Mega contracts talk fuels HCL Technologies

DALAL STREET SPIKES

Shares of HCL Technologies (HCL) jumped by 18 per cent to close the day at Rs 122.95 on reports that it has signed over $1-billion contracts in the last three months. This is the highest-ever order book in a single quarter, aided by its purchase of the UK-based SAP consulting firm, the Axon Group.

The HCL stock could have also got a boost from the company's announcement on December 15 (after market hours) that it had completed the acquisition of Axon for 441.1 million pounds.

The stock opened 2.2 per cent higher at Rs 106.5, which was also its low for the day, and moved up to Rs 125.2 during the day. A total of quantity 1,940,693 shares (more than four times its two-week average) changed hands today, with delivery volumes of 63 per cent.