Buzzing stock: HCL Technologies makes new 52-week high

HCL Technologies, (HCL), a leading global technology company, today announced its intent to acquire DWS Limited, a leading Australian IT, business and management consulting group.

The DWS Group, provides a wide range of IT services including Digital Transformation, Application development & support, Program & Project Management and Consulting.

As the IT industry continues to evolve and the growing demand for digital strategies increases, 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.

The stock jumped more than 4.55 per cent and made 52-week high of Rs 848 on BSE. The stock of HCL Technologies has recovered by 105.10 per cent from its sharp decline in March 2020. On a YTD basis, the stock has gained by 48.57 per cent.

It has given returns of 50.82 per cent, 88.52 per cent, and 63.42 per cent for 3 months, 6 months, and 1 year, respectively. According to BSE data, the stock traded at a P/E multiple of 23.08 and a price-to-book ratio of 5.90.