Broker's call: HCL Technologies (Buy)

| Updated on December 01, 2020 Published on December 02, 2020

Anand Rathi

HCL Technologies (Buy)

Target: ₹931

CMP: ₹834.70

HCL Technologies has reported good set of numbers for the July-September quarter. Revenue from operations improved by 6.1 per cent year-on-year.

Mode-1 (63.3% of revenue)/Mode-2 (20.9%)/Mode-3 (15.8%) grew by 4.3/6.9/2.1 per cent q-o-q in constant currency (CC) terms respectively. The company has signed 15 transformational deals during the quarter for another straight quarter driven by life sciences & healthcare, public services (energy & utilities) and manufacturing. The management said bookings in Q2-FY21 are similar to the same quarter last year, and is 35 per cent higher than the last quarter.

From a pipeline perspective, the company is witnessing good deal creation activity across all verticals and geographies & also witnessing good momentum in the digital foundation, and the transformation opportunities. Q2FY21 pipeline grew by 20 per cent q-o-q and currently it stands at an all- time high. It has revised revenue and margin guidance upwards.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 02, 2020
This article is closed for comments.
Please Email the Editor