BUY HCLTECH FUTURE ABOVE
827
TARGET 833/842 SL 815
SELL
HCLTECH FUTURE BELOW 824
TARGET 818/809 SL 836
Today market remain in the red with bank & financials as top
drags as investors' risk appetite is hit by concerns over rising covid-19
cases. Sensex closed 300 points lower at 37734 while nifty ended at 11153 with
a loss of 97 points.it and telecom are among the sectors that have attracted
investors' attention in the times of covid-19 as both sectors offer bright
prospects of growth while the world's dependence on technology increases.
In IT player hcl
technologies jumped 41% today while
the nifty was 7% down. This week hcl
tech after opening at 790.05 stock touched high of 849.25 & low of 782.20.
Hcl technologies is planning to double headcount in smaller towns, including
fresh hires and relocation of existing employees over a two-three year
period.hcl tech’s earlier revenue growth guidance of 2% on average for the
remaining quarters of fy21 implied a
revenue decline in the range of 0.8-2.3 % for the year.this is a very positive
signal, especially in the current economic climate and indicates strong
recovery.
We expect hcl tech to better navigate the current crisis and emerge stronger
due to an expected increase in enterprise demand for digital services. Our
confidence partly stems from the company’s historical track record of adapting
to multiple business challenges and technology change cycles.