HCL Tech Intraday Buy Call

HCL Tech Intraday Buy CallStock market analysts have maintained ‘buy’ rating on HCL Technologies Ltd with an intraday target of Rs 347.

According to them, interested traders can purchase the stock above RS 345 with a strict stop loss of Rs 342.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 350.

Shares of the company, on Wednesday (Nov 25), closed at Rs 342.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 347 and a low of Rs 89.10 on BSE.

Current EPS & P/E ratio of the stock stood at 23.35 & 14.57 respectively.

HCL Technologies Limited (HCL) declared a strategic affiliation with Savvion to expand its services in BPM space.

With this, both the companies would be capable of assisting clients execute and optimize business operations across the organization.

HCL Technologies, on Nov 23, stated that it bagged a deal worth $200 million from British insurer Equitable Life.

The contract starts in March 2011, HCL announced in a declaration, but the Indian company would obtain 8 million pounds by then as it starts work in the direction of the execution of the project.

While the contract functions for thirty years, the majority of the revenue would accumulate during the first eight years.

On Nov 20, HCL Technologies announced that it has opened a worldwide IT development centre in Sao Leopoldo, Brazil, to fulfill the needs of its customers across Latin America

The IT development centre, which compliments HCL's functionings in Sao Paulo, is likely to appoint more than 300 engineers by the next three years.

The centre will provide different services that comprise business application services, custom applications growth and maintenance, and distant infrastructure management to customers mainly in Latin America, North America and Europe.