ICICI Direct has buy call on HCL Technologies with a target price of Rs 1105. The current market price of HCL Technologies Ltd. is Rs 943.35.
HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 255084.52 Crore) operating in IT Software sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 18594.00 Crore, up 4.21 % from last quarter Sales of Rs 17842.00 Crore and up 6.09 % from last year same quarter Sales of Rs 17527.00 Crore. Company reported net profit after tax of Rs 3146.00 Crore in latest quarter.
Investment Rationale
Improved capital allocation policy (the company is planning to increase its dividend to Rs 4/share per quarter from Rs 2/share per quarter) bodes well.
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.
HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 255084.52 Crore) operating in IT Software sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 18594.00 Crore, up 4.21 % from last quarter Sales of Rs 17842.00 Crore and up 6.09 % from last year same quarter Sales of Rs 17527.00 Crore. Company reported net profit after tax of Rs 3146.00 Crore in latest quarter.
Investment Rationale
Improved capital allocation policy (the company is planning to increase its dividend to Rs 4/share per quarter from Rs 2/share per quarter) bodes well.
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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