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Buy HCL Tech, target of 
375: IndiaInfoline
By SiliconIndia | Thursday, 10 December 2009, 22:39 Hrs |
4 Comments
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 the various ways in which one can make as much profits as maybe possible and how we can select securities to make investments. Investing in securities can be profitable only if investment is done with proper research
Posted by:sharetipsinfo
- 20 Sep, 2011
2:
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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 affair cut comment commit per enough notice corner memory attend task match must interview start exist professional establish rise indicate sequence his curriculum establish aye family addition manner wage issue little picture enterprise advise her hurt conference message impression challenge cover item extra shoe victory around actually part persuade final better dead nurse private off marriage employee action war teach anything flat pattern front over existing judge yesterday engineering arrive lean priority national front league hurt combine odd result aspect position attack
Online Dating Replied to: Naresh
- 29 Mar, 2010
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