Stock market analyst Anand Kuchelan of Fudiciary Euromax Capital Markets has maintained 'buy' rating on HCL Technologies Ltd stock for short term.

According to analyst, the interested investors can buy the stock with a target of Rs 450.

The stock of the company, on Sep 15, closed at Rs 422.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 448.80 and a low of Rs 290 on BSE.

Current EPS & P/E ratio stood at 15.01 and 27.97 respectively.

Tech giant HCL Technologies Ltd said that the company has inked an offshore agreement with the New Zealand administration.

The company said that the three year contract from abroad is for the development of IT infrastructure for New Zealand's prison system.

The scope of the order placed by the Department of Corrections in New Zealand comprises development of IT infrastructure in addition to apps for preserving detailed reports of inmates'.

Moreover, the $35 Indian tablet computer (Sakshat) will hit markets by the first month of the coming year (Jan 2011).

As per the country's Human Resource Development ministry, HCL Tech will help them to strengthen the role of technology in the field of education.

After going through hardships, the company is back to growth path.