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HCL Technologies' improving growth outlook and other reasons why it is stock pick of the week

HCL Technologies' improving growth outlook and other reasons why it is stock pick of the week
HCL Technologies' improving growth outlook and other reasons why it is stock pick of the week
A robust increase in revenues and margin guidance are attracting analysts to this counter.

Synopsis

HCL Technologies is better valued among IT companies. Better growth outlook and improved margin performance in the second quarter along with an increase in revenue and margin guidance has made the company a favourite of analysts.

With revenue growth of 4.2% q-o-q and 6.1% y-o-y, HCL Technologies has beaten street expectations. This was an all-round performance and all geographies and verticals participated in this. HCL Tech was also able to report a higher net profit growth of 7.5% q-o-q and 18.5% y-o-y, due to 110 bps improvement in Ebit margin.Strong cash generation is the main advantage of HCL Tech. It generated operating cash flow and free cash flow of $643 million
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