HCL Infosystems Limited receives 2 final arbitration awards of Rs. 31 crores approximately

HCL Infosystems Limited has received 2 (two) final arbitration awards of approx. Rs. 31 Crores, in the arbitrations filed by the Company against one of the State Electricity Board regarding the Claims filed in respect of the RAPDRP and ERP Projects executed by the Company for the State Electricity Board.

The monetary reliefs in favour of the Company as per the Award(s) for the principal amount, interest and litigation cost is Rs. 31.08 Crores.

The customer has the right to go for further appeal.

Shares of HCL Infosystems Limited was last trading in BSE at Rs. 15.77 as compared to the previous close of Rs. 15.02. The total number of shares traded during the day was 15123 in over 22 trades.

The stock hit an intraday high of Rs. 15.77 and intraday low of 15.77. The net turnover during the day was Rs. 238489.00.

Source : Equity Bulls

Keywords

HCLInfosystems INE236A01020 FinalArbitratioAward