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    HCLTECH   INE860A01027

HCL TECHNOLOGIES LIMITED

(HCLTECH)
  Report
Delayed Quote. Delayed NSE India Stock Exchange - 12/03 06:25:27 am
1171.4 INR   -1.12%
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India's TCS slumps 7% on fears large deals drying up

10/11/2021 | 02:23am EST
FILE PHOTO: A private security guard stands at the exit gate of the headquarters of TCS in Mumbai

BENGALURU (Reuters) - Shares of India's Tata Consultancy Services Ltd fell as much as 7% on Monday on fears that large deals that drove most of its growth in the past year were drying up.

TCS, India's largest information technology exporter, is the first among peers to report earnings for the financial second quarter, and its performance is seen as a gauge for the country's $194 billion IT services sector.

TCS on Friday reported total contract value, or orders, of $7.6 billion during the second quarter, down from $8.6 bln a year earlier and $8.1 billion in the June quarter.

With the absence of mega deals, moderation in deal wins is cautionary for elevated growth expectations being built in over the medium term, Ambit Capital analysts said in a research note.

TCS and rivals Infosys, Wipro and HCL Technologies have won large contracts over the last one year from businesses investing in areas such as cloud-computing, digital payments, crypto platforms and cybersecurity.

"With mega deals largely missing for the industry in the last 2-3 quarters, this situation could play out for Infosys too after a great FY21 on lumpy deals," Nirmal Bang analysts said in a note.

"On the margin front, we are more sanguine as we believe that the cost pressures will peak in FY22."

TCS indicated that while it was able to sustain margins despite challenges in the supply side, employee hiring and attrition, it will remain on the watch out as it expects them to persist for the next couple of quarters.

IT companies have been dealing with wage increases, employee retention costs and higher attrition as remote working has unleashed a talent war in the sector.

Infosys will report its second-quarter results on Wednesday.

The country's main index for IT stocks was down 3%.

($1 = 74.9390 Indian rupees)

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Saumyadeb Chakrabarty)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BELIEVE 0.10% 17.658 Real-time Quote.0.00%
HCL TECHNOLOGIES LIMITED -1.12% 1171.4 Delayed Quote.23.81%
INFOSYS LIMITED -0.73% 1735.55 Delayed Quote.38.20%
TATA CONSULTANCY SERVICES LTD. -0.07% 3640.45 Delayed Quote.27.17%
WIPRO LIMITED -0.98% 640.4 End-of-day quote.65.80%
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Analyst Recommendations on HCL TECHNOLOGIES LIMITED
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Financials
Sales 2022 845 B 11 235 M 11 235 M
Net income 2022 134 B 1 781 M 1 781 M
Net cash 2022 185 B 2 460 M 2 460 M
P/E ratio 2022 23,7x
Yield 2022 2,92%
Capitalization 3 179 B 42 243 M 42 249 M
EV / Sales 2022 3,54x
EV / Sales 2023 3,10x
Nbr of Employees 168 977
Free-Float 39,6%
Chart HCL TECHNOLOGIES LIMITED
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HCL Technologies Limited Technical Analysis Chart | HCLTECH | INE860A01027 | MarketScreener
Technical analysis trends HCL TECHNOLOGIES LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Last Close Price 1 171,40 INR
Average target price 1 380,41 INR
Spread / Average Target 17,8%
EPS Revisions
Managers and Directors
C. Vijayakumar President, Chief Executive Officer & MD
Prateek Solek Aggarwal Chief Financial Officer
Roshni Nadar Malhotra Chairman
Hanumantha Rao Gade President-Engineering, R&D Services
Kalyan B. Kumar Chief Technology Officer & Corporate VP
Sector and Competitors
1st jan.Capi. (M$)
HCL TECHNOLOGIES LIMITED23.81%42 243
ACCENTURE PLC37.87%228 288
TATA CONSULTANCY SERVICES LTD.27.17%178 952
INTERNATIONAL BUSINESS MACHINES CORPORATION-5.59%106 576
SNOWFLAKE INC.10.52%103 844
INFOSYS LIMITED38.20%97 940