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Last Updated : Sep 22, 2020 12:03 PM IST | Source: Moneycontrol.com

Buy HCL Technologies; target of Rs 900: Sharekhan

Sharekhan is bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 900 in its research report dated September 21, 2020.

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Sharekhan's research repor on HCL Technologies

Mid-quarter update raises revenue and margin guidance for Q2FY2021, driven by better-than-expected execution, pick-up in discretionary spends that were held up, and return of normalcy in certain pockets. Given strong capabilities in IMS, HCL Tech would continue to win consolidation deals with application components; The acquisition of DWS would further expand its digital offerings, especially in the APAC region. With no pending IBM-IP acquisition-related payments along with limited capex obligations, we expect free cash flow generation to improve going forward, which could lead to improvement in payout ratio.


We maintain our Buy rating on HCL Technologies (HCL Tech) with a revised PT of Rs. 900.

For all recommendations report, click here

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First Published on Sep 22, 2020 12:03 pm