Buy HCL Technologies, target price Rs 1075: Kotak Securities Limited

Kotak Securities Limited has purchase name on HCL Technologies with a target price of Rs 1075. The present market price of HCL Technologies is Rs 1044.55.Kotak Securities Limited beneficial to maintain stoploss at Rs 1025.HCL Technologies, integrated within the yr 1991, is a Large Cap firm (having a market cap of Rs 284989.11 Crore) working in IT Software sector.HCL Technologies key Products/Revenue Segments embrace Software Development Charges and Computer Hardware & Software for the yr ending 31-Mar-2022.FinancialsFor the quarter ended 30-09-2022, the corporate has reported a Consolidated Total Income of Rs 24922.00 Crore, up 4.39 % from final quarter Total Income of Rs 23873.00 Crore and up 19.27 % from final yr similar quarter Total Income of Rs 20895.00 Crore. Company has reported web revenue after tax of Rs 3487.00 Crore in newest quarter.The firm’s prime administration contains Ms.Roshni Nadar Malhotra, Ms.Vanitha Narayanan, Mr.Simon England, Dr.Mohan Chellappa, Mr.Deepak Kapoor, Ms.Nishi Vasudeva, Mr.Thomas Sieber, Mr.Subramanian Madhavan, Dr.Sosale Shankara Sastry, Ms.Robin Ann Abrams, Mr.R Srinivasan, Mr.Shikhar Malhotra, Mr.Shiv Nadar, Mr.C Vijayakumar. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the corporate has a complete of 271 Crore shares excellent.Investment RationaleStock is into the buildup section and up to date bullish candlestick suggests sturdy reversal. Promoter/FII Holdings Promoters held 60.72 per cent stake within the firm as of 30-Sep-2022, whereas FIIs owned 17.91 per cent, DIIs 16.45 per cent.(Disclaimer: Recommendations given on this part or any stories connected herein are authored by an exterior get together. Views expressed are that of the respective authors/entities. These don’t characterize the views of Economic Times (ET). ET doesn’t assure, vouch for, endorse any of its contents and hereby disclaims all warranties, categorical or implied, regarding the identical. Please seek the advice of your monetary adviser and search impartial recommendation.

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