HCL Technologies trades higher on the bourses

05 Apr 2016

HCL Technologies is currently trading at Rs. 844.20, up by 4.40 points or 0.52% from its previous closing of Rs. 839.80 on the BSE.

The scrip opened at Rs. 844.65 and has touched a high and low of Rs. 848.55 and Rs. 832.55 respectively. So far 107007 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1047.50 on 29-May-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. 848.55 and Rs. 807.00 respectively. The current market cap of the company is Rs. 118464.97 crore.

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

HCL Technologies (HCL), a leading global IT services provider, has entered into an agreement to acquire (through demerger) all of the business of Geometric, except for the 58% stake that Geometric owns in the joint venture - 3DPLM Software Solutions, with Dassault Systemes. In consideration of this acquisition, HCL will issue 10 equity shares of Rs 2 each to Geometric shareholders for every 43 equity shares of Geometric of Rs 2 each held by them. In total, HCL will issue 15,640,546 equity shares of Rs 2 each. Geometric is one of India's leading PLM consulting, mechanical engineering and manufacturing engineering services providers.

HCL's global engineering services business, with a revenue of around $1.2 billion in calendar 2015, is a leader in this space, and has an industry leading position in hardware & software engineering, product development & testing, embedded, digital and mechanical engineering. The acquisition strengthens HCL's presence significantly in the PLM consulting as well as mechanical and manufacturing engineering space. It also significantly strengthens HCL's automotive and industrial practices.

The business that HCL is acquiring, in one of the largest acquisitions in the engineering services space, has more than 60 global clients in USA and Europe, majorly in automotive and industrial engineering segments. As of December 2015, it employs 2,606 people across 13 global delivery locations in the US, France, Germany, Romania, India and China. HCL will inherit several unique Geometric processes, methodologies and intellectual properties in PLM and digital manufacturing, along with highly specialized professionals in the PLM consulting as well as mechanical and manufacturing engineering space. The transaction thus creates a unique portfolio of end-to-end engineering and R&D capabilities across the full product lifecycle - hardware, software, mechanical & manufacturing engineering and PLM consulting.

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Puchho Befikar
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Research Analyst - INH000000719