Shares of HCL Technologies rose as much as 1.61 percent to hit an intraday high of ₹ 995.35 on the BSE after the company informed exchanges that it has completed the acquisition of Australia-based IT solutions company, DWS Limited. The Noida-based information technology company had in September 2020 announced its intention to acquire DWS Limited. (Track HCL Technologies share price here)
"DWS Limited is a leading Australian IT, business and management consulting group. As the IT industry continues to evolve and the growing demand for digital strategies increases, DWS, with over 700 employees and offices in Melbourne, Sydney, Adelaide, Brisbane, and Canberra, delivers business and technology innovation to large clients across a spectrum of verticals," HCL Technologies had said in a press release in September.
"The DWS Group, with FY20 revenue at Australian $167.9 million, provides a wide range of IT services including digital transformation, application development & support, program & project management, and consulting. The acquisition of DWS will strongly enhance HCL's contribution to digital initiatives in Australia and New Zealand while strengthening HCL's client portfolio across key industries," HCL Technologies said.
As of 12:09 pm, HCL Technologies shares traded 0.66 percent higher at ₹ 986, outperforming the Sensex which was trading on a flat note. HCL Technologies shares rallied a whopping 66 percent in the calendar year 2020, massively outperforming the National Stock Exchange benchmark Nifty 50 index which rose 15 percent.
Sourced from NDTV Profit