Stock market analysts have maintained ‘buy’ rating on HCL stock with an intraday target of 250.

According to them, interested traders can purchase the stock above Rs 242 with a strict stop loss of Rs 238. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 255.
 
Shares of the company, on Monday (Sep 01), closed at Rs 242.30 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 115489. Current EPS & P/E ratio stood at 11.68 and 20.91 respectively. The share price has seen a 52-week high of Rs 336 and a low of Rs 180 on BSE.

The stock has good potential and it can still exhibit superb surge. It will achieve the target price on the back of its healthy growth plans and well-built operating capabilities.

The employees’ stock option allotment committee of HCL Technologies on August 27, allotted 1,756,536 equity shares of Rs 2 each, under the 1999, 2000 & 2004 stock option plans of the company.

On August 25, HCL Technologies announced that it has signed up a contract to fully acquire Control Point Solutions, a supplier of voice, data and wireless Telecommunications Expense Management (TEM) services.

HCL Technologies, India`s leading global IT service company on Thursday, August 21 announced the opening of a new worldwide development centre in Sydney to house more than 500 employees across the region.

For the quarter ended June 2008, HCL Technologies posted an 86.60 percent increase in consolidated net profit, which stood at Rs 4,409 million, as against the previous year quarter.

While on a sequential basis, the company posted increase of 19.40 percent in consolidated net profit for the same period.

During the period, the company’s consolidated earnings zoomed 34.50% over prior year period to Rs 21,686 million. While on sequential basis, the company posted 11.50% in revenues for the quarter ended June 2008.

But on standalone basis, the company swung to loss of Rs 135.40 for the same period, as compared with a profit of Rs 3,912.30 million in the same quarter last year.

Net sales for the quarter rose 17.70% to Rs 11,077.50 million, while total income for the quarter fell 7.76% to Rs 11,425.60 million, when compared with the prior year period.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes TCL, Infosys, Satyam and Wipro.