Buy HCL Tech For Target Rs 355

HCL Tech Intraday Buy CallStock market analysts have maintained 'buy' rating on HCL Technologies Ltd with an intraday target of Rs 355.

According to them, interested traders can purchase the stock above Rs 348 with a strict stop loss of Rs 343.

If the bourses remain on the positive track, then the stock price will hit a target above Rs 358.

Shares of the company, on Monday (Dec 07), closed at Rs 346 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 350.50 and a low of Rs 89.10 on BSE.

Current EPS & P/E ratio of the stock stood at 23.35 & 14.89 respectively.

HCL Technologies has signed up a SAP implementation engagement with Sahara Petroleum Services Company (Sapesco).

Sapesco is a multi-disciplined petroleum services company offering services to oil and gas majors in the Middle East and North Africa (MENA) area.

This implementation covers Sapesco's occurrence in Egypt, Libya and Syria.

HCL AXON, a subsidiary of HCL Technologies, declared that the company has named Jonathan Bobalik as the global vice president of insurance.

Jonathan will look after the strategic growth of HCL AXON within the insurance business.

HCL Technologies, in Nov 2009, received a service deal worth $200 million from Equitable Life Assurance Society.

The contract, which starts in March 2011, aims to deliver cost advantages to Equitable Life's clients via the transfer of core processing and support activities needed to direct its closed book of business.