India's HCLTech gains; Morgan Stanley upbeat on deal with Swedish firm

HCLTech HCLT.NS rises as much as 1% to 1,444 rupees; last up 0.6%

HCLT only stock in green on 10-member Nifty IT index .NIFTYIT, which is down 0.9%

A Swedish truck and bus maker renews deal with co, signing multi-year contract for IT infrastructure, services

No financial details disclosed

Morgan Stanley says deal will likely aid co's total contract wins in Q2, boost confidence for HY2 FY26, build revenues on top of co's existing base

Adds deal reaffirms co's ability to maintain scope in large deal renewals, signals improvement in co's market share

Stock rated "hold" on avg, median PT is 1,670 rupees, per data compiled by LSEG

YTD, HCLT falls ~25%