Hcl Technologies

HCL Technologies: Stellar Performance; Outlook Continues To Be Robust

Equity Bottom-Up
144 Views, 18 Jan 2022 17:24
EXECUTIVE SUMMARY
  • HCL Technologies Ltd (HCL Tech) Q3FY22 performance stood above our expectations and beat our estimate on all fronts.
  • The company reported revenues of Rs 22,331 Cr, up 8.1% QoQ and 15.7% YoY.
  • We recommend a BUY on the stock and assign a 24x P/E multiple to its FY24E earnings of Rs 67.4/share which gives a TP of Rs 1,600/share, indicating an upside of 20% from CMP.
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