BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Closed|| Long (1Y)
Nirmal Bang maintains sell on HCL Technologies
Nirmal Bang has maintained its "sell" rating on HCL Technologies for a target price of Rs 718. Our rating on HCLT is based on the view that IT sector's revenue growth and P/E multiple are likely to contract in the base-case scenario that we have assumed for the US economy in 2016 and 2017. The 11.5 times target P/E multiple for HCLT is based on 20 per cent discount to TCS' and Infosys' target P/E multiple of 14.4 times.