Buy HCL Technologies; target of Rs 1550: Anand Rathi

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26 Aug, 2025 12:21

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The company reported good results for the quarter under review. Revenue from operations improved by 15.7% year-on-year to Rs.223,310 million on consolidated basis. In constant currency (CC) terms the revenue grew by 15.0% YoY and 7.6% QoQ being the highest growth rate in the last 12 years. The company reported healthy revenue growth led by better performance across all regions - Americas, Europe & RoW. Mode-2 & Mode-3 business grew by 30.2% & 6.2% YoY respectively in constant currency terms. Segment wise – IT business services, Engineering services and Product platforms led growth during for the quarter by 15.3%, 19.7% & 12.7% YoY respectively. All verticals led growth – Financial Services, Manufacturing, Technology, Retail, Telecommunications, Life sciences and Public Services grew by 13.5%, 12.2%, 18.1%, 11.5%,12.4%, 21.3% and 14.8% YoY respectively.

With continuity of robust growth across Mode-2 and Mode-3 business (40.5% of revenue combined), we expect the growth momentum to continue supported by strong products, deal pipeline and ramp up of large deals. We maintain our BUY rating on the stock with a revised target price of Rs.1550 per share.

At 16:00 hrs HCL Technologies was quoting at Rs 1,258.80, down Rs 78.75, or 5.89 percent.

It has touched an intraday high of Rs 1,276.00 and an intraday low of Rs 1,244.00.

It was trading with volumes of 567,053 shares, compared to its thirty day average of 230,852 shares, an increase of 145.63 percent.

In the previous trading session, the share closed up 0.32 percent or Rs 4.30 at Rs 1,337.55.

The share touched its 52-week high Rs 1,377.00 and 52-week low Rs 890.00 on 24 September, 2021 and 24 February, 2021, respectively.

Currently, it is trading 8.58 percent below its 52-week high and 41.44 percent above its 52-week low.

Market capitalisation stands at Rs 341,596.16 crore.

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