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India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

<p>In CY18, <a href="https://www.smartkarma.com/entities/20025" target="_blank" data-smartkarma-citation="entities:20025:1">Hcl Technologies (HCLT IN)</a> has significantly underperformed both <a href="https://www.smartkarma.com/entities/18708" target="_blank" data-smartkarma-citation="entities:18708:1">Tata Consultancy Svcs (TCS IN)</a> and <a href="https://www.smartkarma.com/entities/267" target="_blank" data-smartkarma-citation="entities:267:1">Infosys Ltd (INFO IN).</a> This is surprising because the quarterly results have not been particularly bad and deal wins has also been satisfactory. Then, what explains lack of investor interest in <a href="https://www.smartkarma.com/entities/20025" target="_blank" data-smartkarma-citation="entities:20025:1">Hcl Technologies (HCLT IN)</a>?<em> </em>It seems there was no specific USP attached to <a href="https://www.smartkarma.com/entities/20025" target="_blank" data-smartkarma-citation="entities:20025:1">Hcl Technologies (HCLT IN)</a> during this time frame and for different reasons in both the cases, preference of institutional investors has shifted to either <a href="https://www.smartkarma.com/entities/18708" target="_blank" data-smartkarma-citation="entities:18708:1">Tata Consultancy Svcs (TCS IN)</a> or <a href="https://www.smartkarma.com/entities/267" target="_blank" data-smartkarma-citation="entities:267:1">Infosys Ltd (INFO IN).</a> There are a few other concerns as well such as lower profitability on some of the big contracts the company has won over last few years.</p>

In CY18, Hcl Technologies (HCLT IN) has significantly underperformed both Tata Consultancy Svcs (TCS IN) and Infosys Ltd (INFO IN). This is surprising because the quarterly results have not been particularly bad and deal wins has also been satisfactory. Then, what explains lack of investor interest in Hcl Technologies (HCLT IN)? It seems there was no specific USP attached to Hcl Technologies (HCLT IN) during this time frame and for different reasons in both the cases, preference of institutional investors has shifted to either Tata Consultancy Svcs (TCS IN) or Infosys Ltd (INFO IN). There are a few other concerns as well such as lower profitability on some of the big contracts the company has won over last few years.

What's Really Wrong with Hcl Technologies (HCLT IN)?

HCL Technologies

What's Really Wrong with Hcl Technologies (HCLT IN)?