HCLTech Rated 'Hold' By ICICI Securities Amid Revenue Beat — Check Revised Target Price

ICICI Securities notes that HCLTech delivered a revenue beat, reporting 4.2% QoQ constant currency growth (vs estimate of 2.2% and consensus of 2.8%), driven by strong performance in its software products segment, seasonal strength, and healthy traction in ER&D and IT services despite furlough-related headwinds..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.ICICI Securities has reiterated its 'Hold' rating on HCLTech Ltd. with a target price of Rs 1,590, valuing the services business at 21x one-year forward P/E and the product business at 18x. The brokerage notes that HCLTech delivered a revenue beat, reporting 4.2% QoQ constant currency growth (vs estimate of 2.2% and consensus of 2.8%), driven by strong performance in its software products segment, seasonal strength, and healthy traction in ER&D and IT services despite furlough-related headwinds.Trailing twelve month’s TCV growth of 21% YoY positions the company well to potentially report highest growth among large-cap peers in FY27 too. Management notes that traditional discretionary spending has slowed, but opportunities are emerging in newer pockets like managing AI infrastructure and AI engineering services..Key risks Key upside risks: Faster-than-expected recovery in macros; and tailwinds in products business led by AI. Key downside risks: Any adverse regulatory changes in US; and geopolitical uncertainty impacting discretionary spends..Click on the attachment to read the full report:.Canara HSBC Life Insurance Shares In Focus As Motilal Oswal Initiates 'Buy' Coverage — Check Target Price .DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

HCLTech Rated 'Hold' By ICICI Securities Amid Revenue Beat — Check Revised Target Price

HCLTech saw strong deal TCV at $3 billion, up 17% QoQ/43.5% YoY.

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP