Accumulate HCL Tech, target of Rs 258: P Lilladher

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Accumulate HCL Tech, target of Rs 258: P Lilladher

Prabhudas Lilladher has recommended an accumulate rating on HCL Technologies with a 12-month target of Rs 258. HCL Technologies (HCLT) entered the fray to acquire Axon, by submitting a counter offer of 650p per share to Infosys’ 600p per share.

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Prabhudas Lilladher has recommended an accumulate rating on HCL Technologies with a 12-month target of Rs 258 in its September 29, 2008 research report. "HCL Technologies (HCLT) entered the fray to acquire Axon, by submitting a counter offer of 650p per share to Infosys' 600p per share. This values Axon at GBP441 million and is a premium of 8.3% to Infosys' offer. We expect Infosys to improve its 600p offer to either match or exceed HCLT, Accumulate,target of Rs 258," says Prabhudas Lilladher's research report.

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