Morgan Stanley maintained an 'Equal-weight' rating on HCLTech with a target price of Rs 1,970, reflecting an upside of over 5 percent from the stock's current market price.
For the full year FY25, HCLTech increased its revenue growth guidance in constant currency (CC) terms in the lower end by 50 basis points. Revenue growth guidance is now 3.5-5 percent.
HCL Technologies expects the deal to have a positive revenue impact over the next six years, beginning November 2023
As many as 171 schemes performed better than the Nifty while 43 of these schemes generated positive returns.
The US economy is widely expected to tip into a recession in the second half of 2023 owing to the US Federal Reserve's aggressive tightening of monetary policy
The multiples of cement and IT services are comparable and this is despite the inferior business model of the cement business in terms of financial returns, free cash generation and dividends. Kotak Institutional Equities sees a 50 percent slide in the stock prices of all top-4 cement firms in the medium term.
The consolidated revenue came in at Rs 23,464 crore as against Rs 20,068 crore reported in the year-ago period. On a sequential basis, the revenue increased by 3.83 percent.
Experts expect a flat to mid-single digit growth in profit on year as margins take a hit despite ~16 percent year on year growth in revenues
A potential economic slowdown in end markets should only have a modest impact on revenue growth for Indian IT companies, says CLSA
Profit numbers in the year-ago period exclude the impact of deferred tax credit and the one-time milestone bonus paid during Q4FY21, said the IT service provider
Revenue is expected to be aided by growth in the IT services and engineering and research & development business. However, the products & platforms business may decline due to seasonality
The Nifty IT has fallen more than 11 percent in 2022, as investors turn pessimistic over the sustainability of the sector’s rich valuations amid the possibility of a sharp increase in interest rates at home and abroad
Dollar revenues at 2.98 billion are up 13.8 percent YoY. Constant currency revenue growth 15 percent YoY
Strong quarter expected for IT Services, product platform and ERD businesses but supply side headwinds persist
Order inflows remained firm despite a disappointing financial performance in the first half of the current fiscal year
Although the stock has underperformed the IT index, its breakout from a consolidation phase on August 5 suggests it is poised for a further upside.
A move beyond 11300 can extend the short-covering rally taking it higher to levels of 11350-11370. A sustained trade above this DMA support may trigger short covering.
HCL Technologies Ltd, India's fourth-largest software services exporter, reported a 28% rise in quarterly net profit, beating expectations.
Traders and investors should pick individual stocks within sectors that are likely to post good earnings while keeping the growth momentum intact.