HCL Technologies share price: Nomura says Buy, pegs price target at Rs 1110
Nomura says Q4 results missed expectations as revenues stood at 3% qoq in Constant Currency terms (vs 3.4%) due to weaker than-expected seasonality in the products business. Also the EBIT margins came at 20.4% (below expectations of 21.4%), due to increased hiring and other reasons. However, as far as Order Book is concerned, net new deal wins of USD 3.1bn (implying a book-to-bill of 1.2x) in 4Q was impressive, with a healthy mix of mid and large sized deals
HCL Technologies announced an increase in the quarterly dividend to Rs 6/share (50% payout) and a special dividend of Rs 10/share: Reuters