Buy HCL Technologies, target price Rs 1150: Anand Rathi

Anand Rathi has buy call on HCL Technologies with a target price of Rs 1150. The current market price of HCL Technologies Ltd. is Rs 998.9. Time period given by analyst is one year 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 270511.71 Crore) operating in IT Software sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 20323.00 Crore, up 2.20 % from last quarter Total Income of Rs 19885.00 Crore and up 12.05 % from last year same quarter Total Income of Rs 18137.00 Crore. Company reported net profit after tax of Rs 3213.00 Crore in latest quarter.


Investment Rationale
With continuity of robust growth across Mode-2 and Mode-3 business (38.5% of revenue combined), the brokerage expects the growth momentum to continue supported by strong products, deal pipeline and ramp up of large deals.

Promoter/FII Holdings
Promoters held 60.3 per cent stake in the company as of March 31, 2021, while FIIs held 24.1 per cent, DIIs 10.5 per cent and public & others 5 per cent.