After acquisition, HCL Tech firms up
After acquisition, HCL Tech firms up
HCL gained 1.32% to Rs 921.30 on BSE, after its agreement to acquire H&D International Group,Germany IT & engineering services provider,on Jun'27,2018.On BSE, 2.23 lakh shares were traded as compared to daily average of 3.71 lakh shares in past 2 weeks.Stock hit a high of Rs 923 & a low of Rs 910 that day.This as per HCL's long-term growth plan in Germany.H&D International Group is one of the largest IT service providers in German automotive industry.
HCL Technologies gained 1.32% to Rs 921.30 on BSE, after it signed an agreement to acquire H&D International Group, Germany-based IT and engineering services provider, on Jun'27,2018.
S&P BSE Sensex was down 47.50 points, or 0.13% to 35,442.54.
On the BSE, 2.23 lakh shares were traded against compared with average daily volumes of 3.71 lakh shares in the past two weeks. The stock had hit a high of Rs 923 and a low of Rs 910 so far that day. Stock had a record high of Rs 1,106.60 on Apr'23,2018 and 52-week low of Rs 825.10 on Dec'04,2017.
This is part of HCL's long-term growth plan in Germany. With this deal HCL is set to attain significant in-country front office and delivery capabilities and will further enhance the company's domain expertise in the global automotive sector.
H&D International Group is one of the largest IT service providers in the German automotive industry, operating in over 20 locations globally including; Germany, USA, Czech Republic and Poland. It specializes in IT Infrastructure, application services particularly in R&D IT, shop floor IT and Industry 4.0 solutions and has extensive expertise in SAP, computer aided technologies (CAx), engineering services and customer-specific product development.Its existing delivery center in Gifhom , Germany, will become part of HCL's global delivery system and will focus on IT and engineering services both in Germany and globally. HCL Technologies(HCL) is a technology company globaly.
In Q4 Mar',2018 over Q3 Dec',2017, its net profit rose 7.47% to Rs 2230 crore on 2.88% ,net sales increased to Rs 13178 crore. Ref. : https://www.business-standard.com/article/news-cm/hcl-tech-firms-up-after-acquisition-118062700333_1.html --- Dated: Jun'27,2018
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