Intraday on Friday, Hinduja Global share price surged above 5 per cent. Last week, the company has initiated 40,000 sq ft space in the Burdwan-Durgapur phase-I IT park which is developed by West Bengal Electronics Industry Development Corporation Ltd (Webel). Operations will be started by this year. Since 2007, the business process management (BPM) services arm of Hinduja Group had been operating from two facilities in Durgapur. In 2011, the company began operations from the Siliguri IT park.
Since both Durgapur and Siliguri are strategically located, it is going to help them address the surrounding states of Odisha, Bihar, Jharkhand and Northeast.
The final agreement between Webel and Hinduja Global Solutions is on its way and will be signed soon. The company also has a presence in six different countries, including the US, Canada and the UK, with a total workforce of 44,000, of this, 26,000 is in India.
Hinduja Global Solutions (HGS) has clocked an increase in net profit by 19.51 per cent to Rs. 7.42 crore for the second quarter ended September 30 compared with Rs. 31.31 crore in the corresponding period last year.
Income from operations registered a 14.73 per cent growth or Rs. 905.23 crore in the July-September quarter this fiscal from Rs. 788.98 crore in the same period last year.
Hinduja Global continued its strong trajectory of topline growth, driven by robust performance in healthcare vertical and offshore business. PAT was marginally impacted by currency volatility, one-time cost of a client exit in Europe and ramp ups. Hinduja Global share price touched the day’s high and low at Rs. 561.50 and Rs. 520.00 respectively.
Hinduja Global is one of the multibagger stocks as identified by Dynamic Levels.For further details on the stock, refer to Hinduja Global share price history.
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