 "eClerx Services surges 14% as board to consider bonus issue proposal")
Shares of eClerx Services surged 14 per cent to Rs 2,505.35 on the BSE in Wednesday’s intra-day trade after the company announced that its board will meet on August 9, 2022 to consider the proposal for issuance of bonus equity shares of the company.
The board will also meet to approve and take on record the un-audited financial results of the company for the quarter ended June 30, 2022 (Q1FY23), eClerx Services said in an exchange filing on Tuesday after market hours.
The stock of the company engaged in business process outsourcing (BPO) and knowledge process outsourcing (KPO) had hit a 52-week high of Rs 2,970 on January 13, 2022. In the past one month, the stock has rallied 31 per cent as compared to 10 per cent rise in the S&P BSE Sensex.
At 09:35 AM; the stock traded 7 per cent higher at Rs 2,355, as against a sluggish movement by the S&P BSE Sensex at 58,138 .
eClerx provides critical business operations services to over 50 global Fortune 500 league clients, including some of the world’s leading companies across financial services, cable & telecom, retail, fashion, media & entertainment, manufacturing, travel & leisure, software and high-tech.
The company had acquired Personiv, an outsourcing provider with over 35+ years of experience with offices in the US, India and Philippines. The acquisition would leverage synergies in digital and customer experience services. It would add ~$32 million annual revenues to eClerx, according to analysts at ICICI Securities.
Overall revenue mix has been inching towards offshoring as in the last four quarters, onshore revenue mix has come down from 23 per cent to 20 per cent, which is a tailwind to margin. The management do not expect materially different mix, going forward; guided for healthy EBITDA margin band of 28-32 per cent, the brokerage firm had said in top picks of calendar year 2022.
The board will also meet to approve and take on record the un-audited financial results of the company for the quarter ended June 30, 2022 (Q1FY23), eClerx Services said in an exchange filing on Tuesday after market hours.
The stock of the company engaged in business process outsourcing (BPO) and knowledge process outsourcing (KPO) had hit a 52-week high of Rs 2,970 on January 13, 2022. In the past one month, the stock has rallied 31 per cent as compared to 10 per cent rise in the S&P BSE Sensex.
At 09:35 AM; the stock traded 7 per cent higher at Rs 2,355, as against a sluggish movement by the S&P BSE Sensex at 58,138 .
eClerx provides critical business operations services to over 50 global Fortune 500 league clients, including some of the world’s leading companies across financial services, cable & telecom, retail, fashion, media & entertainment, manufacturing, travel & leisure, software and high-tech.
The company had acquired Personiv, an outsourcing provider with over 35+ years of experience with offices in the US, India and Philippines. The acquisition would leverage synergies in digital and customer experience services. It would add ~$32 million annual revenues to eClerx, according to analysts at ICICI Securities.
Overall revenue mix has been inching towards offshoring as in the last four quarters, onshore revenue mix has come down from 23 per cent to 20 per cent, which is a tailwind to margin. The management do not expect materially different mix, going forward; guided for healthy EBITDA margin band of 28-32 per cent, the brokerage firm had said in top picks of calendar year 2022.
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