Buy HCL Technologies target of Rs 620: Sharekhan

Sharekhan is bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 620 in its research report dated May 07, 2020.

Broker Research

May 10, 2020 / 14:02 IST

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Sharekhan's research report on HCL Technologies

Revenue was inline and margins were ahead of our expectations; Q4FY2020 order bookings were the highest in FY2020. Management expects revenue would decline significantly in Q1FY2021 owing to some supply disruption, deferral of discretionary spends and price discounts; expects gradual recovery in demand from H2FY2021. Strong demand for infrastructure business and emergence of new business models for deeply impacted verticals is expected to create new growth opportunities.

Outlook

We maintain our Buy rating on HCL Technologies (HCL Tech) with a revised PT of Rs. 620.

For all recommendations report, click here

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Broker Research

first published: May 10, 2020 02:02 pm

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