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Motilal Oswal Report
We attended HCL Technologies Ltd.’s Analyst Day, where the management reiterated their positive stance on IT Services and engineering research and development verticals, while detailing the steps being undertaken to return to growth in its struggling products and platform business.
HCL Tech's management reiterated its FY23 guidance of growing revenue by 12-14% and Ebit margin in the 18-20% range, and also introduced its five strategic objectives.
We continue to expect strong growth in its services portfolio in FY23, which should help rerate the stock.
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