Accumulate HCL Tech, target of Rs 330: Emkay

Published on Thu, Aug 27, 2009 at 11:23 |  Source : Moneycontrol.com

Updated at Thu, Aug 27, 2009 at 11:29  

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Accumulate HCL Tech, target of Rs 330: Emkay

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Emkay Global Financial Services has recommended an accumulate rating on HCL Technologies with a target price of Rs 330 in its August 25, 2009 research report.

 

"HCL Tech reported revenues of USD 607.2 million (+7.9% QoQ). Revenues in constant currency up 4% sequentially. Revenues in Applications business (+4.5% QoQ) to USD 441.5 million while IMS revenues jump up by 25.5% sequentially (included USD 7 million of pass through revenues). We are upping rating on HCL Tech to 'ACCUMULATE' with a target price of Rs 330," says Emkay Global Financial Services' research report.

 

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

 

To read the full report click on the attachment......

  

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