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RESEARCH REPORT ON HCL TECHNOLOGIES LIMITED

June 24, 2023

 RESEARCH REPORT ON    HCL TECHNOLOGIES LIMITED

 

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HCL Technologies Limited is an India-based technology company. The Company offers its services and products through three business segments: IT and Business Services (ITBS), Engineering and R&D Services (ERS), and HCL Software. ITBS segment provides a portfolio of information technology (IT) and business services, including application, infrastructure and digital process operations and digital transformation services enabled by digital and analytics, IoTWoRKs, cloud native and cyber security solutions including products developed within these businesses. ERS segment provides engineering services and solutions across software, embedded, mechanical, very large-scale integration (VLSI) and platform engineering that support the end-to-end lifecycle of products, including both hardware and software across diverse industries. HCL Software segment provides modernized software products to global clients for their technology and industry-specific requirements.

 

COMPANY PROFILE

 

HCL Tech
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Formerly Hindustan Computers Private Limited
Type Public
Traded as ·         BSE: 532281

·         NSE: HCLTECH

·         BSE SENSEX Constituent

·         NSE NIFTY 50 Constituent
ISIN INE860A01027
Industry Information technology
Consulting
Outsourcing
Founded 11 August 1976; 46 years ago
Founder Shiv Nadar
Headquarters Noida, Uttar Pradesh,

India
Area served Worldwide
Key people ·         Roshni Nadar Malhotra (Chairperson)

·         Shiv Nadar (Chairman Emeritus & CSO)

·         C Vijayakumar (CEO)
Products ·         HCL Notes/Domino

·         HCL AppScan

·         HCL Connections

·         HCL Commerce

·         Actian

·         HCL BigFix

·         Starschema

·         WebSphere Portal

·         Ingres

·         HCL Unica

·         HCL Sametime

·         HCL iNotes
Services Software
Revenue  ₹102,814 crore (US$13 billion) (2023)
Operating income  ₹19,488 crore (US$2.4 billion) (2023)
Net income  ₹16,146 crore (US$2.0 billion) (2023)
Total assets ₹93,411 crore (US$12 billion) (2023)
Total equity  ₹65,398 crore (US$8.2 billion) (2023)
Owner Shiv Nadar (60.77%)
Number of employees 225,944 (2023)
Parent HCL Group
Website www.hcltech.com

 

  • FUNDAMENTALS

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  • SHAREHOLDING

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FINANCIALS

 

  • REVENUE

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  • NET PROFIT

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  • EPS

 

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  • BVPS

 

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  • ROE

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  • DEBT TO EQUITY

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TECHNICAL ANALYSIS

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       BUY HCL TECH ABOVE 1168 TGT 1310, 1450 SL 1000 (1-3 MONTHS)

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  • The IT stock which is also part of the S&P BSE Sensex index, consolidated in a narrow range since December 2022 where 1150 on the upside acted as a stiff resistance while on the downside 1000 level acted as a support.
  • The stock closed at Rs 1,168 on 20th June 2023 comfortably surpassing the hurdle. The stock rose about 3% in a week and more than 6% in a month.
  • In terms of price action, the stock is trading well above most of the short- and long-term moving averages of 5,10,30,50,100 and 200-DMA on the daily charts, which is a positive sign for the bulls.
  • The Relative Strength Index (RSI) is at 65.20. RSI below 30 is considered oversold and above 70 is considered overbought, Trendlyne data showed. MACD is above its center and signal Line, this is a bullish indicator.
  • HCL Technologies stock prices have given a breakout with rising volumes from the 7-month long consolidation along with the breakout on momentum indicator RSI.
  • The ticker is in a strong uptrend with the formations of higher highs and higher lows on the short-term as well as long-term charts.
  • The stock has exhibited a Flag-like pattern where the target for the pattern comes at Rs 1310 level which can take up to three months to achieve.
  • The stock is well placed above all the exponential moving averages viz. 50-day, 100-day, and 200-day.
  • HCL Tech started moving in favor of the larger uptrend with the stock recording the highest closing in the last 61 weeks. 14-period RSI still reading below the overbought zone suggests enough room for upside in the stock prices.

 

 

RATIO ANALYSIS

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Disclaimer: This research report is prepared by Shyam Advisory Limited, while making this report we have taken data from available sources and there may be errors in the data shown. We do not guarantee the accuracy of data and recommendation given in this report. Recommendation is for information purpose only. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the Intermediary or provides any assurance of returns to investors.

 

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