HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 266712.57 Crore) operating in IT Software sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 19491.00 Crore, up 3.71 % from last quarter Total Income of Rs 18793.00 Crore and up 6.55 % from last year same quarter Total Income of Rs 18292.00 Crore. Company reported net profit after tax of Rs 3977.00 Crore in latest quarter.
Investment Rationale
The stock has made a lifetime high near Rs 1060 in January 2021. Since then, it has been largely range bound between around Rs 900-970. It failed to sustain above Rs 970 despite a couple of attempts in the past week. However, recently, the stock has taken support of lower band level of Rs 900 and is now witnessing fresh buying momentum. It believes upsides may continue in the stock. The brokerage feels the stock may surpass its January highs in coming weeks
Promoter/FII Holdings
Promoters held 60.3 per cent stake in the company as of June 30, 2020, while FIIs held 25.6 per cent, DIIs held 10.1 and public and others 4 per cent.
