Buy HCL Technologies With Target Of Rs 493

Buy HCL Technologies With Target Of Rs 493Technical analyst Salil Sharma has maintained 'buy' rating on HCL Technologies Limited stock with a target of Rs 493.

According to analyst, the investors can buy the stock with a stop loss of Rs 468.

The stock of the company, on January 17, marked its closure at Rs 475.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 492.40 and a low of Rs 330 on BSE.

Current EPS & P/E ratio stood at 13.45 and 36.04 respectively.

HCL Technologies is betting on growing market with the aim to increase its income by the coming years.

IT firms like HCL Technologies get the big portion of their biz from the United States as well as European markets by providing services that comprises computer software and back-office aid at a fraction of cost their customers in well-organized market zones would locally incur.

Virender Aggarwal, executive vice president and head of Asia-Pacific, Middle East and Africa at HCL Technologies, stated, "We are investing [in the emerging market] thinking that this market will grow faster than the rest of the world."

HCL Technologies declared that its board meet will take place on January 18 and January 19, 2011, inter-alia, to consider and approve the un-audited financial outcomes of for the quarter and half-year period completed on December 2010.

HCL board will also mull over the payment of 2nd Interim dividend.

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