HCL Technologies gains as board to consider bonus issue proposal

HCL Technologies gained 2.08% to Rs 1,672.10 at 09:51 IST on BSE after the company scheduled a board meeting to consider issue of bonus shares.

The announcement was made before market hours today, 19 January 2015.

Meanwhile, the S&P BSE Sensex was up 166.27 points or 0.59% at 28,288.16

On BSE, so far 51,191 shares were traded in the counter as against average daily volume of 60,436 shares in the past one quarter.

The stock hit a high of Rs 1,720 and a low of Rs 1,650 so far during the day. The stock hit a record high of Rs 1,775.40 on 7 October 2014. The stock hit a 52-week low of Rs 1,257 on 19 May 2014.

The large-cap IT firm has an equity capital of Rs 140.48 crore. Face value per share is Rs 2.

HCL Technologies said that the company's board of directors will consider issue of bonus shares along with Q2 December 2014 results in its board meeting scheduled to be held between 28 January 2015 to 30 January 2015.

On 22 December 2014, HCL Technologies in a pre-earnings brief had said that during Q2 December 2014, US dollar continued to strengthen against almost all global currencies like British Pound, Euro, AUD and so on. Since the company's revenues are derived in multiple currencies, the revenues for the quarter to be reported in US Dollar would have adverse impact of about 210 basis points (bps) on account of strengthening of US dollar against various global currencies. This impact has been computed using the exchange rate as on 18 December 2014, HCL Technologies said in a statement.

HCL Technologies' consolidated net profit rose 2% to Rs 1873.95 crore on 3.7% growth in sales to Rs 8735 crore in Q1 September 2014 over Q4 June 2014.

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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