See selling in HCL Tech at higher levels: Rajen Shah

HCL Technologies looks good. But the stock has run up a lot. So probably one could see a small rise, but also see selling at that level because the stock has run up a lot since the Infosys numbers also came out, says Rajen Shah, CIO, Angel Broking.
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Jan 17, 2013, 09.41 AM | Source: CNBC-TV18

See selling in HCL Tech at higher levels: Rajen Shah

HCL Technologies looks good. But the stock has run up a lot. So probably one could see a small rise, but also see selling at that level because the stock has run up a lot since the Infosys numbers also came out, says Rajen Shah, CIO, Angel Broking.

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See selling in HCL Tech at higher levels: Rajen Shah

HCL Technologies looks good. But the stock has run up a lot. So probably one could see a small rise, but also see selling at that level because the stock has run up a lot since the Infosys numbers also came out, says Rajen Shah, CIO, Angel Broking.

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HCL Technologies looks good. But the stock has run up a lot. So probably one could see a small rise, but also see selling at that level because the stock has run up a lot since the Infosys numbers also came out, says Rajen Shah, CIO, Angel Broking.

Shah told CNBC-TV18, "HCL Technologies numbers look good because revenue has been a little more than what we had expected and the profitability has also little more exceeded what we had expected. So, on the face of it certainly looks good. But we need to keep in mind that the stock has run up a lot. So probably we could see a small rise, but we could also see selling at that level because the stock has run up a lot since the Infosys numbers also came out."

The share touched its 52-week high Rs 681.40 and 52-week low Rs 408.50 on 15 January, 2013 and 16 January, 2012, respectively.

Currently, it is trading 1.05% below its 52-week high and 65.06% above its 52-week low.
 
Market capitalisation stands at Rs 46,830.83 crore.

The company's trailing 12-month (TTM) EPS was at Rs 24.22 per share. (Sep, 2012). The stock's price-to-earnings (P/E) ratio was 28.94. The latest book value of the company is Rs 95.08 per share. At current value, the price-to-book value of the company was 7.37. The dividend yield of the company was 1.71%.

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See selling in HCL Tech at higher levels: Rajen Shah

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