HCL Tech hits a new high
By
Research Desk
about 9 years ago
HCL Tech is amongst the top gainers on the BSE currently, hitting a new high today at Rs.1834 and remains firmly in the green, up over 10%. Volumes are up almost 3 times.
The stock hit the roof after the company posted exuberant Q2 (June year ending) numbers and also declared a surprising 1:1 bonus.
The financial performance was much better than expected with a 2% (QoQ) rise in consolidated net profit at Rs.1915 crore and this was on a 6% jump in revenues at Rs.9283 crore.
More than the numbers, the market was thrilled with the 1:1 bonus and a generous interim dividend of Rs.8/share on face value of Rs.2/share. Record date for bonus shares is yet to fixed with payment date for dividend is 11th Feb.