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.
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.
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