HCL Technologies gained 1.47% to Rs 348.70 at 9:55 IST on BSE, after the company secured an overseas contract worth $200 million.The company announced the new order win after trading hours on Monday, 23 November 2009.
Meanwhile, the BSE Sensex was down 34.27 points, or 0.20%, to 17,145.91.
On BSE, 7,526 shares were traded in the counter as against an average daily volume of 2.64 lakh shares in the past one quarter.
The stock had hit a high of Rs 350 and a low of Rs 346 so far during the day. The stock had hit a 52-week high of Rs 350.50 on 17 September 2009 and a 52-week low of Rs 89.10 on 12 March 2009.
The large-cap stock had outperformed the market over the past one month till 23 November 2009, gaining 5.58% as compared to the Sensex’s return of 2.20%. It had also outperformed the market in the past one quarter, rising 22.78% as compared to the Sensex’s return of 12.72%.
The company’s equity capital is Rs 134.52 crore. Face value per share is Rs 2.
The current price of Rs 348.70 discounts the company’s Q1 September 2009 annualized EPS of Rs 17.92, by a PE multiple of 19.46.
HCL Technologies has secured the latest order from UK based Equitable Life Assurance Society for providing an end to end solution including policy administration, finance, actuarial services, information technologies (IT) operation, support and call center services. The contract will start from March 2011.
Equitable Life Assurance Society is a UK life office with over 8 billion pounds sterling under management on behalf of more than five lakh policyholders and members of group pension schemes.
Late last week, HCL Technologies said it had opened a global development center in Brazil to service the growing client base in Latin America, North America and Europe.
HCL Technologies had on 21 October 2009 tied up with US software giant Microsoft to provide retail banking solution to help banks in the Asia-Pacific region. The retail banking solution will address the need of regional banks recovering from the recent economic and financial crisis, to achieve rapid IT enabled productivity gains in CRM amid increased competition in the retail and the fast growing wealth management sectors.
HCL Technologies had in September 2009 bagged a five-year transformational IT infrastructure management contracts aggregating $113 million from two power companies based in Texas, US.
HCL Technologies’ net profit surged 55.88% to Rs 300.75 crore on 8.88% rise in net sales of Rs 1247.32 crore in Q1 September 2009 over Q4 June 2009.
HCL Technologies is a global technology and software services company offering software services, business process outsourcing services and infrastructure management services.
Source:http://www.indiainfoline.com/Markets/News/News.aspx?NewsId=356182
