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What am I doing with this consistent compounder IT stock after bearish FY 24 guidance
What is the fuss?
HCL Technologies (HCLTECH), one of the top largecap IT companies, announced its Q4 FY 23 results on 20th Apr, 2023. Finally, this largecap is showing signs of slowdown, with a downward revenue growth guidance in FY 2024 (Apr’23 to Mar’24). In this post, I cover the main takeaways from Q4 FY 23 results, and share my views on what to do with this stock in FY 24.
HCL Tech — Company Overview
Wealth Generation for Investors: HCL Tech is a slow, consistent compounder in the IT sector. It has compounded investors wealth at an CAGR of 19%, over the past 10 years. This means doubling your money every 4 years. Not bad, not bad at all.
On top of this, the company’s doles out handsome dividends, which is north of 4% of its stock price. This makes it the highest dividend yield stock of the Indian IT sector.
