HCL Tech hits record high

HCL Technologies surged 4.46% to Rs 1,708.80 at 10:54 IST on BSE after the company said it plans to expand its existing center and create an additional 1,237 jobs in Cary, United States by the end of 2018.

The announcement was made before market hours today, 19 September 2014.

Meanwhile, the S&P BSE Sensex was up 93.48 points or 0.34% at 27,205.69.

On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 44,000 shares in the past two weeks.

The stock hit a high of Rs 1,709 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,636.90 so far during the day. The stock had hit a 52-week low of Rs 996.05 on 19 September 2013.

As part of its strategy to accelerate innovation and further enhance satisfaction for its clients, HCL Technologies sees Cary as a strategic talent hub in the Americas and will invest approximately $9 million in expanding the center, the company said in a statement. The company continues to invest in its global delivery footprint in order to enhance value for its clients by developing nearshore capabilities, HCL Technologies added.

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

HCL Technologies is a leading global IT services company. The company offers software-led IT solutions, remote infrastructure management, engineering and R&D services and business services. HCL has a global network with offices in 31 countries servicing industries such as telecoms, media & entertainment, retail, financial services, manufacturing, public services, healthcare & life sciences.

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