eClerx remains firmly in the green
eClerx Services had hit a new high on 30th March at Rs.1719.35 and today, though it did not hit a new high today, it remains firmly in the green. It is up 3.5% at Rs.1644 and it had hit an intra day high at Rs.1700.
The stock is up, reacting to the news that its Board has agreed to buy CLX Europe SpA, an Italian media content management company for Euro25 million, which is around Rs.168 crore.
The acquisition will be made through its UK-based subsidiary and the all-cash transaction would be funded through internal accruals. CLX is a digital services firm active in creative asset creation, management and delivery to support the marketing, communication and branding of companies and their products.
For Q3FY15, the company’s consolidated net profit was down 2.5% (YoY) at Rs.61 crore though total income was up 15% at Rs.253 crore.