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Buy HCL Technologies; target of Rs 1454: Geojit

Geojit is bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 1454 in its research report dated October 20, 2021.

October 25, 2021 / 12:14 PM IST
 
 
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Geojit's research report on HCL Technologies


HCL Technologies Limited provides software development business process outsourcing, information technology and infrastructure services. The company is spread across 49 countries with 170,000+ employees and its client base, including 250 of the fortune 500 companies. Consolidated revenue rose 11.1% YoY, on the back of continued strong demand-driven growth seen in IT & Business and Engineering & R&D Services segments.



Outlook


Though margins remain under pressure in the near-term, we continue to maintain a positive long-term outlook and hereby retain our BUY rating on the stock with a revised TP of Rs. 1,454 based on 25x FY23E adj. EPS.

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first published: Oct 25, 2021 12:14 pm

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