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Buy eClerx Services; target of Rs 1680: ICICI Direct

ICICI Direct is bullish on eClerx Services has recommended buy rating on the stock with a target price of Rs 1680 in its research report dated September 21, 2022.

September 22, 2022 / 05:09 PM IST
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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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At 16:01 hrs eClerx Services was quoting at Rs 1,500.95, down Rs 23.75, or 1.56 percent.

It has touched an intraday high of Rs 1,517.95 and an intraday low of Rs 1,458.00.

It was trading with volumes of 3,241 shares, compared to its thirty day average of 4,481 shares, a decrease of -27.68 percent.

In the previous trading session, the share closed up 5.35 percent or Rs 77.47 at Rs 1,524.70.

The share touched its 52-week high Rs 1,980.00 and 52-week low Rs 1,179.40 on 13 January, 2022 and 25 October, 2021, respectively.

Currently, it is trading 24.19 percent below its 52-week high and 27.26 percent above its 52-week low.

Market capitalisation stands at Rs 7,615.77 crore.

For all recommendations report, click here

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eClerx Services - 220922 - icici

Broker Research
first published: Sep 22, 2022 05:09 pm
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