Tuesday 16 February 2016

HCL Tech signs deal with Volvo Group

The company is acquiring the external IT business of Volvo IT AB ('Volvo IT'), a subsidiary of AB Volvo, the top holding company of the Volvo Group.


HCL Technologies Ltd is marginally up at Rs.825.55 on BSE.  The company is acquiring the external IT business of Volvo IT AB ('Volvo IT'), a subsidiary of AB Volvo, the top holding company of the Volvo Group. The approval of European Union has been obtained for this transaction.

The scrip opened at Rs. 827.4 and has touched a high and low of Rs. 837.5 and Rs. 820 respectively. So far 746531(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 116382.81 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1058.2 on 11-Mar-2015 and a 52 week low of Rs. 785.85 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 848 and Rs. 785.85 respectively.

The promoters holding in the company stood at 60.42 % while Institutions and Non-Institutions held 33.02 % and 6.55 % respectively.

The stock is currently trading above its 200 DMA.

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