Multibagger Stock: eClerx Services eClerx Services (eClerx) provides Business Process Management, Automation and Analytics Services. eClerx provides these services to financial services, communications, retail, media, manufacturing, travel and technology companies.
The eClerx share price has risen almost 1.8x in the last five years, from around ₹1,357 in December 2016 to ₹2,419 in December 2021. Domestic brokerage and research firm ICICI Securities remains positive on this multibagger stock, which has gained 188% in 2021. It has maintained its buy rating on the stock.
What about a brokerage firm?
The brokerage expects eClerx shares to rise further as it has a target price of ₹ 2,900 per share and a target period of around twelve months. The brokerage firm has said in its note that in the last four to five years, eClerx’s revenue has come down due to three to four big roll-offs, which happened during 2016-19. However, the company has registered strong growth in the recent quarters and expects a growth of over 20% in FY22.
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