Key Points
The stock gained amid a favourable view by several top brokerages like UBS, Kotak Institutional Equities, Motilal Oswal and Nuvama...
IT services company HCL Technologies on Thursday reported a 10% growth in its consolidated net profit at Rs 3,832 crore for the quarter ended September 2023..
EBIT was 5% ahead of estimates and the company maintained its FY24 margin guidance, it said as it noted lower FY24-26 topline by up to 1% and EBIT estimates higher by up to 1% on better-than-expected cost control...
Kotak has also maintained a buy on HCL for an unchanged price target of Rs 1,410 as HCL Tech made what it called 'marginal tweaks' to its estimates..
Our US$ revenue estimates are lower by 0.3-0.8% over FY2024-26E," the brokerage said.. Multiple years of investments in digital have allowed HCLT to have a balanced portfolio of business and drive consistent growth, Kotak opines...
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