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[ Scorecard : 84]

Volume growth in 4Q positive. HCL Tech’s dollar revenue  grew 7.6%; its margin slipped 112bp on higher wage costs, while profit was higher owing to lower tax expense, partly offset by higher forex loss. Core software services saw volumes growing  10.5%, significantly ahead of peers. We retain our target price of  Rs425 and reiterate...

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Source: Dalal Street Investment Journal

www.dsij.in