eClerx rallies 14% as board to consider bonus share issue

New Delhi: Shares of eClerx Services rallied 14 per cent in Wednesday's trade after the company announced that its board will consider a bonus issue proposal.

The BPO and KPO firm announced that its board is slated to meet on Tuesday, August 9 to consider the proposal for the issuance of bonus shares of the company.

The company board will also consider and approve the financial results for the quarter ended June 30, 2022, the company said in an exchange filing.

Following the development, shares of Eclerx Services zoomed about 14 hours to Rs 2,505.35 on Wednesday, before giving up some gains to trade at Rs 2,356 at 10.25 am.

According to the data, shares of eClerx Services have rallied about 25 per cent in the last one month, whereas the stock has been trading flat on a one-year basis.

eClerx provides critical business operations services to over 50 global Fortune 500 league clients, including some of the world’s leading companies across various sectors.

The company had acquired Personiv, an outsourcing provider with over 35 years of experience with offices in the US, India and the Philippines. The acquisition would leverage synergies in digital and customer experience services.