ICICI Direct has given Buy recommendation for HCL Technologies recommended buy rating on the stock with a target price of Rs 1115 in its research rep with a target price of Rs. 1115 in its research report issued on Oct 13, 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 change our rating on the stock from HOLD to BUY. We value HCLT at Rs 1115 i.e. 18x P/E on FY25E EPS.
More Info
At 17:30 HCL Technologies was quoting at Rs 1,002.45, up Rs 20.40, or 2.08 percent.
It has touched an intraday high of Rs 1,023.00 and an intraday low of Rs 994.10.
It was trading with volumes of 192,684 shares, compared to its thirty day average of 238,738 shares, a decrease of -19.29 percent.
In the previous trading session, the share closed up 3.19 percent or Rs 30.40 at Rs 982.05.
The share touched its 52-week high Rs 1,359.00 and 52-week low Rs 875.65 on 13 January, 2022 and 29 August, 2022, respectively.
Currently, it is trading 26.24 percent below its 52-week high and 14.48 percent above its 52-week low.
Market capitalisation stands at Rs 272,031.36 crore.