a three-day period between April 22 – April 24, in response to its fourth quarter results that were reported after market hours on April 21. During this same period, the leveraged positions on the stock, have seen a five-fold jump.According to data from the Margin Trading Facility (MTF) book on the National Stock Exchange (NSE), HCLTech stood at 186th position among the most leveraged stocks on the exchanges on April 21, the day it announced its results. Three days later, it stands at 22nd, as per the data.

The value of leveraged positions on HCLTech has increased from ₹148 crore at the close of April 21, to ₹715 crore at the end of the session on Friday, April 24.

Date	HCLTech Stock Move (%)	MTF Positions (₹ Crore)
21-Apr	0.90%	148
22-Apr	-11%	569
23-Apr	-0.60%	648.1
24-Apr	-6%	715

Similar to HCLTech, Infosys has also seen a sharp increase in leveraged positions two days before its results and a day after as well. What stood at ₹833 crore as of closing on April 21, increased to ₹1,383 crore at the close of Friday’s trade on April 24. Infosys shares had declined 7% on Friday after its quarterly results that were reported after market hours on Thursday evening.
HCLTech’s shares saw a sharp fall after its results were a miss compared to street expectations. The company has guided for constant currency revenue growth in financial year 2027 to be between 1% to 4%, while the street consensus was for a wider and higher range.The company’s constant currency growth was also down 3.3%, worse than expectations of a 1% drop.

HCLTech’s results and guidance prompted analysts to cut their price targets on the stock, as well as downgrade their recommendations.

48 analysts have coverage on HCLTech, of which 16 each have a “buy” and “hold” rating on the stock, while 15 have a “sell” rating.

Shares of HCLTech ended 2% higher on Monday, snapping a three-day losing streak as IT stocks saw a small rebound from lower levels. The stock trades little changed on Tuesday.