HCL Tech gains after winning order from Sydney Trains

HCL Technologies rose 1.59% to Rs 1,670.05 at 11:39 IST on BSE after the company announced that it has been selected by Sydney Trains as a strategic partner to provide bespoke systems support services.

The announcement was made during market hours today, 3 September 2014.

Meanwhile, the BSE Sensex was up 155.61 points, or 0.58% at 27,175.

On BSE, so far 27,572 shares were traded in the counter, compared with an average volume of 52,550 shares in the past one quarter.

The stock hit a high of Rs 1,672, also a record high for the stock. The stock hit a low of Rs 1,645.10 so far during the day. The stock hit a 52-week low of Rs 985 on 16 September 2013.

The stock had outperformed the market over the past one month till 2 September 2014, rising 8.47% compared with 6.04% rise in the Sensex. The scrip also outperformed the market in past one quarter, jumping 18.94% as against Sensex's 9.46% rise.

The large-cap company and IT services provider has an equity capital of Rs 140.10 crore. Face value per share is Rs 2.

HCL will provide end-to-end application management and support services to transform Sydney Trains' IT landscape. Leveraging its integrated service delivery framework MaSCOT (Managed Services with Continuous improvement to Transformation) and ALT ASM, HCL will provide application development, support and maintenance services to support business and IT users improving application stability and availability for Sydney Trains..HCL will use its ASSeT Transition framework to ensure a seamless and risk free transition with zero business disruption. HCL will also be responsible for optimising the company's application portfolio in alignment with business processes across its Australian operations.

On a consolidated basis, HCL Technologies' net profit as per US-GAAP rose 13% to Rs 1834 crore on 0.9% increase in revenue to Rs 8424 crore in Q4 June 2014 over Q3 March 2014.

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