HCL Tech share price rises 1% as co sets record date for bonus issue

HCL Technologies share price gained over 1 percent intraday on November 27 after the company fixed record date for bonus share issue.

The record date for determining the entitlement of the equity shareholders of the company for the bonus shares has been fixed for December 7, 2019, subject to the approval by the shareholders for issuance of bonus shares and increase in authorized share capital of the company, company said in release.

The company's Q2FY20 profit increased 19.4 percent to Rs 2,651 crore versus Rs 2,220 crore in the June quarter, while revenue grew by 6.7 percent quarter-on-quarter to Rs 17,528 crore

It has registered a 5.2 percent QoQ growth in dollar revenue at $2,486 million and constant currency topline growth was 6 percent QoQ.

The board approved the issue of one bonus share for every share held by shareholders and declared an interim dividend of Rs 2 per equity share for the Financial Year 2019-20.

At 11:46 hrs HCL Technologies was quoting at Rs 1,122.65, up Rs 12.45, or 1.12 percent on the BSE.