Hot Pursuit     10-Oct-17
eClerx Services moves higher as SBI fund hikes stake
eClerx Services was up 1.7% to Rs 1,223.75 at 14:26 IST on BSE after SBI Mutual Fund increased stake in the company via open market transactions yesterday, 9 October 2017.

Meanwhile, the S&P BSE Sensex was up 91.84 points or 0.29% at 31,938.73. The S&P BSE Mid-Cap index advanced 83.11 points or 0.52% at 15,917.24.

On the BSE, 6,056 shares were traded on the counter so far as against the average daily volumes of 22,403 shares in the past one quarter. The stock had hit a high of Rs 1,238 and a low of Rs 1,213.70 so far during the day. The stock had hit a 52-week high of Rs 1,680 on 26 October 2016 and a 52-week low of Rs 1,141.65 on 25 September 2017.

The stock had underperformed the market over the past one month till 9 October 2017, sliding 3.16% compared with the Sensex's 0.5% rise. The stock had also underperformed the market over the past one quarter, declining 7.08% as against the Sensex's 1.55% rise. The scrip had also underperformed the market over the past one year, sliding 19.9% as against the Sensex's 13.49% rise.

The mid-cap company has equity capital of Rs 39.88 crore. Face value per share is Rs 10.

LTR Focus Fund sold 2.30 lakh shares of eClerx Services at Rs 1,200.06 per share in a bulk deal on the BSE yesterday, 9 October 2017. Steadview Capital Mauritius sold 5.14 lakh shares at Rs 1,200 a piece. ABG Capital sold 2.43 lakh shares at Rs 1,200.10 per share. SBI Mutual Fund A/C SBI Magnum Balanced Fund bought 9.40 lakh shares at Rs 1,200 per share.

SBI Magnum Balanced Fund held 2.19% stake and Steadview Capital Mauritius owned 1.29% in eClerx Services end September 2017.

On a consolidated basis, net profit of eClerx Services rose 5.92% to Rs 79.24 crore on 0.5% rise in net sales to Rs 333.17 crore in Q1 June 2017 over Q4 March 2017.

eClerx Services is a leading knowledge process outsourcing (KPO) company providing middle/back office operations support to number of Fortune 500 companies. Its delivery centers across India support a diverse global client base, including the world's leading financial services, broadband, cable & telecom, ecommerce & retail, high tech, industrial manufacturing & distribution, software, media & entertainment and travel companies.

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