Basu Banerjee, Auto & Ancillaries, IT Analyst at Quant Capital told CNBC-TV18, "We will be valuing HCL Technologies around 14 times FY15 earnings and on that level it ideally should reach levels of around Rs 1,500 and remember this is a June year ending entity. So earlier we started valuing HCL Tech some 12 times forward earnings and if you look at the fantastic margin execution, delivery, dollar revenue growth, one of the industry leading numbers definitely it has been catching up to the peer set."
"Tata Consultancy Services (TCS) and Infosys trading around 18-19 times and HCL Tech can easily touch Rs 1,500 even at 14 times, so the element of rerating for HCL Tech has been going on and is continuing on the back of robust set of numbers and you can see the positive confidence for the numbers going ahead," he added.
On January 16, 2014 HCL Technologies ended at Rs 1,391.90, up Rs 56.50, or 4.23 percent. It has touched a 52-week high of Rs 1,398.30.
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