HCL TECH’s results in Q2 have been weaker than expected. The company’s dollar revenue grew by 2.6%. The profit of the company increased by about 1.5 percent. There was a slight decline in margin but the management has maintained the GUIDANCE of double digit revenue growth for FY22.
The company’s consolidated net profit rose 4 per cent to Rs 3,259 crore during the July-September quarter. It was Rs 3,142 crore in the corresponding quarter of the previous financial year. While the consolidated net profit in the second quarter was estimated at Rs 3,219 crore. The company’s operating income rose 11.3 per cent to Rs 20,655 crore during the July-September quarter as against Rs 18,594 crore in the year-ago quarter.
BROKERAGES ON HCL tech
CREDIT SUISSE Opinion on HCL Tech
CREDIT SUISSE has given Outperform Rating on HCL Tech and has set a target of Rs 1,450 for the stock. He says that he has increased its EPS Estimates for FY22-24 by 1-4%.
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MACQUARIE Opinions on HCL TECH
MACQUARIE has given Outperform Call on HCL TECH and has set target of share lower at Rs 1,620. He says that the second quarter results on Revenue & Margin Levels were lower than our estimates but in the second quarter the company has done strong deals. They have reduced its EPS estimate for FY22-24 by 2-6%.
CLSA’s opinion on HCL Tech
CLSA has downgraded the rating on HCL Tech to outperform rating by downgrading from buy and has set a target of Rs 1420 for the stock.
JP Morgan’s opinion on HCL Tech
JP MORGAN has given Overweight rating on HCL TECH and has set a target of Rs 1,400 on the stock.
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KOTAK INSTL EQ’s opinion on HCL Tech
KOTAK INSTL EQ has Add Rating on HCL Tech and has a target of Rs 1,400 for the stock. He says the company has bagged large orders, stable supply, record hiring and good client metrics. Further growth will be seen in this.
Opinion of GOLDMAN SACHS on HCL TECH
GOLDMAN SACHS has given Neutral rating on HCL TECH and has set a target of Rs 1,298 for the stock. They have reduced its EPS estimate for FY22-26 by 7 per cent.
Opinion of CITI on HCL Tech
CITI has downgraded the rating on HCL TECH from buy to neutral rating and has a target of Rs 1340 for the stock. They have reduced its EPS Estimates by 1-3%.
MORGAN STANLEY’s opinion on HCL TECH
MORGAN STANLEY has Equal-weight Rating on HCL TECH and has a target of Rs 1,275 for the stock. This is the second quarter in which the company’s revenue was lower than our estimates.
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