HCL Infosystems jumps 11.8% in two days

HCL Infosystems rose 5.93% to Rs 35.75 at 11:13 IST on BSE, with the stock extending Tuesday's gains triggered by the company announcing a strategic distribution partnership with Dell India.

Meanwhile, the S&P BSE Sensex was up 127 points or 0.48% at 26,813.51.

On BSE, so far 5.96 lakh shares were traded in the counter as against average daily volume of 4.85 lakh shares in the past one quarter.

The stock hit a high of Rs 36 and a low of Rs 34.25 so far during the day. The stock had hit a 52-week high of Rs 94.50 on 22 September 2014. The stock had hit a 52-week low of Rs 30.65 on 16 June 2015.

The stock had underperformed the market over the past one month till 16 June 2015, sliding 18.77% compared with the Sensex's 2.33% fall. The scrip had also underperformed the market in past one quarter, declining 39.62% as against Sensex's 6.16% fall.

The small-cap company has equity capital of Rs 44.58 crore. Face value per share is Rs 2.

Shares of HCL Infosystems have rallied 11.89% in two trading sessions from Rs 31.95 on 15 June 2015, after the company during market hours yesterday, 16 June 2015, announced a strategic distribution partnership with Dell India. The stock had risen 5.63% to settle at Rs 33.75 yesterday, 16 June 2015. Under the partnership, HCL Infosystems will leverage its pan-India network of partners to distribute Dell's entire hardware and software products. The strategic partnership will significantly widen the reach of Dell's products especially in tier 2 and tier 3 locations across the country. The partnership also involves comprehensive Go-to-Market initiatives and activities.

On consolidated basis, HCL Infosystems reported net loss of Rs 47.16 crore in Q3 March 2015, lower than net loss of Rs 50.82 crore on Q2 December 2014. Net sales declined 5.12% to Rs 1376.19 crore in Q3 March 2015 over Q2 December 2014.

HCL Infosystems is India's premier IT services, solutions & distribution company enabling organizations to attain and sustain competitive advantage by leveraging information and communication technologies.

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