ICICI Direct has given Buy recommendation for HCL Technologies with a target price of Rs. 1475 in its research report issued on Oct 18, 2021

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 HCL has grown organically and inorganically (14% CAGR over FY18-21)

Outlook

We continue to remain positive and retain our BUY rating on the stock We value HCLT at Rs 1475 i.e. 24x P/E on FY23E EPS

 

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