Shares of HCL Technologies plunged by more than 8% on Tuesday following the company’s earnings report for the third quarter of FY25. The stock fell as much as 8.46% to ₹1,817.20 on the BSE, as investors reacted to a performance that came in slightly below expectations. For the quarter ending December 2024, HCL Technologies reported a net profit of ₹4,591 crore, reflecting an 8.4% rise compared to the previous quarter. Revenue increased by 3.6% to ₹29,890 crore from ₹28,862 crore sequentially. However, the company’s guidance for the full fiscal year was adjusted downward, with revenue growth expectations for FY25 now narrowed to 4.5%-5%, compared to the previous range of 3.5%-5%. Despite solid operating performance, with EBIT rising by 8.6% to ₹5,821 crore and a marginal improvement in EBIT margin to 19.6%, market sentiment turned negative. Analysts pointed out that the company’s quarterly revenue growth of 3.8% in constant currency terms was lower than the expected 4.2%. Despite the recent drop, analysts see this as a potential buying opportunity, with HCL Tech’s stock price finding a strong base around ₹1,710. Sumeet Bagadia from Choice Broking recommended using this dip to accumulate shares, setting a short-term target of ₹1,900-₹1,950, contingent on a trend reversal. At morning, HCL Technologies shares were trading at ₹1,823.55, reflecting an 8.15% drop on the day. The stock has fallen over 5% in January, but it has gained more than 17% over the past year, outpacing the broader market’s performance.