HCL Technologies share hits 52-week high after firm completes acquisition of DWS

HCL Technologies share rose to a fresh 52-week high on Tuesday after the firm said it has completed acquisition of Australian IT solutions firm DWS. HCL Tech share rose 1.61% to 52 week high of Rs 995.35 against previous close of Rs 979.55 on BSE.

The IT stock has gained 7.87% in the last 7 days.

Market cap of the firm stood at Rs 2.69 lakh crore.

HCL Technologies share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 69.6% in one year and risen 4.82% since the beginning of this year. In a month, the share climbed 15.46%

Later, the stock closed 1.23% higher at Rs 991.55 on BSE.

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In September last year, HCL Technologies had announced it will acquire DWS, a move that will help the Indian company strengthen its position in the Australia and New Zealand market.

The company has completed acquisition of DWS effective January 5, 2021, HCL Technologies said.

HCL Technologies in September 2020 had said the total equity value pay-out will be 158.2 million Australian dollars (about Rs 850.33 crore) after considering a total number of shares at 131.83 million on a fully diluted basis.

The shareholders of DWS will also get a dividend of 0.03 Australian dollars per share which was declared by the company in its recent announcement of annual corporate earnings for FY20 (June-end), it had added.