Sharekhan Investor's Eye dated November 14, 2006

[Sunil]

 

Investor's Eye [November 14, 2006] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents STOCK UPDATE HCL Technologies Cluster: Ugly Duckling Recommendation: Buy  Price target: Rs720 Current market price: Rs628 A pact with Celestica HCL Technologies (HCLT) has entered into an agreement with Celestica Inc. to form a joint venture that would offer complete concept-to-manufacture solutions to original equipment manufacturers (OEMs) globally. Celestica is one of the leading electronic manufacturing service (EMS) companies globally and also has expertise in supply chain management. The idea behind the joint venture is to leverage Celestica's strengths (in manufacturing and supply chain management) jointly with HCLT's capabilities in the engineering service space (that includes product design services) to provide an innovative offering (end-to-end solution) to the OEMs globally.

Regards, The Sharekhan Research Team myac...@sharekhan.com

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