Comments
Arihant Capital
HCL Tech (Hold)
CMP: ₹1424.20
Target: ₹1587
HCL Technologies’ reported revenues were up 3 per cent q-o-q to $1.36 billion. The EBIT margin improved q-o-q by 100 bps to 24.7 per cent helped by revenue growth and higher rationalisations. HCL Tech’s performance during the quarter was commendable and came at the time of uncertain environment in some business segments. Company continues to witness broad-based growth across verticals and geographic. However, we will be watchful of pick up in software services growth. At CMP, the stock is available at 14.4x its FY15 EPS which is an attractive one is our view. Recommend ‘Hold’ rating on the stock.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.