Buy HCL Technologies with a 12-month target of Rs 980: Reliance Securities
The IT major posted in-line revenue and margin in 3Q, however lower contract ACV (adjusted for rise in contract duration) coupled with steady win-rate suggests protracted acceleration.
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| Updated: Reliance Securities maintains buy rating on HCL Technologies post March quarter results with a 12-month target price of Rs 980.
The IT major posted in-line revenue and margin in 3Q, however lower contract ACV (adjusted for rise in contract duration) coupled with steady win-rate suggests protracted acceleration.
The domestic brokerage firm continue to remain optimistic on HCL based on likely acceleration in Infrastructure Services, leadership and growth momentum in Engineering Services, and attractive valuations at 12.7xFY18E.
The IT major posted in-line revenue and margin in 3Q, however lower contract ACV (adjusted for rise in contract duration) coupled with steady win-rate suggests protracted acceleration.
The domestic brokerage firm continue to remain optimistic on HCL based on likely acceleration in Infrastructure Services, leadership and growth momentum in Engineering Services, and attractive valuations at 12.7xFY18E.
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