15/1/2025, 11:08:02 am

Hold HCL Technologies; target of Rs 1894: KR Choksey

HCL Technologies' Q3FY25 profits exceeded expectations by 2.8%. Despite lowering organic growth forecasts to 4.0%-4.5% YoY, FY26E/FY27E EPS estimates remain unchanged at INR 72.6/78.9, factoring in inorganic growth and recovery in discretionary spending. The stock's valuation remains high, leading to a "HOLD" rating and a target price of INR 1,894.