HCL Technologies hits new high on fixing record date for bonus issue

The stock hit a record high of Rs 2,095 after fixing March 20 as record date for 1:1 bonus issue.

Shares of HCL Technologies were trading higher by 2.5% at Rs 2,095, also its new high on NSE, after the company said it has fixed March 20 as record date for issue of bonus shares.

“The company has fixed record date as March 20, 2015 for the purpose of issue of bonus shares on the company’s equity shares in the ratio of 1:1 i.e. one additional equity share for every one equity share held,” HCL Technologies said in a statement.

The stock will turn ex-bonus on March 19, 2015, it added.

Shares of HCL Technologies have outperformed the market by surging 27% from Rs 1,649 on January 29, after the company announced issue of bonus shares to its existing shareholders. The benchmark CNX Nifty was down 2.7%, while CNX IT sector index up 5% during the same period.

Meanwhile, in another regulatory filing, IT service provider HCL Technologies said that the company and Aegon, a life insurance, pensions and asset management company, have opened their joint cXstudio to better customer experience by adopting digital technologies.

Aegon aims to manage financial future of its customers through digital channels including mobility, it added.