HCL Technologies trades higher as its arm plan to foray into healthcare sector

07 Feb 2014

HCL Technologies is currently trading at Rs. 1409.75, up by 0.70 points or 0.05% from its previous closing of Rs. 1409.05 on the BSE.

The scrip opened at Rs. 1406.05 and has touched a high and low of Rs. 1423.00 and Rs. 1398.90 respectively. So far 17207 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1470.00 on 31-Jan-2014 and a 52 week low of Rs. 652.60 on 11-Feb-2013.

Last one week high and low of the scrip stood at Rs. 1470.00 and Rs. 1365.00 respectively. The current market cap of the company is Rs. 98667.54 crore.

The promoters holding in the company stood at 61.75% while Institutions and Non-Institutions held 32.25% and 6.00% respectively.

HCL Corporation, the controlling arm of IT services major HCL Technologies, is planning to foray into healthcare sector. In this regard, the company has launched a new company, HCL Healthcare with an initial investment of Rs 1,000 crore towards setting up its healthcare arm.

HCL Healthcare will focus on the 300 million strong Indian urban middle class. The new company is aiming to cover 20 million people by 2020 through its chain of multispecialty clinics.

HCL Healthcare intends to provide innovative medical services and products. The company will invest Rs 1,000 crore over the next five years in expanding the operations and reach.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323