HCL Tech has posted a stellar show in Q2FY23 and the strength of the service business of the IT company lends comfort
Representative image
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Highlights Strong show from HCL Tech in a quarter marred by seasonal weakness in products Services drive revenue; company ups full-year revenue guidance Pricing uptick and other operational levers aid margin improvement despite wage hike Expects margin to look up, guiding to 18-19 percent for FY23 New deal wins strong and pipeline at a record Attrition stable, supply crunch easing, hiring lends confidence Valuation can correct in the event of deteriorating global macro, buy on weakness Amid widespread concern about disruptions in key markets due to economic…
