American Depositary Receipts (ADRs) of Indian IT companies rallied on Monday, with Infosys climbing nearly 4% and Wipro gaining 1.6%, as investors cheered HCLTech’s record deal bookings and better-than-expected June quarter results.
Infosys ADR as of 9:51 am EDT was trading 3.7% higher at $11.35, while Wipro ADR was up 1.6% at $1.9. The gains came after HCL Technologies reported its highest-ever quarterly deal wins, reinforcing optimism around demand for large technology outsourcing contracts despite an uncertain macroeconomic environment.
Speaking after the results, HCLTech CEO C Vijayakumar said the company witnessed robust client bookings during the April-June quarter.
“From a booking perspective, first quarter saw strong bookings. The Q1 quarter marks the highest-ever deal win,” Vijayakumar said.
HCL Technologies reported a standalone net profit of Rs 4,624 crore for the April-June quarter of FY27, up 3% sequentially. Revenue from operations rose 1.8% to Rs 34,579 crore.
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The company outperformed Bloomberg consensus estimates, which had projected a net profit of Rs 4,529 crore on revenue of Rs 34,326 crore.
Earnings before interest and tax (EBIT) increased 3.8% quarter-on-quarter to Rs 5,831 crore from Rs 5,620 crore in the March quarter.
HCLTech Q1 Result Highlights (Cons, QoQ)
- Net Profit rises 3% at Rs 4,624 crore versus Rs 4,488 crore.
- Revenue rises 1.8% at Rs 34,579 crore versus Rs 33,981 crore.
- EBIT rises 3.8% at Rs 5,831 crore versus Rs 5,620 crore.
- EBIT Margin at 16.9% versus 16.5%.
HCLTech also declared an interim dividend of Rs 12 per equity share of face value Rs 2 for fiscal year 2027.
The strong deal pipeline and earnings performance helped lift sentiment across the Indian IT sector, with investors betting that healthy order inflows at HCLTech could signal resilient technology spending and support growth prospects for other large-cap software exporters, including Infosys and Wipro.
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