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Here's why Hinduja Global Solutions shares rose 7% in trade on May 12
Hinduja Global Solutions share price: Shares of technology solutions, cybersecurity, and consulting services provider Hinduja Global Solutions (HGS) were buzzing in trade on Monday, May 12, on the exchanges. The company's share price climbed 6.85 per cent to hit an intra-day high of ₹509.90 per share on the NSE.
The upward movement in Hinduja Global Solutions' share price followed the company's announcement that it had opened its newest AI-powered digital customer experience and Data & Analytics innovation center in Waterloo, Ontario.
"This expansion marks a significant milestone in HGS's commitment to digital transformation, data-driven innovation, and creating high-quality career opportunities in Canada's fastest-growing city," the company said in a release.
'As we continue to grow and transform the customer experience landscape, Waterloo is the ideal city for HGS to expand,' said Savita Jones, HGS SVP - North America Operations. 'This region is home to more than 1,000 technology firms and has proven to be the perfect place to turn innovative ideas into a thriving business. Its collaborative spirit within this type of ecosystem is a great fit for our next-generation CX solutions that will ultimately create a data-rich innovation network.'
About Hinduja Global Solutions
A part of the multi-billion-dollar conglomerate Hinduja Group, Hinduja Global Solutions is a global player in optimising the customer experience lifecycle, digital transformation, business process management, and digital media ecosystem. HGS' core BPM business combines automation, analytics, and artificial intelligence with deep domain expertise, focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. The company has 18,169 employees in 10 countries, including 33 delivery centers. For the year ended March 31, 2024, HGS reported total income of ₹5,087.8 crore (US$ 614.4 million).
The company has a market capitalisation of ₹2,349.51 crore on the NSE as of May 12.
Hinduja Global Solutions share price history
In the short term, Hinduja Global Solutions shares have advanced 3 per cent in the last five days and 7 per cent in the last one month, while they have plunged 32 per cent in the last six months and 38 per cent in the last year.
Hinduja Global Solutions shares have declined 29 per cent year-to-date. In contrast, the benchmark Nifty has advanced 4.5 per cent during the same period.
Hinduja Global Solutions shares have a 52-week range of ₹954.75-437 on the NSE.
At 1:40 PM on Monday, the company's shares were quoted at around ₹502.35 apiece, higher by 5.27 per cent from their previous close of ₹477.20 on the NSE.
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