External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We attended investor day of HCLT, the management was confident of continued executions of strong operating performance while having offered service lines within a scope of both discretionary and non-discretionary front.</li><li>It is aspiring to grow its topline by double-digit for the next five years, while improving its TCV run-rate and going beyond the current offerings where the participation is currently suboptimal.</li><li>While leveraging GenAI solutions, the company is gaining higher mind-share and wallet-share on the back of passing on efficiency and productivity benefits to clients and in return deriving higher scope of work.</li></ul>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.

We attended investor day of HCLT, the management was confident of continued executions of strong operating performance while having offered service lines within a scope of both discretionary and non-discretionary front.It is aspiring to grow its topline by double-digit for the next five years, while improving its TCV run-rate and going beyond the current offerings where the participation is currently suboptimal.While leveraging GenAI solutions, the company is gaining higher mind-share and wallet-share on the back of passing on efficiency and productivity benefits to clients and in return deriving higher scope of work.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.

HCL Technologies - Chasing for Robust and Sustainable Execution

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We attended HCLT’s Investor Day 2024 wherein the management outlined its strategic objectives and showcased its capabilities in GenAI.</li><li>We believe HCLT’s go-to-market (GTM) strategy, which combines its IT Services and ER&amp;D business offerings, gives HCLT an edge over its peers.</li><li>We also witnessed signs of improvement in the demand environment in financial services.</li></ul>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.

We attended HCLT’s Investor Day 2024 wherein the management outlined its strategic objectives and showcased its capabilities in GenAI.We believe HCLT’s go-to-market (GTM) strategy, which combines its IT Services and ER&amp;D business offerings, gives HCLT an edge over its peers.We also witnessed signs of improvement in the demand environment in financial services.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.

HCL Technologies - HCLT Investor Day 2024: Engineering Growth

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>NTPC to establish Plans New Subsidiary for Nuclear Energy Expansion</li>
<li>Raymond Lifestyle's Strategic Expansion: 900 New Stores in Three Years</li>
<li>L&amp;T Construction Slashes Timelines by 50% with 3D Printing Technology</li>
</ul>


NTPC to establish Plans New Subsidiary for Nuclear Energy Expansion
Raymond Lifestyle's Strategic Expansion: 900 New Stores in Three Years
L&amp;T Construction Slashes Timelines by 50% with 3D Printing Technology


# 53 India Insight: NTPC Nuclear Energy Expansion, Raymond Expansion, HCL Tech New Revenue Stream

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>In Q1FY25, HCL-Tech Ltd (HCLT) reported revenue of Rs 28,057 Cr, down 2% QoQ which stood in line with expectations.</li><li>The company’s operating profit stood at Rs 4,795 Cr, reporting a de-growth of 4% on a QoQ basis.</li><li>In line with our expectations, the company’s operating margins declined by 52bps to 17%, which was largely led by lower services revenue margins and lower contribution from the P&amp;P business during the quarter. </li></ul>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.

In Q1FY25, HCL-Tech Ltd (HCLT) reported revenue of Rs 28,057 Cr, down 2% QoQ which stood in line with expectations.The company’s operating profit stood at Rs 4,795 Cr, reporting a de-growth of 4% on a QoQ basis.In line with our expectations, the company’s operating margins declined by 52bps to 17%, which was largely led by lower services revenue margins and lower contribution from the P&amp;P business during the quarter. 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.

HCL Technologies Ltd - Results In-Line, Retained Guidance

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Along expected lines, HCL Tech (HCLT) delivered a soft quarter (revenue/margin decline) with a growth uptick expected in Q3FY25E</li><li>The deal transition impact from onshore to offshore and State Street exit is impacting FY25 growth by ~1.5% while Verizon’s impact is balancing out, resulting in a moderating growth trend in FY25E</li><li>Guidance was maintained at 3-5% CC growth for FY25E which implies 0.9% to 2.3% CQGR over Q2-Q4FY25 with ~0.8% negative impact in Q2 on account of State Street exit</li></ul>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.

Along expected lines, HCL Tech (HCLT) delivered a soft quarter (revenue/margin decline) with a growth uptick expected in Q3FY25EThe deal transition impact from onshore to offshore and State Street exit is impacting FY25 growth by ~1.5% while Verizon’s impact is balancing out, resulting in a moderating growth trend in FY25EGuidance was maintained at 3-5% CC growth for FY25E which implies 0.9% to 2.3% CQGR over Q2-Q4FY25 with ~0.8% negative impact in Q2 on account of State Street exitContent 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.

India

HCL Technologies Limited provides software development and related engineering services.  The Group's technologies utilize a variety of technologies, including Internet and e-commerce, networking, internet telephony, embedded software, ASIC/VLSI design and testing, satellite and wireless communications, and component based object technologies, including COM, DCOM and COBRA.

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HCL Technologies (HCLT IN)

HCL Technologies - Chasing for Robust and Sustainable Execution

We rollover our estimates and introduce FY27 with USD revenue and INR PAT CAGR of 10.9% and 12.9% over FY25E-FY27E. Maintain BUY with a revised...

Prabhudas Lilladhar