Buy HCL Technologies; target of Rs 1120: Sharekhan

Sharekhan bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 1120 in its research report dated May 02, 2018.

Broker Research

May 04, 2018 / 17:06 IST

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Sharekhan's research report on HCL Technologies

HCL Tech delivered CC revenue growth of 1.2% q-o-q (in-line with our estimates), while EBIT margin remained at 19.6%, tad below our expectations. FY2019E CC revenue growth guidance to be at 9.5-11.5%, inclusive of inorganic revenue. EBIT margin guidance remains at 19.5-20.5%. Positive setups for organic revenue growth in FY2020E on account of anticipated turnaround in IMS division and strong momentum in digital revenue.

Outlook

We maintain our Buy rating on the stock with a revised PT of Rs. 1,120.

For all recommendations report, click here

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Broker Research

first published: May 4, 2018 05:06 pm

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