HCL Tech surges 6% on 1:1 bonus, healthy Q2 numbers

On a sequential basis, HCL Tech's revenue for the quarter ended September 30, rose 6.7 per cent while net income rose 19.4 per cent to Rs 2,651 crore.

Shares of HCL Technologies surged 6 per cent to Rs 1,160 on the BSE in the early morning deals on Thursday after the company announced 1:1 bonus issue and healthy set of numbers for the quarter ended September 30, 2019 (Q2FY20). The stock of the country’s third-largest information technology (IT) services firm was trading close to its all-time high price of Rs 1,190 recorded on April 30, 2019.

The board of directors of HCL Tech has recommended issue of one bonus share for every one equity share held by the equity shareholders of the company. The board also declared