HCL Infosystem surges as its arm implements e-PDS Solution

HCL Infosystems Ltd. | Trading | Miscellaneous | BSE: 500179 | NSE: HCL-INSYS

07 Oct 2016 Evaluate

HCL Infosystems is currently trading at Rs. 52.45, up by 0.15 points or 0.29% from its previous closing of Rs. 52.30 on the BSE.

The scrip opened at Rs. 52.30 and has touched a high and low of Rs. 53.70 and Rs. 51.75 respectively. So far 1460685 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 66.75 on 27-Nov-2015 and a 52 week low of Rs. 30.30 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 53.30 and Rs. 41.70 respectively. The current market cap of the company is Rs. 1165.87 crore.

The promoters holding in the company stood at 58.04%, while Institutions and Non-Institutions held 3.72% and 38.24% respectively.

HCL Infosystems’s wholly owned subsidiary- HCL Infotech has implemented electronic public distribution system (e-PDS), ensuring greater transparency and efficient distribution of commodities to beneficiaries. The e-PDS has been implemented as a pilot project in Andaman & Nicobar Isles, wherein beneficiaries of the digital PDS will be issued smart ration cards covering entire South Andaman, excluding little Andaman.

The digitized process replaces existing paper ration cards with ‘Smart Ration Cards’ which the beneficiary will carry along with their unique PIN for making transactions at the Fair Price Shops (FPS). More than 59,000 Ration cards have been converted into Smart cards, and 6,000 bogus cards have been struck off. Beneficiaries can now make transactions at the 275 FPS in the Union Territory. The System Integration Solution devised by HCL will enable beneficiaries to directly avail the benefits, and help the departments in digitally monitoring the movement of commodities’ in the different stages of the public distribution cycle – starting from stock received from Food Corporation of India Godown to the department Godown, to individual FPS and lastly to the direct beneficiaries.

Over the past four decades, HCL Infosystems has leveraged its unmatched competencies in IT solutions and services to execute many projects of national importance, including the prestigious UIDAI project.