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Tuesday, July 17, 2018

HCL scrip rises 11.73% on talk of Aadhar contract

The company is one of the shortlisted candidates among all the bidders by the UIDAI.

Written by ENS Economic Bureau | Mumbai | Published: March 3, 2012 12:53:42 am

The HCL Infosystems stock surged nearly 12 per cent on the BSE on Friday,following speculation that it had won a Rs 2,200-crore contract from the Unique Identification Authority of India (UIDAI). The company,however,told the BSE it had no information about winning the contract.

“The company is one of the shortlisted candidates among all the bidders by the UIDAI. Confirmation of winning the contract has not yet been received by the company,” HCL said. HCL officials said UIDAI is still evaluating the bids and is yet to complete the process.

HCL opened at Rs 46.15 on the BSE and rose to an intra-day high of Rs 51.20,before closing at Rs 49.05,a gain of Rs 5.15 or 11.73 per cent. The Sensex gained 0.30 per cent to close at Rs 16,636.80. TCS,another contender for the deal,closed down 0.34 per cent at Rs 1,217.15.

“The tender document comprises more than 2,000 pages and we have evaluated less than a fourth of it. We will take some time in disclosing the winner,” said another UIDAI official.

However,speculation was rife throughout the day that HCL had emerged as the lowest bidder for the managed services provider (MSP) contract — said to be the country’s largest outsourcing contract.

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