with a positive note just on the dividend payout.
HCL Technologies’ September quarter results were rather lacklustre, with revenues growing 5.9 per cent sequentially, much lower than industry growth rates and the 14 per cent growth it had managed in the June quarter.
The software services business grew 6 per cent sequentially, with the organic side of the business growing at a lower rate of 4.7 per cent.
On the positive side, HCL Tech paid an interim dividend of Rs 4 per share, which is expected to be maintained. With a dividend yield of 4.34 per cent, downside for the stock is rather limited.
Read more here (towards the bottom of the page).