Motilal Oswal has given buy rating HCL Technologies with a target price of Rs 930. The share price moved up by 0.86 per cent from its previous close of Rs 802.30. The stock’s last traded price is Rs 804.20.

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 217798.76 Crore) operating in IT Software sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 17842.00 Crore, down 4.01 % from last quarter Sales of Rs 18587.00 Crore and up 8.61 % from last year same quarter Sales of Rs 16427 Crore Company has reported net profit after tax of Rs 2935.00 Crore in latest quarter.

Investment Rationale
The brokerage expects HCL Tech to better navigate the current crisis and emerge stronger due to an expected increase in enterprise demand for Digital Services. Its confidence partly stems from the company’s historical track record of adapting to multiple business challenges and technology change cycles. The stock is currently trading at ~16x FY22 EPS.


Promoter/FII Holdings
Promoters held 60.3 per cent stake in the company as of June 30, 2020, while FIIs held 25.6 per cent, DIIs held 10.1 and public and others 4 per cent.