Buy HCL Technologies, target price Rs 1230: HDFC Securities

HDFC Securities has buy call on HCL Technologies with a target price of Rs 1230. The current market price of HCL Technologies Ltd. is Rs 1135.

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 307797.46 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 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.

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.