Analysts' corner

HCL TECHNOLOGIES
Reco price/date: Rs 571/September 20
Current/target price: Rs 567/NA
HCL Tech has bagged a five-year contract from US-based Freescale Semiconductor to manage its information technology infrastructure across the world. As part of the deal, HCL Tech would manage and transform infrastructure operations across desktop support, computing, storage, database, telecom (network and security), process automation and compliance. According to media reports, the contract would generate about $60-$80 million for HCL Tech over a five-year period, starting November. The company declined to comment on the size of this deal. HCL Tech's infrastructure services business is the company's fastest-growing business segment. Angel Broking remains positive on the stock, but maintains a 'Neutral' view on it, given the recent stock run-up.

Angel Broking