Sharekhan's research report on HCL Technologies
Management sees no material changes in the business environment despite macro uncertainties; HCL Tech is expected to achieve the top end of its revenue guidance. EBIT margin is expected to improve significantly in Q2/Q3 despite wage revision, led by revenue contribution from acquisition of IBM products. Strong revenue growth and reasonable valuation makes HCL Tech an attractive investment.
Outlook
We maintain our Buy rating on HCL Technologies (HCL Tech) with an unchanged PT of Rs. 1,250.
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