Hcl Technologies Volumes Surge To 80.55 Lakh Shares

Infotech service provider HCL Technologies posted its highest-ever volumes on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today. The company recorded a combined volume of 80.55 lakh shares on both the exchanges. At the NSE, the total shares traded were 53.14 lakh shares, while at the BSE 27.41 lakh shares changed hands.

The scrip was also on top of the list of most traded stocks in value terms on the exchanges today. The combined turnover was Rs 210.93 crore during the day. On the NSE, a total Rs 139.22 crore turnover was recorded, while on the BSE it was Rs 71.71 crore.

Turnover was high despite the stock declining by around 12 per cent on the exchanges today.

At NSE the stock closed 12.5 per cent down to Rs 255.15 against its previous close of Rs 291.50, while on the BSE it closed at Rs 256, lower by 11.8 per cent against its previous close price of Rs 290.25 .

The drop in counter was despite an excellent bottomline growth of 105 per cent to Rs 442.90 crore and 52 per cent in gross revenue of Rs 1405.10 crore for full year ended June '2001. Market sources attributes the bearish trend to current quarter performance wherein growth rates were much lower to its full-year growth rates.

For the quarter ended June 2001, the company booked a net profit growth of 49 per cent from Rs 83.20 crore to Rs 124.20 crore, while sales increased by 35 per cent from Rs 274.50 crore to Rs 369.20 crore.