HCL Technologies advances as CRISIL upgrades credit rating

Don't want to miss the best from Business Standard?

HCL Technologies gained 1.93% to Rs 1,544.80 at 10:31 IST on BSE after a credit rating firm upgraded the credit rating of the company in respect of the Secured, Non-Convertible Debentures of the company.

The announcement was made after market hours on Friday, 1 August 2014.

Meanwhile, the BSE Sensex was up 66.26 points, or 0.26%, to 25,547.10

On BSE, so far 4,784 shares were traded in the counter, compared with an average volume of 58,617 shares in the past one quarter.

The stock hit a high of Rs 1,553.40 and a low of Rs 1,517.80 so far during the day. The stock hit a record high of Rs 1,630 on 30 July 2014. The stock hit a 52-week low of Rs 872 on 22 August 2013.

The stock had outperformed the market over the past one month till 1 August 2014, rising 0.94% compared with 0.14% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 7.97% as against Sensex's 13.66% rise.

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

HCL Technologies said that CRISIL has upgraded the credit rating of the company in respect of the Secured, Non-Convertible Debentures of the company to CRISIL AAA/Stable from CRISIL AA+/Stable.

HCL Technologies' consolidated net profit rose 21.52% to Rs 1973.51 crore on 6.11% fall in total income to Rs 7965.06 crore in Q4 June 2014 over Q3 March 2014.

HCL Technologies is a leading global IT services company. HCL leverages its extensive global offshore infrastructure and 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 & Life sciences.

Powered by Capital Market - Live News