Hinduja Global Solutions Ltd. gained over 3 percent in trade on Thursday after the company informed the bourses about its board meeting scheduled on Monday, December 19, to consider a proposal for the buy-back of equity shares of a face value of Rs 10 each.
The trading window of the company shall remain closed for designated persons and their relatives from December 15 for the next 48 hours after the declaration of the outcome of the said board meeting.
Earlier, the company announced a repurchase plan of its paid-up capital of up to 25 percent for which Hinduja Global Solutions will be investing Rs 1,000 crore in the buyback plan. Its promoter Hinduja Group Ltd. has a 35.4 percent holding in Hinduja Global, while Aviator Global Investment Fund has 3 percent, Reliance Value Services Pvt. Ltd. has 1.8 percent, and IndusInd International Holdings Ltd. has a 1.3 percent stake.
Hinduja Global Solutions signed an agreement last week to acquire TekLink for $58.8 million and the transaction is expected to close by January 2023. With the acquisition, Hinduja Global aims to be a digital-led CX company and targets $100 million in digital revenues.
As part of its expansion plan, the company has acquired Diversify Australia, an offshore BPM solutions provider to Australian enterprises, and the digital media business of NXT Digital. The company is focusing on driving digital-led customer experience services and solutions.
For the September quarter, the net profit of Hinduja Global Solutions rose 121.71 percent to Rs 237.36 crore as against Rs 107.06 crore during the corresponding quarter a year ago. During the period, the company's sales rose 9.49 percent to Rs 1,167.54 crore from Rs 1066.31 crore in the year-ago period
Hinduja Global Solutions Ltd. stock ended at Rs 1,393, up 2.86 percent
