HCL Tech dips 6% in 2 days, hits 52-week low ahead of June quarter results

Analysts expect Ebit to contract sequentially due to increase in retention costs as well as higher travel costs

Shares of HCL Technologies hit a 52-week low of Rs 927.10, down nearly 2 per cent on the BSE in Tuesday’s intra-day trade, thus falling 6 per cent in two trading sessions, ahead of its April-June quarter (Q1FY23) results due later in the day.

In the past three months, HCL Technologies has underperformed the market by falling 18 per cent, as compared to a 7.5 per cent decline in the S&P BSE Sensex. Further, in six months, the stock has dipped 31 per cent as against a 11 per cent fall in the benchmark index.

Analysts expect HCL