India's HCLTech hits four-month high after Q1 results signal demand recovery
** Shares of HCLTech HCLT.NS up ~3% at 1,608 rupees, their highest since mid-March
** HCLT's gains power Nifty 50 .NSEI and IT index .NIFTYIT to record highs
** HCLT reported in-line Q1 rev growth on Friday, while projecting growth in most verticals in upcoming qtrs
** Gradual improvement in revenue growth expected, led by ramping up of recent deals, growing traction in AI-based solutions - Centrum Broking
** Management indicated some positives like stability in high tech, services verticals as well as likely ramp up in BFSI in H2 - Morgan Stanley
** Larger rival TCS TCS.NS reported Q1 results on Thursday which signalled early signs of recovery for IT sector; Infosys INFY.NS to report results on Thursday
** At least 18 analysts raise PT on HCLT, raising median PT to 1,560 rupees from 1,506.50 rupees a month ago, per LSEG
** HCLT among six "hold" rated stocks on 10-member IT index; TCS and INFY rated "buy" - LSEG
** HCLT up around 10% YTD vs 10.4% gains in IT index
Reporting by Kashish Tandon in Bengaluru
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