Get App
Moneycontrol

Co-Partners

Associate Partners

Last Updated : May 13, 2019 04:22 PM IST | Source: Moneycontrol.com

Hold HCL Technologies; target of Rs 1190: ICICI Direct

ICICI Direct recommended hold rating on HCL Technologies with a target price of Rs 1190 in its research report dated May 10, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on HCL Technologies


HCL Tech reported healthy revenue growth of 3.3% QoQ in constant currency on the back of healthy growth in organic revenues. Growth was broad based across geographies. Among services, infrastructure services (38.9% of revenues) registered healthy growth on the back of deal ramp ups. This growth momentum is expected to continue ahead. However, EBIT margin declined 65 bps in Q4FY19 mainly due to rupee appreciation (impact of 40 bps) and seasonal weakness in products & platform revenues.


Outlook


This coupled with recent run up in stock prompts us to maintain our HOLD recommendation with a revised target price of Rs 1190/share (~14x FY21E EPS).


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



Get Lok Sabha 2019 Live Election Results, constituency-wise tally, news, views and analysis
Follow our Lok Sabha Election Result Live Blog here.
First Published on May 13, 2019 04:22 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant