HCL auquires NTS group

HCL Infosystems jumped 5.36% to Rs 118.90 at 09:06 IST on BSE after the company acquired a 60% stake in NTS Group, a leading IT services and solutions provider based in Dubai, involving an investment of about $6.5 million.

The announcement was made after market hours on Thursday, 8 July 2010.

Meanwhile, the BSE Sensex was up 140.02 points, or 0.79%, to 17,791.75

On BSE, 73,361 shares were traded in the counter as against an average daily volume of 72,835 shares in the past one quarter.


The stock hit a high of Rs 121.80 and a low of Rs 115.90 so far during the day. The stock had hit a 52-week high of Rs 188.80 on 22 October 2009 and a 52-week low of Rs 98 on 13 July 2009.

The stock had underperformed the market over the past one month till 8 July 2010, rising 3.44% compared with the Sensex's 6.23% rise. It underperformed the market in past one quarter, falling 14.34% as against 0.35% fall in the Sensex.

The mid-cap firm has an equity capital of Rs 43.63 crore. Face value per share is Rs 2

Following the acquisition of NTS Group, HCL Infosystems will be able to expand its presence in the Middle East and African markets to address system and service integration needs in the regions. NTS Group offers solutions in hardware, enterprise software, infrastructure and networking, e-security and web development.

HCL Infosystems' net profit rose 16.10% to Rs 66.76 crore on 7.10% decline in net sales to Rs 2793.83 crore in Q3 March 2010 over Q2 December 2009.