HCL Technologies trades higher as its arm acquires balance 19.6% stake in HCL Technologies SEP Holding
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HCL Technologies is currently trading at Rs. 1309.35, up by 17.35 points or 1.34% from its previous closing of Rs. 1292.00 on the BSE.
The scrip opened at Rs. 1286.50 and has touched a high and low of Rs. 1310.95 and Rs. 1283.45 respectively. So far 107345 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1377.00 on 24-Sep-2021 and a 52 week low of Rs. 890.00 on 24-Feb-2021.
Last one week high and low of the scrip stood at Rs. 1310.95 and Rs. 1246.70 respectively. The current market cap of the company is Rs. 353047.83 crore.
The promoters holding in the company stood at 60.33%, while Institutions and Non-Institutions held 34.79% and 4.88% respectively.
HCL Technologies’ wholly owned step-down subsidiary--- HCL America Inc., has acquired the balance 19.6% stake in HCL Technologies SEP Holdings Inc., the sole parent entity of the operating company, Actian Corporation.
The acquisition of balance 19.6% stake in the company is part of HCL’s Mode 3 strategy to augment its capabilities in the data management products and platforms. This would help HCL in increasing its presence in a high margin, recurring revenue IP business in data analytics, integration and management products. This would enable HCL to further reach its global enterprises and harness the value of hybrid data by a combined proposition of HCL’s Mode 2 offerings like Digital Engineering, Cloud Native, Digital and Analytics and IoT Works with Actian’s products.
HCL Technologies is a leading global IT services company that helps global enterprises reimagine and transform their businesses through digital technology transformation.
