HCL Tech moves higher after securing IT contract in Australia

HCL Technologies rose 0.7% to Rs 788 at 11:48 IST on BSE after the company said it has secured a contract to provide application management services for Western Australia's leading energy provider, Synergy.

The announcement was made during market hours today, 14 September 2016.

Meanwhile, the S&P BSE Sensex was down 47.97 points or 0.17% at 28,305.57.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 2.04 lakh shares in the past one quarter. The stock hit a high of Rs 794.50 and a low of Rs 782.85 so far during the day. The stock had hit a 52-week high of Rs 985.50 on 30 September 2015. The stock had hit a 52-week low of Rs 706.50 on 11 May 2016. The stock had underperformed the market over the past one month till 12 September 2016, sliding 3.67% compared with 0.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 4.44% as against Sensex's 6.45% rise.

The large-cap company has equity capital of Rs 282.18 crore. Face value per share is Rs 2.

Under the terms of the contract, HCL Technologies will transform and support Synergy's digital and business applications landscape enabling consolidation and rationalisation in the changing energy environment.

On a consolidated basis, HCL Technologies' net profit rose 5.94% to Rs 2055.20 crore on 5.96% growth in net sales to Rs 11336.32 crore in the quarter ended 30 June 2016 over the quarter ended 31 March 2016.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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