ICICI Direct has given Buy recommendation for eClerx Services with a target price of Rs. 1680 in its research report issued on Sep 21, 2022

ICICI Direct’s research report on eClerx Services

eClerx Services (eClerx) provides business process management, automation and analytics services. It caters to financial services, communications, retail, media, manufacturing, travel and technology companies • OCF to EBITDA of >80%, debt free and RoCE of >20%.


Hence, we revise our target price to Rs 1,680/share post this corporate action. We maintain our BUY rating on the stock and value eClerx based on 16x P/E on FY24 EPS.

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