HCL Technologies trades in green on the bourses

15 Nov 2016

HCL Technologies is currently trading at Rs. 775.45, up by 11.85 points or 1.55% from its previous closing of Rs. 763.60 on the BSE.

The scrip opened at Rs. 765.00 and has touched a high and low of Rs. 786.05 and Rs. 731.05 respectively. So far 46,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 889.80 on 01-Feb-2016 and a 52 week low of Rs. 706.50 on 11-May-2016.

Last one week high and low of the scrip stood at Rs. 824.50 and Rs. 731.05 respectively. The current market cap of the company is Rs. 1,09,425.60 crore.

The promoters holding in the company stood at 60.36%, while Institutions and Non-Institutions held 32.42% and 7.22% respectively.

HCL Technologies (HCL) has entered into an agreement to acquire Butler America Aerospace, LLC (Butler Aerospace), a provider of engineering, design services and aftermarket engineering services to US Aerospace and Defense customers. Butler Aerospace is a wholly owned subsidiary of Butler America LLC.

The proposed acquisition will exclude the staffing business of Butler America Inc. The consideration for the proposed transaction is $85.0 million to be paid in cash. Butler Aerospace had revenues of $85.4 million for the year ending December 31, 2015 at EBIT of 12.2%. The transaction when consummated is likely to be EPS accretive.

Butler Aerospace serves customers primarily in the Aerospace and Defense industries in the US, to whom it provides Engineering & Design services in the areas of Mechanical and Structural Design, Electrical Design, Tool design and aftermarket engineering services.

With over 900 highly skilled engineers and 7 design centers in the US, Butler Aerospace has a marquee list of clients in the Aerospace & Defense industries and works with OEMs and their Suppliers. The acquisition will bolster HCL’s capabilities in this space and access to clients with large R&D spends.

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HCL Tech. Share Price

1148.55 5.45 (0.48%) Nov 14, 17:39
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