ICICI Direct has given Hold recommendation for HCL Technologies with a target price of Rs. 1220 in its research report issued on Apr 24, 2022

ICICI Direct’s research report on HCL Technologies

HCL Technologies (HCLT) offers IT, ER&D and products to BFSI, retail, health, telecommunication, manufacturing, media & hi-tech verticals. HCL Tech has 250 Fortune 500 and 650 global 2000 clients • It has grown organically and inorganically (13% CAGR over FY17-22).

Outlook

We maintain HOLD rating. We value HCLT at Rs 1220 i.e. 22x P/E on FY24E EPS.

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