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Buy HCL Tech, target of 
375: IndiaInfoline
By
SiliconIndia,Thursday, 10 December 2009, 22:39 Hrs
Mumbai: IndiaInfoline (IIFL) is bullish on HCL Technologies and has recommended buy rating on the stock with a target of 
375. According to the brokerage, despite extreme volatility in the broader market, the stock has managed to hold on the support of its short-term moving averages. On Wednesday, the stock closed above stiff resistance zone around 350-354.
HCL Technologies is primarily engaged in providing a range of software services, business process outsourcing (BPO) and infrastructure services. Recently, HCL announced a five-year deal with media conglomerate News Corp for managing its data centres and IT across UK newspapers like The Times, The Sun and The Sunday Times. Under the deal, HCL will be transforming News Corp's UK subsidiary News International's data centres and migrating its operating systems to a lower cost solution. The deal is pegged to be in the range of $200-250 million, according to industry experts.
IIFL also said that the volumes of HCL stock have also picked up substantially as the stock breached the crucial resistance levels. Also, the momentum indicators are above neutral levels and are exhibiting the positive trend to continue. With the recommended target price of 375, if the stock is bought at Thursday's closing price of 349, the percentage of gain would be 7.44 percent.
375. According to the brokerage, despite extreme volatility in the broader market, the stock has managed to hold on the support of its short-term moving averages. On Wednesday, the stock closed above stiff resistance zone around 350-354.
HCL Technologies is primarily engaged in providing a range of software services, business process outsourcing (BPO) and infrastructure services. Recently, HCL announced a five-year deal with media conglomerate News Corp for managing its data centres and IT across UK newspapers like The Times, The Sun and The Sunday Times. Under the deal, HCL will be transforming News Corp's UK subsidiary News International's data centres and migrating its operating systems to a lower cost solution. The deal is pegged to be in the range of $200-250 million, according to industry experts.
IIFL also said that the volumes of HCL stock have also picked up substantially as the stock breached the crucial resistance levels. Also, the momentum indicators are above neutral levels and are exhibiting the positive trend to continue. With the recommended target price of
375, if the stock is bought at Thursday's closing price of 349, the percentage of gain would be 7.44 percent.
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Reader's comments (4)
1: In this article we shall be discussing about
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Investing in securities can be profitable
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Posted by: Online Dating - 29 Mar, 2010
3: The HCL stock has been doing good these days
and this recommendation can help the
investors..
Posted by: Naresh - 10 Dec, 2009
4:No Apart,employee raise normally far away
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corner memory attend task match must
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issue little picture enterprise advise her
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Online Dating replied to: Naresh
post - 29 Mar, 2010
post - 29 Mar, 2010
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