Buy HCL Technologies, target price Rs 1130: Emkay Global

Buy HCL Technologies, target price Rs 1130:  Emkay Global

Emkay Global has buy call on HCL Technologies with a target price of Rs 1130. The current market price of HCL Technologies Ltd. is Rs 996.7.

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 268598.57 Crore) operating in IT Software sector.

For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 19302.00 Crore, up 3.81 % from last quarter Sales of Rs 18594.00 Crore and up 6.44 % from last year same quarter Sales of Rs 18135.00 Crore. Company reported net profit after tax of Rs 3977.00 Crore in latest quarter.

Investment Rationale
EBIT margin expansion, solid performance of products and platform business and healthy cash generation.

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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