HCL Tech recovers after 2-day 6.6% slide

HCL Technologies rose 2.33% to Rs 760.75 at 13:05 IST on BSE, with the stock recovering on bargain hunting after 2-day 6.61% slide.

Meanwhile, the S&P BSE Sensex was down 60.47 points or 0.33% at 18,449.23.

On BSE, 40,000 shares were traded in the counter as against average daily volume of 87,619 shares in the past one quarter.

The stock hit a high of Rs 761.90 and a low of Rs 740.10 so far during the day. The stock had hit a record high of Rs 807 on 3 April 2013. The stock had hit a 52-week low of Rs 453.90 on 26 June 2012.

The stock had outperformed the market over the past one month till 4 April 2013, rising 3.99% compared with the Sensex's 1.95% fall. The scrip had also outperformed the market in past one quarter, surging 17.28% as against Sensex's 6.44% fall.

The large-cap IT company has equity capital of Rs 139.22 crore. Face value per share is Rs 2.

Shares of HCL Technologies had declined 6.61% in two trading sessions to settle at Rs 743.40 on Thursday, 4 April 2013, from a recent high of Rs 796.10 on 2 April 2013.

HCL Technologies on 3 April 2013 said that the company is collaborating with North Carolina New Schools -- a statewide public-private catalyst for education innovation -- to create and promote science, technology, engineering and math (STEM) programs and get college students ready for the 21st century workforce. HCL will design an online technology hub which will serve as a central gathering place for featured content and discussion between teachers, principals, school staff, students, counselors, college liaisons, district office superintendents and NC New Schools administration staff. NC New Schools will leverage HCL's services for content creation and management of its collaborative, online community offering access to tools and resources required to accelerate systemic, sustainable innovation in schools. NC New Schools will move approximately 3,000 NC New Schools intranet users to the new technology hub, HCL Tech said.

HCL Technologies' consolidated net profit rose 9% to Rs 964.70 crore on 3% growth in sales to Rs 6273.80 crore in Q2 December 2012 over Q1 September 2012.

HCL Technologies is one of the leading global IT services companies. The company offers an integrated portfolio of services, including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. It has a network of offices in 31 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare.

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