HCL Technologies a performer: ICICIdirect.com

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HCL Technologies a performer: ICICIdirect.com

ICICIdirect.com has rated HCL Technologies as a performer with a target of Rs 127. HCLT reported Q2FY09 numbers with net sales of Rs 2490.8 crore (5.1% QoQ growth) and PAT of Rs 373.3 crore both marginally above expectations.

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ICICIdirect.com has rated HCL Technologies as a performer with a target of Rs 127 in its January 28, 2009 research report. "HCL Technologies (HCLT) reported Q2FY09 numbers with net sales of Rs 2490.8 crore (5.1% QoQ growth) and PAT of Rs 373.3 crore both marginally above our expectations. The results included revenues from Axon of Rs 86.7 crore for 15 days ending December. Operationally, the quarter was good with HCLT expanding its EBIDTA margin by 10 bps. HCLT signed 20 deals in the quarter totalling USD billion of which most are spread over three to five years except one which is spread over seven. We rate the stock as PERFORMER," says ICICIdirect.com's research report.

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