Shrikant Chouhan of Kotak Securities Limited has a sell call on
HCL Technologies Ltd. with a target price of Rs 499.0. The current price of HCL Technologies Ltd. is Rs 516.75 Time period given by the analyst is Intra Day when HCL Technologies Ltd. price can reach defined target. . Shrikant Chouhan recommended to keep a stoploss at Rs 524 .
HCL Technologies Ltd., incorporated in year 1991, has a market cap of Rs 140418.60 crore.
Investment Rationale
Lower top and trading below 200-day SMA indicates possibility of short-term price reversal.
Financials
For the quarter ended March 31,2020, the company reported consolidated sales of Rs 18587.00 crore, up 2.49 per cent from last quarter sales of Rs 18135.00 crore and up 16.24 per cent from last year same quarter sales of Rs 15990.00 crore The company reported net profit after tax of Rs 3172.00 crore in the latest quarter.
Promoter/FII Holdings
Promoters held 60.32 per cent stake in the company as of March 31, 2020, while FIIs held 26.42 per cent, DIIs 9.16 per cent and public and others 4.1 per cent.