Tuesday, 15 September 2009

Buy HCL Tech, target of Rs 346: Motilal Oswal

Motilal Oswal has recommended a buy rating on HCL Technologies with a target price of Rs 346 in its September 8, 2009 research report.

"On an EV/EBITDA basis the stock is quoting at 8.4x FY10E and 7.6x FY11E. We recommend a Buy with a target price of Rs 346, based on 14x FY11E earnings, implying a discount of 30% to our target multiple for Infosys," says Motilal Oswal's research report.

Source: Moneycontrol

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