ICICI Direct's research report on HCL Technologies
HCL Technologies (HCLT) offers IT, ER&D and products to BFSI, retail, health, telecommunication, manufacturing, media & hi-tech verticals. HCL Tech has 250 Fortune 500 and 650 global 2000 clients • It has grown organically and inorganically (14% CAGR over FY18-21).
Outlook
We downgrade the stock from BUY to HOLD rating . We value HCLT at Rs 1430 i.e. 24x P/E on FY24E EPS.
More Info
At 16:00 hrs HCL Technologies was quoting at Rs 1,219.85, down Rs 38.95, or 3.09 percent.
It has touched an intraday high of Rs 1,270.00 and an intraday low of Rs 1,217.00.
It was trading with volumes of 496,588 shares, compared to its thirty day average of 247,569 shares, an increase of 100.59 percent.
In the previous trading session, the share closed down 5.89 percent or Rs 78.75 at Rs 1,258.80.
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 11.41 percent below its 52-week high and 37.06 percent above its 52-week low.
Market capitalisation stands at Rs 331,026.44 crore. For all recommendations report, click here
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