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HCL Tech's low valuation and strong outlook attract investors, but risks exist

Order inflows remained firm despite a disappointing financial performance in the first half of the current fiscal year

November 30, 2021 / 09:17 AM IST
HCL Tech's low valuation and strong outlook attract investors, but risks exist

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

HCL Technologies led among IT stocks that rose on Monday, November 29, with its shares rising by about 2 percent. The stock is cheapest among the big four IT companies and has trailed the NSE Nifty IT index this year. HCL Tech is trading at 20 times its FY23 estimated earnings versus the 25-29 times valuation multiple of Wipro, Infosys and Tata Consultancy Services. The stock has underperformed as HCL has lagged its peers' revenue growth in the last two quarters. The possibility of this valuation gap...

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