Hot Chips
Ali On Content / 31 Aug 2009
The stock price of the scrip has appreciated by over 28 per cent in the last one month. Thus investors can take exposure in the counter with a medium to long-term perspective.
HCL Tech
BSE Code: 532281
Volume: 608833
CMP: 301.55
The company has been in the media for all the good reasons in the past one week or more. It has registered better than expected results in Q1FY10. As per the company’s management, the environment continues to be uncertain but they anticipate a recovery in CY10. A leading broking house has given a buy call on the counter with a price target of Rs 380 in the coming period. As per a fund manager, the domestic IT sector is expected to do well owing to the recent signs of revival in the world’s major economies like US, Japan and UK. In the last few trading sessions the counter has witnessed significant addition of open interest, volumes and price in the futures and options space. The counter had also formed part of our recommendation in the last issue and it outpaced our expectations. The stock price of the scrip has appreciated by over 28 per cent in the last one month. Thus investors can take exposure in the counter with a medium to long-term perspective.
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