Mayuresh Joshi of Angel Broking told CNBC-TV18, "HCL Technologies has run-up over the past few quarters on robust quarterly performances, which the stock is giving quarter after quarter. Again this quarter the dollar revenue growths will be exceptionally good at 4 percent quarter on quarter growth. I think the IMS revenues grew by 6 percent, the other businesses revenues in dollar terms grew by 3 percent. The EBIT margins did surprise at 23.7 percent, while our expectations were close to 23.2 percent. So, on all parameters HCL Tech has outperformed."
He further added, "The stock is in an outperformance mode and for long-term with a 15-18 month view, I think it would be a right time to buy the stock. If one is having a short-term view, I think one should wait for declines. We are giving an EPS upgrade of Rs 96 on the stock FY15 estimates which means that the stock should be around Rs 1500-1520 odd in the next 9-12 months."
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