HCL Tech rises after launching next generation research platform

HCL Technologies rose 0.96% to Rs 850.15 at 14:00 IST on BSE after the company announced the launch of its next generation research platform, a pre-competitive drug discovery ecosystem built with open standards.

The announcement was made during market hours today, 20 June 2017.

Meanwhile, the S&P BSE Sensex was up 6.59 points, or 0.02% to 31,318.16.

On the BSE, 19,234 shares were traded in the counter so far, compared with average daily volumes of 4.5 lakh shares in the past one quarter. The stock had hit a high of Rs 852 and a low of Rs 842 so far during the day. The stock had hit a 52-week high of Rs 908.40 on 6 June 2017. The stock had hit a 52-week low of Rs 708 on 29 June 2016.

The stock had underperformed the market over the past one month till 19 June 2017, falling 0.46% compared with 2.78% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 2.68% as against Sensex's 5.61% gains. The scrip had also underperformed the market in past one year, gaining 11.9% as against Sensex's 17.6% gains.

The large-cap IT company has equity capital of Rs 285.40 crore. Face value per share is Rs 2.

HCL Technologies said that the platform will provide research scientists with a collaborative ecosystem, greater computational resources, and the ability to mine research data to make more informed scientific decision, while improving productivity by automating and eliminating manual administrative tasks.

The NGRP is designed to alleviate the technological, economic, and administrative costs that legacy systems and aging technologies pose to Pharma companies.

HCL Technologies' consolidated net profit rose 20% to Rs 2475.27 crore on 9.17% increase in net sales to Rs 12897.80 crore in Q4 March 2017 over Q3 December 2016.

HCL Technologies is a global IT services company.

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