Geojit has given Buy recommendation for HCL Technologies with a target price of Rs. 1454 in its research report issued on Oct 20, 2021

Geojit’s research report on HCL Technologies

HCL Technologies Limited provides software development business process outsourcing, information technology and infrastructure services. The company is spread across 49 countries with 170,000+ employees and its client base, including 250 of the fortune 500 companies. Consolidated revenue rose 11.1% YoY, on the back of continued strong demand-driven growth seen in IT & Business and Engineering & R&D Services segments.

Outlook

Though margins remain under pressure in the near-term, we continue to maintain a positive long-term outlook and hereby retain our BUY rating on the stock with a revised TP of Rs. 1,454 based on 25x FY23E adj. EPS.

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