HDFC Securities' research report on HCL Technologies
Maintain BUY on HCL Tech (HCLT) based on relative out performance, in-line 4Q rev, operational improvement and business durability (large deals, infra services, software business). HCLT’s software portfolio and strong presence in infra services (cloud migration, virtual workplace, endpoint management) will mitigate the near-term headwinds of volume/price compression & deferrals.
Outlook
Our TP of Rs 565, values HCLT at a modest 12x FY22E EPS (3-6% EPS increase).
For all recommendations report, click here
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