HCL Technologies gains 1% ahead of board meet to consider buyback

A meeting of the board of directors of the company is scheduled to be held on July 12, 2018, to consider a proposal for buyback of equity shares.

Shares of HCL Technologies added 1.5 percent in the opening trade on Thursday as board to consider buyback of shares.


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A meeting of the board of directors of the company is scheduled to be held on July 12, 2018, to consider a proposal for buyback of equity shares.

At 09:16 hrs HCL Technologies was quoting at Rs 1,009, up Rs 13.95, or 1.40 percent on the BSE.

The share touched its 52-week high Rs 1,106.60 and 52-week low Rs 825.10 on 23 April, 2018 and 04 December, 2017, respectively.

Currently, it is trading 8.82 percent below its 52-week high and 22.29 percent above its 52-week low.

According to HDFC Securities the company is likely to report net profit at Rs. 2,371 crore up 6.5% quarter-on-quarter (up 9.2% year-on-year) in the quarter ended JUne 2018.

Net Sales are expected to increase by 7.7 percent Q-o-Q (up 16.8 percent Y-o-Y) to Rs. 14,190 crore, according to HDFC Securities.

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Riyanshi

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