Centrum has maintained its Add rating on HCL Technologies in the long term with a target price of Rs 650.
The stock closed at Rs 588, down 1.6% on Monday while the BSE Sensex closed 416.46 points (0.99%) down at 41,528.91.Company FinancialsFor the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 18135.00 crore.
The company has reported net profit after tax of Rs 2944.00 crore in the latest quarter.
The companys top management includes Dr.Sosale Shankara Sastry, Ms.Robin Abrams, Ms.Nishi Vasudeva, Mr.Thomas Sieber, Mr.Sudhinder Krishan Khanna, Mr.Subramanian Madhavan, Mr.Shiv Nadar, Mr.Ramanathan Srinivasan, Mr.Deepak Kapoor, Ms.Roshni Nadar Malhotra.
Company has S R Batliboi - Co.
LLP as its auditors As on 31-12-2019, the company has a total of 2,713,665,096 shares outstanding.
Investment RationaleThe brokerage said HCLs third quarter results were in-line with analyst estimates on revenue front but HCL outperformed in terms of margins.
Led by steady execution, HCL has also raised its constant currency revenue growth guidance.
Steady margin expansion along with improvement in payouts are positives for the stock.