HCL Tech completes acquisition of Quest Informatics; Stock hits 52-week low

13 Jul 2022 , 11:40 AM

HCL Technologies Ltd has informed to the exchanges regarding acquisition of Quest Informatics.

As per the regulatory filing, the company had earlier announced the acquisition of 100% stake in Quest Informatics Private Limited incorporated in India (“Quest”). The aforesaid acquisition has been completed effective July 12, 2022, the company updated.

Today, the company’s share price hits new 52-week low after its Q1 numbers missed street expectations. HCL Tech posted an 8.6% sequential drop in net profit to Rs3,283 crore for Q1FY23.

On Wednesday at around 11:38 AM, HCL Technologies was trading at Rs924.55 per share down by Rs3.5 or 0.38% after hitting 52-week low at Rs905.20 per share from its previous closing of Rs928.05 per share on the BSE.