Hello and welcome back to one more interesting article wherein we’ll discuss the HCL tech share price target which was analyzed earlier and has achieved the target predicted by us in a span of 22 trading sessions.
Let’s do a root cause analysis on how did HCL tech share price target was achieved.
BUSINESS ANALYSIS FOR TARGET ACHIEVEMENT
HCL Technologies has partnered with MetaMedia, a cloud-based distribution platform which is dedicated towards cinemas, drive-ins and other out of home venues. The intention of MetaMedia for this partnership is to accelerate its global expansion.
In US, the company is planning to hire 12,000 employees in the next 5 years.
Intel Network Builders Winner’s Circle ecosystem program has named HCL Technologies as their Titanium level partner which is a great sign for the company as it will increase the credibility.
The company has named Santhosh Jayaram as the Global head of Sustainability for maintaining the organization’s commitment towards elevating sustainability as the key element of their business.
The company has started a new facility in Cinnamon (Sri Lanka) wherein 4,000 employees can be accommodated and this has paved a way for the company to expand its business in Sri Lanka as well.
HCL has emerged as a global IoT player in warehouse management.
HCL Tech CEO C Vijayakumar is quite optimistic about the products and platform business and is sure that the company will build robust products and services in the next financial year as well (FY’ 22).
In Q2 and Q3 of 2021, the company has bagged strong deals with 13 large service deals and one product win which’ll ensure strong revenue growth in the upcoming future. The company posted 38% YoY growth and gained $ 2.25 bn due to new deals.
Fabiano Funari has been apointed as the country head for Brazil by HCL Tech.
For overseas expansion, the company has signed a pact with South Korean software company HANCOM Inc to share advanced software technology solutions.
FINANCIAL ANALYSIS FOR TARGET ACHIEVEMENT
Figures in Rs. Crores
|Quarterly Results||Dec 2018||Mar 2019||Jun 2019||Sep 2019||Dec 2019||Mar 2020||Jun 2020||Sep 2020||Dec 2020||Mar 2021||Jun 2021||Sep 2021|
|Profit before tax||3170||3180||2931||3478||3686||3885||3862||4145||4479||3367||4100||4101|
|EPS in Rs||9.6||9.4||8.22||9.99||10.85||11.69||10.8||11.58||14.63||4.06||11.81||12.01|
For the quarter ended 30-09-2021, the company reported a sale of ₹ 20,655 Cr which is an increase of 10% from the sales registered in the year ago period.
Expense has increased from the previous quarter and the sales number indicate that the company is using this expense for increasing the sales.
In quarter ended 30-09-21, the net profit has increased which is a great symbol of growth.
Reserves have increased exponentially and there is a great interest shown by the investors in HCL tech share price target.
In the quarter ended 30-09-21, the company has reduced borrowing to ₹ 6,265 Cr which is constantly reducing from the past 2 quarters.
Figures in Rs. Crores
|Balance Sheet||Jun 2010||Jun 2011||Jun 2012||Jun 2013||Jun 2014||Jun 2015||Mar 2016||Mar 2017||Mar 2018||Mar 2019||Mar 2020||Mar 2021||Sep 2021|
SHARE HOLDING SYNOPSIS
|Share Holding||Dec 2018||Mar 2019||Jun 2019||Sep 2019||Dec 2019||Mar 2020||Jun 2020||Sep 2020||Dec 2020||Mar 2021||Jun 2021||Sep 2021|
Promoters have maintained their position in this stock with a whopping 60.33%.
FIIs as well as retail investors have reduced their stake in this company while DIIs are the buyers into this stock.
Now, let’s deep dive into the technicalities of HCL tech share price target.
CHART PATTERN ANALYSIS
In the previous analysis, we did highlight the formation of the reverse head and shoulder pattern.
Click here for previous analysis on HCL tech share price target.
HCL tech share price target was achieved on 07th Sept 2021 with a total target achievement of 30%.