Kolkata: HCL Technologies, one of the major Information Technology companies from India and a major exporter, has generated enthusiasm among brokerages despite an overarching uncertainty in the export market led by US President Donald Trump’s tariff whims. Major Indian brokerage Motilal Oswal has expressed measured optimism about this stock in a report this week.

The report states, “deal ramp-ups and wins provide leverage right from 1Q”. It describes the FY26 guidance issued by the company management as “encouraging” and thinks it “pegs HCLT at the top of the growth pyramid”. “The lower end of the guidance (1.2% organic growth) assumes a deterioration in the demand environment, whereas the upper end of the guidance assumes a couple of large deal closures in the pipeline (which should close in 1Q as per management). We believe this guidance is........

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