HCL Technologies stocks: Buy HCL Technologies, target price Rs 975: Kotak Securities

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Kotak Securities Limited has buy call on with a target price of Rs 975. The current market price of HCL Technologies Ltd. is Rs 945.3. Time period given by analyst is Intra Day when . price can reach defined target.

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 256739.85 Crore) operating in IT Software sector.

HCL Technologies Ltd. key Products/Revenue Segments include Software Development Charges and Computer Hardware & Software for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 23873.00 Crore, up 4.19 % from last quarter Total Income of Rs 22914.00 Crore and up 17.47 % from last year same quarter Total Income of Rs 20323.00 Crore. Company reported net profit after tax of Rs 3281.00 Crore in latest quarter.

Investment Rationale
Range breakout on the daily chart with incremental volumes suggests a new leg of upward momentum


Promoter/FII Holdings
Promoters held 60.72 per cent stake in the company as of 30-Jun-2022, while FIIs owned 17.91 per cent, DIIs 15.54 per cent.

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