HCL Tech gains after acquisition of ETL Factory

HCL Technologies rose 1.38% to Rs 871 at 9:20 IST on BSE after the company said it has agreed to buy ETL Factory, a UK-based company.

The announcement was made after market hours yesterday, 5 September 2017.

Meanwhile, the S&P BSE Sensex was down 184.65 points or 0.58% at 31,624.90.

On the BSE, 6,620 shares were traded on the counter so far as against the average daily volumes of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 870.95 and a low of Rs 862.20 so far during the day. The stock had hit a 52-week high of Rs 926 on 27 July 2017 and a 52-week low of Rs 731.05 on 15 November 2016.

The stock had underperformed the market over the past one month till 5 September 2017, sliding 3.54% compared with the Sensex's 1.6% fall. The stock had also underperformed the market over the past one quarter, gaining 0.12% as against the Sensex's 1.6% rise. The scrip had also underperformed the market over the past one year, advancing 9.54% as against the Sensex's 11.49% rise.

The large-cap company has equity capital of Rs 278.40 crore. Face value per share is Rs 2.

HCL Technologies said it has agreed to buy ETL Factory, doing business as Datawave, a UK-based company that has created an innovative data automation platform which enables enterprise customers execute large scale, complex data-migration and data-integration projects in a leaner, faster and smarter way. The flagship product Datawave, won the Informatica Innovation Award and is also extendable to other platforms, including big data.

On a consolidated basis, HCL Technologies' net profit fell 10.67% to Rs 2210 crore on 5.8% decline in net sales to Rs 12149 crore in Q1 June 2017 over Q4 March 2017.

HCL Technologies is a global IT services company.

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