Buy HCL Technologies; target of 427: IIFL


Bangalore: IIFL is bullish on HCL Technologies and has recommended buy rating on the stock with a target of 427. According to IIFL, Thursday's volume action in the counter was quiet encouraging and has crossed above its last three day average. HCL Technologies, along with its subsidiaries, is primarily engaged in providing a range of information technology, business process outsourcing (BPO) and infrastructure services. The Company delivers solutions across verticals, including aerospace and defense, automotive, energy and utilities, financial services, government, life sciences, healthcare, media and entertainment, retail and consumer, telecom, travel, transportation and logistics. The Company's infrastructure management services involve the sale of networking equipment and software, installations and provision of access and maintenance services. IIFL says, Relative Strength Index (RSI) also exhibits strength in the short term and has been successful in holding above the levels of 50. With the recommendation target price of 427, if the stock is bought at Thursday's closing price of 411.85, the percentage of gain would be 3.54 percent.