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eClerx Services moves higher as SBI fund hikes stake

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was up 1.7% to Rs 1,223.75 at 14:26 on after Mutual Fund increased stake in the company via open market transactions yesterday, 9 October 2017.

Meanwhile, the S&P Sensex was up 91.84 points or 0.29% at 31,938.73. The S&P Mid-Cap index advanced 83.11 points or 0.52% at 15,917.24.

On the BSE, 6,056 shares were traded on the counter so far as against the average daily volumes of 22,403 shares in the past one quarter. The stock had hit a high of Rs 1,238 and a low of Rs 1,213.70 so far during the day. The stock had hit a 52-week high of Rs 1,680 on 26 October 2016 and a 52-week low of Rs 1,141.65 on 25 September 2017.

The stock had underperformed the market over the past one month till 9 October 2017, sliding 3.16% compared with the Sensex's 0.5% rise. The stock had also underperformed the market over the past one quarter, declining 7.08% as against the Sensex's 1.55% rise. The scrip had also underperformed the market over the past one year, sliding 19.9% as against the Sensex's 13.49% rise.

The mid-cap company has equity capital of Rs 39.88 crore. Face value per share is Rs 10.

LTR Focus Fund sold 2.30 lakh shares of at Rs 1,200.06 per share in a bulk deal on the BSE yesterday, 9 October 2017. Steadview Capital Mauritius sold 5.14 lakh shares at Rs 1,200 a piece. ABG Capital sold 2.43 lakh shares at Rs 1,200.10 per share. Mutual Fund A/C Magnum Balanced Fund bought 9.40 lakh shares at Rs 1,200 per share.

SBI Magnum Balanced Fund held 2.19% stake and Steadview Capital Mauritius owned 1.29% in end September 2017.

On a consolidated basis, net profit of eClerx Services rose 5.92% to Rs 79.24 crore on 0.5% rise in net sales to Rs 333.17 crore in Q1 June 2017 over Q4 March 2017.

eClerx Services is a leading knowledge process outsourcing (KPO) company providing middle/back office operations support to number of Fortune 500 companies. Its delivery centers across India support a diverse global client base, including the world's leading financial services, broadband, cable & telecom, ecommerce & retail, high tech, industrial manufacturing & distribution, software, media & entertainment and travel companies.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 10 2017. 14:25 IST