Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on HCL Tech to achieve a short term target between Rs 239 – Rs 260.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 206.

The shares of the company on Wednesday (July 22) closed at Rs 217.15 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 117,726 at the BSE. The stock hit an intraday high of Rs 232.85 and a low of Rs 216 on BSE.

The share price has seen a 52-week high of Rs 261 and a low of Rs 89.10 on BSE. Current EPS and P/E of the stock stood at 11.80 & 18.40 respectively.

HCL Axon, a division of HCL Technologies, on July 17, has inked a strategic deal with UCS Group and a take over of the UCS Group’s enterprise solutions SAP practice.

The carve-out deal involves an all cash consideration of $7.7 million and an earn-out by 2011.

UCS’s SAP practice provides Tier 1 Retail and wholesale SAP project implementations.

This affiliation will permit UCS Group to develop its annuity services business globally and would enhance the company’s market attendance in South Africa.

HCL Technologies (HCL), on July 17, declared that it will offer IT application and infrastructure operations and management for Dr Pepper Snapple Group, a top manufacturer of flavored beverages.

Under the 5-year contract, the company will also deliver managed print services for DPS.

In June 2009, HCL Tech’s wholly-owned German subsidiary, HCL GmbH Germany has inked a multi-year, multi-regional SAP ERP support services and projects contract with the The Linde Group.