HCL Technologies reported a strong set of numbers for the September quarter and also raised revenue and margin guidance.

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Urmil Shah, AVP and Research Analyst at IDBI Capital, Prakash Diwan, Market Expert and Sandip Agarwal, Research Analyst-Institutional Equities at Edelweiss discussed HCL Tech’s performance numbers.

“HCL Tech has set itself up for very high expectation. There is great potential in the product side that they have developed after the IBM acquisition and that will start playing out or making sure that the numbers are resilient enough for quarters to come by,” said Prakash Diwan.

“My price target is quite steep primarily because I firmly believe that we are in a technological upcycle and the way is to upgrade the multiple at the beginning of the cycle,” said Agarwal, who has a target of Rs 1481 on the stock.

“I am pretty confident that as we get into next two-three quarters, we will see numbers getting revised massively by the street and the guidance by the company will also get revised upwards,” Agarwal added.