Breaking News

You are here » Indian-Commodity  :  Equity & Shares  :  HCL Infosystems shines on getting nod for sale of CARE Business

01-Feb2018

HCL Infosystems shines on getting nod for sale of CARE Business

HCL Infosystems is currently trading at Rs. 55.75, up by 2.25 points or 4.21% from its previous closing of Rs. 53.50 on the BSE.

The scrip opened at Rs. 54.20 and has touched a high and low of Rs. 56.70 and Rs. 54.20 respectively. So far 251996 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 64.75 on 09-Jan-2018 and a 52 week low of Rs. 39.80 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 59.40 and Rs. 53.05 respectively. The current market cap of the company is Rs. 1827.00 crore.

The promoters holding in the company stood at 62.89%, while institutions and non-institutions held 2.49% and 34.62% respectively.

HCL Infosystems has received an approval for sale of CARE Business, a division of HCL Services (Wholly owned subsidiary). The board of directors at its meeting held on January 31, 2018 has approved for the same.

CARE Business division shall first be transferred by HCL Services to HCL Computing Products (HCPL) on slump sale basis as a going concern under a Business Transfer Agreement (BTA). After completion of Slump sale of the CARE Business into HCPL, the entire shareholding of HCPL held by the company shall be sold to Quess Corp, the buyer, a listed Public Limited company under a Master Agreement (MA).

The total consideration for transaction is Rs 30 crore. The closure of transaction is subject to certain conditions listed out in BTA and MA. The transaction is expected to be completed by April 30, 2018.

HCL Infosystems is one of India's premier IT Services, Distribution and Digital Solutions Company, enabling organizations to attain and sustain competitive advantage by leveraging Information and Communication Technologies.


Related News

View all news

United Bank of India shines on getting nod to raise Rs 1,500 crore by various means

United Bank of India is currently trading at Rs. 11.05, up by 0.50 points or 4.74% from its previous closing of Rs. 10.55 on the BSE.The scrip opened at Rs. 10.85 and has touched a high and low of Rs.......

Pondy Oxides & Chemicals gains on planning to merge Meloy Metals with itself

Pondy Oxides & Chemicals is currently trading at Rs. 319.80, up by 1.85 points or 0.58% from its previous closing of Rs. 317.95 on the BSE.The scrip opened at Rs. 317.80 and has touched a high......

Venky's slips on reporting 41.52% fall in Q4 net profit

Venky's  (India) is currently trading at Rs. 1766.00, down by 56.15 points or 3.08% from its previous closing of Rs. 1822.15 on the BSE.The scrip opened at Rs. 1817.00 and has touched a high and......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......