Motilal Oswal has buy call on HCL Technologies with a target price of Rs 1190. The current market price of HCL Technologies is Rs 927.1.
HCL Technologies Ltd, incorporated in the year 1991, is a Large Cap company with a market cap of Rs 251583.89 Crore, operating in IT Software sector.
HCL Technologies key Products/Revenue Segments include Software Development Charges and Computer Hardware & Software for the year ending 31-Mar-2020.
Investment Rationale
HCL Technologies won 19 new large deals in 4Q FY21 across industry verticals, including Financial Services, Life Sciences and Healthcare, Consumer Goods, and Manufacturing. In FY21, it signed a total of 58 new large deals, led by industries such as Financial Services, Life Sciences and Healthcare, Telecommunication, Manufacturing, and Technology.
Financials
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 19885.00 Crore, up 2.02 per cent from last quarter Total Income of Rs 19491.00 Crore and up 6.14 per cent from last year same quarter Total Income of Rs 18734.00 Crore. Company has reported net profit after tax of Rs 1111.00 Crore in latest quarter.
Promoter/FII Holdings
Promoters held 60.3 per cent stake in the company as of June 30, 2020, while FIIs held 25.6 per cent, DIIs held 10.1 and public and others 4 per cent.
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