External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>eClerx Services (eClerx) provides business process management, automation and analytics services.</li><li>It caters to financial services, communications, retail, media, manufacturing, travel and technology companies</li><li>OCF to EBITDA of &gt;80%, debt free and RoCE of &gt;20%.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

eClerx Services (eClerx) provides business process management, automation and analytics services.It caters to financial services, communications, retail, media, manufacturing, travel and technology companiesOCF to EBITDA of &gt;80%, debt free and RoCE of &gt;20%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EClerx Services | EClerx Services (EClerx) Provides Business Process Management, Automation and A...

<ul><li>eClerx Services (eClerx) provides business process management, automation and analytics services.</li><li>It caters to financial services, communications, retail, media, manufacturing, travel and technology companies</li><li>We continue to remain positive and retain our BUY rating on the stock Target Price and Valuation: We value eClerx at Rs 3,000 i.e. 20x P/E on FY24E EPS.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

eClerx Services (eClerx) provides business process management, automation and analytics services.It caters to financial services, communications, retail, media, manufacturing, travel and technology companiesWe continue to remain positive and retain our BUY rating on the stock Target Price and Valuation: We value eClerx at Rs 3,000 i.e. 20x P/E on FY24E EPS.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

eClerx Services Limited: Strong Client Additions

<ul><li>eClerx Services (eClerx) provides business process management, automation and analytics services.</li><li>It caters to financial services, communications, retail, media, manufacturing, travel and technology companies</li><li>We roll over valuations to FY24E and value eClerx at Rs 2900 i.e. 21x P/E on FY24E EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

eClerx Services (eClerx) provides business process management, automation and analytics services.It caters to financial services, communications, retail, media, manufacturing, travel and technology companiesWe roll over valuations to FY24E and value eClerx at Rs 2900 i.e. 21x P/E on FY24E EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EClerx Services Limited: Consistent Revenue Growth

Equity Analyst, Event-driven, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst, Event-driven

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<p>India-based data management and analytics firm <a href="https://www.smartkarma.com/entities/eclerx-services-ltd" target="_blank" data-smartkarma-citation="entities:17312:1" rel="noopener">eClerx Services (ECLX IN)</a> released their public announcement document for their latest buyback after market close on 20th September 2021. The buyback was initially proposed in a board meeting on 13th August 2021 and later approved by shareholders (postal ballot) on 16th September 2021.  </p><p>The buyback price has been set at INR2,850/share and eClerx expects to buy up to 1,063,157 shares through a Tender Offer. The total size of the buyback will be approximately INR3bn (~US$41mn). </p><p><em>More below the fold. </em></p><hr><div class="content-remarks"><p><strong>For more on Indian Buybacks, please see <a href="https://www.smartkarma.com/insights/quiddity-india-buy-back-guide-2021-regulations-patterns" target="_blank" data-smartkarma-citation="insights:56892" rel="noopener">Quiddity India Buy-Back Guide 2021: Regulations &amp; Patterns</a> </strong></p></div>

India-based data management and analytics firm eClerx Services (ECLX IN) released their public announcement document for their latest buyback after market close on 20th September 2021. The buyback was initially proposed in a board meeting on 13th August 2021 and later approved by shareholders (postal ballot) on 16th September 2021.  The buyback price has been set at INR2,850/share and eClerx expects to buy up to 1,063,157 shares through a Tender Offer. The total size of the buyback will be approximately INR3bn (~US$41mn). More below the fold. For more on Indian Buybacks, please see Quiddity India Buy-Back Guide 2021: Regulations &amp; Patterns 

<p>About the stock: eClerx Services (eClerx) provides business process management, automation and analytics services.</p><ul><li>It caters to financial services, communications, retail, media, manufacturing, travel and technology companies</li><li>OCF to EBITDA of &gt;80%, debt free and RoCE of &gt;20%</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: eClerx Services (eClerx) provides business process management, automation and analytics services.It caters to financial services, communications, retail, media, manufacturing, travel and technology companiesOCF to EBITDA of &gt;80%, debt free and RoCE of &gt;20%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EClerx Services Limited: Revenues to Improve in Coming Quarters

India

eClerx Services Limited provides data analytics and solutions to global enterprise clients in the financial services, retail and manufacturing industries. The Company offers data analytics, operations management, data audits, metrics management and reporting services.

Eclerx Services (ECLX IN)

EClerx Services | EClerx Services (EClerx) Provides Business Process Management, Automation and A...

eClerx Services (eClerx) provides business process management, automation and analytics services. It caters to financial services, communications,...

ICICI Securities Limited

eClerx Services Limited: Strong Client Additions

We continue to remain positive and retain our BUY rating on the stock Target Price and Valuation: We value eClerx at Rs 3,000 i.e. 20x P/E on FY24E...

ICICI Securities Limited

EClerx Services Limited: Consistent Revenue Growth

The company recently acquired personiv, an outsourcing provider with over 35+ years of experience with offices in US, India and Philippines. The...

ICICI Securities Limited

EClerx Buyback: Adding Fuel to Momentum

India based data management firm eClerx Services launched a US$40mn buyback which is expected to open next month. Fundamentally, the stock appears...

Janaghan Jeyakumar, CFA

EClerx Services Limited: Revenues to Improve in Coming Quarters

eClerx Services (eClerx) provides business process management, automation and analytics services. It caters to financial services, communications,...

ICICI Securities Limited