India's HCLTech in red for 2024, but among 3 IT firms still positive on total returns basis

** HCLTech HCLTECH slides 5.6% on disappointing results and forecast, swinging to YTD losses of 5.1%

** However, HCLT still up 1.3% YTD on a total returns basis, which includes reinvested dividend

** HCLT has highest div yield, 3.53%, among 10-member Nifty IT CNXIT index; next highest is Infosys INFY1! at 2.66%

** Market leader TCS TCS up 2.3% on just stock gains and up 1.4% on total returns basis

** Tech Mahindra's TECHM post-earnings rally takes stock 2.5% higher for 2024 and up 0.5% on total returns basis

** Other 7 IT firms in the red YTD on both measures; LTIMindtree LTIM worst on both counts (down ~24%-25%)

** Analysts still fairly bullish on HCLT; mean rating remains equivalent of 'hold', same as 7 other stocks -LSEG data

** And 25 PT cuts reduces mean PT by only 4%