Profit

BSE Code: | NSE Code: | ISIN: | Sector:

NSE
1005.25
Change Change %
8.15 0.82%

Updated:15 Nov, 2018, 13:59 PM IST

BSE
1005.35
Change Change %
8.95 0.90%

Updated:15 Nov, 2018, 13:53 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Reliance Securities
N/A
04-09-2017 Buy 859.30 985.00
N/A
Target Hit Long (1Y)
04-09-2018

Reliance Securities maintains buy on HCL Technologies

HCL Technologies' revenue rose by a strong 3.7% QoQ (2.6% QoQ in CC terms) in 1QFY18, mainly led by Engineering Services ( 8.8% QoQ, 7.9% in CC terms). A positive sign was reiteration of management guidance by and large, with the company expecting CC revenue to grow by at 10.5-12.5%, and pegging EBIT margin at 19.5-20.5% range. On the deal front, HCLT has consistently won US$1bn worth of new deals over the past several quarters, which offers a good revenue visibility. We expect ramp-up of these deals to provide the required impetus to sustain double-digit above-industry revenue growth over FY18E-FY19E. We expect HCLT to report 11.6% USD revenue CAGR over FY17-FY19E.

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