Buy HCL Technologies on dips: Anu Jain

Anu Jain, Sr Vice President - IIFL Private Wealth Management is of the view that one can buy HCL Technologies on dips.

Jain told CNBC-TV18, "If you look at the charts the way they have closed on Friday, so whether it's a Wipro or Infosys, on the charts both are giving a fresh move up along with HCL Tech. So HCL Technologies has closed around those levels of about Rs 492 support, I think I would buy the dips up to Rs 480 because Rs 530 seems to be where it's poised. This is a swing call; this is not a call for day or two days and there is scope to buy the IT sector on the down move if today or tomorrow."

The company's trailing 12-month (TTM) EPS was at Rs 15.28 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 31.90. The latest book value of the company is Rs 84.67