Buy HCL Tech(Fundamental Call On Dec04,08)

Co Name: HCL Tech Reco: Buy
CMP: Rs 120 (around)
Best Buy Level: Dip around Rs 112-115 (accumulate at this level)
Target Price: Rs 135 (1-3 months), Rs 170 (6-12 months)

Investment Rational:
1. Fundamentally, The company is back on track in Q2nd of this year. In fact company has registerd growth in its operating profit in Sep Quarter YoY, this also when global scenario is very gloomay. Still, the co. has PBITA margin and PAT margin above 20%. Another positive thing is, it is almost debt free company. At the same time, it has Div Yield
2. HCL which is widely acknowledged as a pioneer and a leader in global delivery of infrastructure management, has received a 'Positive' rating in Gartner's MarketScope for Remote Monitor Services (Global)' and MarketScope for Remote Support Services (Global). HCL was one of 26 vendors evaluated for the remote support services report and one of 27 for the remote monitoring report.

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