Time period given by analyst is one year when HCL Technologies Ltd. price can reach defined target.
HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 265681.38 Crore) operating in IT Software sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 20323.00 Crore, up 2.20 % from last quarter Total Income of Rs 19885.00 Crore and up 12.05 % from last year same quarter Total Income of Rs 18137.00 Crore. Company reported net profit after tax of Rs 3213.00 Crore in latest quarter.
Investment Rationale
Given its deep capabilities in the IMS space and strategic partnerships, investments in Cloud, and Digital capabilities, the brokerage expects HCLT to emerge stronger on the back of an expected increase in enterprise demand for these services. The stock is currently trading ~17x FY23E earnings, which offers a margin of safety. Its TP is based on 20x FY23E EPS.
Promoter/FII Holdings
Promoters held 60.3 per cent stake in the company as of March 31, 2021, while FIIs held 24.1 per cent, DIIs 10.6 per cent and public & others 5 per cent.
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