eClerx Services surges after Q2 results, bonus issue

eClerx Services rose 3.32% to Rs 1,871.80 at 10:42 IST on BSE after consolidated net profit rose 26.59% to Rs 92.72 crore on 10.13% growth in net sales to Rs 328.51 crore in Q2 September 2015 over Q1 June 2015.

The result was announced after market hours yesterday, 2 November 2015.

Meanwhile, the S&P BSE Sensex was up 119.48 points or 0.45% at 26,678.63.

On BSE, so far 9,036 shares were traded in the counter as against average daily volume of 10,640 shares in the past one quarter.

The stock hit a high of Rs 1,926.95 and a low of Rs 1,867.15 so far during the day. The stock had hit a record high of Rs 1,949.15 on 23 October 2015. The stock had hit a 52-week low of Rs 1,172.30 on 10 December 2014.

The stock had outperformed the market over the past one month till 2 November 2015, surging 15.03% compared with Sensex's 1.29% rise. The scrip had also outperformed the market in past one quarter, jumping 20.98% as against Sensex's 5.53% fall.

The mid-cap company has equity capital of Rs 30.49 crore. Face value per share is Rs 10.

eClerx Services had acquired the entire shareholding of CLX Europe S.P.A a joint stock company based in Italy effective 22 April 2015 through its overseas subsidiary eClerx Investment (UK). Accordingly, the consolidated financial results for the quarter and half year ended 30 September 2015, also include the results of CLX Europe S.P.A for the period post acquisition and hence results are not comparative to that extent.

eClerx Services' board of directors at a meeting held yesterday, 2 November 2015, recommended for issue of bonus shares in the ratio of 1:3 i.e. one bonus share for every three existing shares held in the company.

eClerx Services is a leading knowledge process outsourcing (KPO) company providing middle/back office operations support to over 30 Fortune 500 companies. Its five delivery centers across India support a diverse global client base, including the world's leading financial services, broadband, cable & telecom, ecommerce & retail, high tech, industrial manufacturing & distribution, software, media & entertainment and travel companies.

Powered by Capital Market - Live News