HCL Technologies - Mid Quarter Guidance - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"HCL Tech has provided its mid quarter guidance wherein the company mentioned that they expect the Revenue and the Operating Margin for Q2FY2021 to be meaningfully better than the top end of the guidance that the company had provided in July 2020. The company in its release has highlighted that execution is strong during the quarter to date while deal momentum also remains strong led by Life Sciences & Healthcare, Telecom & Media and Financial Services verticals. The company expects revenue growth for the current quarter to exceed 3.5% quarter on quarter in constant currency, enabled by broad based momentum across all service lines, verticals and geographies while EBIT margin is expected to stay between 20.5% to 21.0% for the quarter. Deal pipeline also remains strong across service lines, verticals and geographies. HCL Tech remains one of our top picks in the IT space given cheap valuations and we maintain our buy rating on the stock."

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.721.05 as compared to the previous close of Rs. 721.7. The total number of shares traded during the day was 138875 in over 3712 trades.

The stock hit an intraday high of Rs. 733.9 and intraday low of 710.5. The net turnover during the day was Rs. 100472746.

Source : Equity Bulls

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