Result Update - HCL Technologies Ltd (Q4 F6/08): BUY says India Infoline

HCL Technologies Ltd (Q4 F6/08)

CMP Rs207, BUY
Target price Rs268, Upside 29.3%

- Revenue growth momentum slows down; but HCL reports better-than-peer growth

- Revenues from US and engineering and R&D services continue to grow strongly; BFSI revenues were flat qoq

- OPM improves by 120bps qoq on account of rupee depreciation and higher utilization        

- Huge forex loses drag down net profit

- Muted employee addition manifest near-term growth challenges; continued d ecline in attrition is commendable

- Reiterate BUY with a price target of Rs268 implying 29.3% upside

Clickhere for the quarterly update of HCL Technologies Ltd.

Thanks to :India Infoline


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