Sharekhan is bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 1250 in its research report dated May 09, 2019.
Sharekhan's research report on HCL Technologies
For the quarter, HCL Tech delivered impressive CC revenue growth in Q4FY2019, while EBIT margin remained below our expectations. Management provided strong CC revenue growth guidance of 14-16% for FY2020E with recovery in organic growth, including revenues from acquisitions. Strong revenue growth and reasonable valuation makes HCL Tech an attractive investment.
We upgrade our rating to Buy on HCL Technologies with a revised PT of Rs. 1,250.
For all recommendations report, click here
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