Buy HCL Technologies, target price Rs 1110: Kotak Securities

Kotak Securities has buy call on HCL Technologies with a target price of Rs 1110. The current market price of HCL Technologies is Rs 1071.95. Time period given by analyst is Intra Day when HCL Technologies Ltd. price can reach defined target.

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 290918.47 Crore) operating in IT Software sector.

HCL Technologies Ltd. key Products/Revenue Segments include Software Development Charges and Computer Hardware & Software for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 22914.00 Crore, up 1.45 % from last quarter Total Income of Rs 22586.00 Crore and up 15.23 % from last year same quarter Total Income of Rs 19885.00 Crore. Company reported net profit after tax of Rs 3599.00 Crore in latest quarter.

Investment Rationale
Reversal from its demand zone on daily and intraday charts indicates uptrend is set to resume

Promoter/FII Holdings
Promoters held 60.72 per cent stake in the company as of 31-Mar-2022, while FIIs owned 18.97 per cent, DIIs 14.68 per cent.