HGS gains as foreign portfolio investor Aviator Global ups stake

According to bulk deal data, Aviator Global Investment Fund bought 2.8 lakh shares or 0.6 percent stake in Hinduja Global Solutions via open market transactions at an average price of Rs 1,005 per share.

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Shares of Hinduja Global Solutions opened 0.45 percent higher on the NSE on September 25. This comes after foreign portfolio investor Aviator Global Investment Fund bought 2.8 lakh shares or 0.6 percent stake in the IT services management company on September 22. As of 10:20 am, the stock was trading at Rs 1,009.90, 0.74 percent higher than the close on September 22.

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According to bulk deal data, Aviator Global Investment Fund bought 2.8 lakh shares or 0.6 percent stake in Hinduja Global Solutions via open market transactions at an average price of Rs 1,005 per share. This latest stake purchase is in addition to 2.93 percent shareholding held as of June 2023, bringing up the total stake to nearly 3 percent. Legends (Cayman) was the seller in the deal.

For the quarter ending June 2023, Hinduja Global Solutions reported a 24.28 percent increase in net sales to Rs 1,133.49 crore. On the other hand, net profit for the quarter declined by as much as 79.71 percent to Rs 14.87 crore in June 2023. For the same quarter, earnings before interest, taxes, depreciation and amortisation stood at Rs 190.96 crore up 11.71 percent from Rs 170.95 crore in June 2022.

Also read: HGS Q1 net profit slumps to Rs 16.63 crore as other income declines

Post earnings, according to a PTI report, Partha DeSarkar, Executive Director and Group CEO of HGS said, “Looking ahead, though global economic uncertainties persist, we remain cautiously optimistic for the year.”

Bangalore-based Hinduja Global Solutions deals with business process management (BPM) and optimising customer experience lifecycle.

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