HCL Info shares slump 10% as March quarter net loss widens

Stocks of HCL Infosystems today nosedived almost 10 per cent after the company reported widening of net loss at Rs 47.16 crore for the quarter ended March.
The stock slumped 9.14 per cent to settle at Rs 46.70 on the BSE. During the day, it dived 10.31 per cent to Rs 46.10.
On the NSE, it crashed 9.7 per cent to end at Rs 46.50.
Tracking weakness in the scrip, the company's market capitalisation fell by Rs 104 crore to Rs 1,040.96 crore.
On the volume front, 8.93 lakh shares of the company were traded at the BSE and over 25 lakh shares changed hands at the NSE during the day.

HCL Infosystems yesterday reported widening of its net loss at Rs 47.16 crore for the three months to March, mainly due to a slump in sales.

The firm had posted a net loss of Rs 25.61 crore in the same period a year ago.
HCL Infosystems is in the business of making and selling computer and IT peripherals and providing services related to computing products.
The net sales of the company dropped about 30 per cent to Rs 1,376.19 crore during the said quarter from Rs 1,970.17 crore in the previous fiscal.
In the stock market, the BSE 30-share index Sensex settled 297.08 points lower at 27,437.94.