Hinduja Global surges on receiving CCI approval for Mphasis deal

06 Aug 2015

Hinduja Global Solutions is currently trading at Rs. 544.30, up by 49.10 points or 9.92% from its previous closing of Rs. 495.20 on the BSE.

The scrip opened at Rs. 497.00 and has touched a high and low of Rs. 547.00 and Rs. 496.30 respectively. So far 19467 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 724.90 on 01-Oct-2014 and a 52 week low of Rs. 485.00 on 30-Jun-2015.

Last one week high and low of the scrip stood at Rs. 510.80 and Rs. 489.50 respectively. The current market cap of the company is Rs. 1098.46 crore.

The promoters holding in the company stood at 67.71%, while Institutions and Non-Institutions held 17.25% and 15.04% respectively.

The Competition Commission of India (CCI) has approved Hinduja Global Solutions' (HGS) proposed acquisition of certain BPM and BPO assets of Mphasis and Msource. HGS has entered into a definitive agreement with Mphasis and subsidiary MsourcE India for buying significant portion of their BPO business for about Rs. 17 crore.

With the deal, HGS will add marquee clients in the telecom and banking and financial services (BFS) verticals as well as bring in over 7,000 customer experience professional.

Hinduja Global Solutions, a part of the multi-billion dollar conglomerate ? Hinduja Group, excels in providing outsourcing solutions that include Back Office Processing, Contact Center services and customized ITES solutions to its global clientele comprising several Fortune 500 Companies.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323