HCL Infosystems gained 4.44% to Rs 65.90 at 14:14 IST on BSE after the Finance Minister announced exemption in all inputs/components used in the manufacture of personal computers from 4% special additional duty.
Meanwhile, the S&P BSE Sensex was up 368.47 points or 1.45% at 25,813.28
On BSE, so far 5.04 lakh shares were traded in the counter as against average daily volume of 14.79 lakh shares in the past two weeks.
The stock hit a high of Rs 66.80 and a low of Rs 59.90 so far during the day. The stock had hit a 52-week high of Rs 75.90 on 1 July 2014. The stock had hit a 52-week low of Rs 19.05 on 18 December 2013.
The stock had underperformed the market over the past one month till 9 July 2014, falling 8.68% compared with the Sensex's 0.53% fall. The scrip, however, outperformed the market in past one quarter, gaining 32.29% as against the Sensex's 12.08% rise.
The small-cap company has equity capital of Rs 44.58 crore. Face value per share is Rs 2.
While presenting the final Union Budget for 2014-15 in Lok Sabha today, 10 July 2014, Finance Minister Arun Jaitley said that all inputs/components used in the manufacture of personal computers will be exempt from 4% special additional duty (SAD). The exemption was announced to cater to very fast growing demand for electronics and to boost domestic production and reduce dependence on imports.
HCL Infosystems' net profit rose 11.3% to Rs 2.56 crore on 8.42% decline in net sales to Rs 1316.49 crore in Q3 March 2014 over Q2 December 2013.
HCL Infosystems is India's premier technology company and offers a wide spectrum of IT services and products ranging from Cloud to Learning Solutions.
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