Hinduja Global Solutions (HGS) shares rose 19% to a record high of Rs 3,948 on the BSE intraday on Tuesday after the company stated that its board would meet on January 6 to consider a proposal for a bonus issue of equity shares.

The stock of the company, which specialises in business process outsourcing (BPO)/knowledge process outsourcing (KPO), has surpassed its previous high of Rs 3,529, which it reached on August 12, 2021.

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“A meeting of the board of directors of Hinduja Global Solutions will be held on Thursday, January 6, 2022, inter-alia, to consider declaration of interim dividend, if any, for the financial year 2021-22; and proposal for declaration of bonus issue of equity shares,” the company said in a filing with the exchanges.

The stock was trading 9% higher on the BSE at Rs 3,591 at 09:39 a.m. against a 0.27% gain in the S&P BSE Sensex. A total of  131,000 of the company’s shares were traded on the NSE and BSE.

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HGS recorded a remarkable 67.9% year-on-year growth in profit after tax (PAT) of Rs 136.5 crore for the July-September quarter (Q2FY22). Revenue increased 18.8%, year on year, to Rs 1,583 crore.

The outcome was led by significant revenue and margin expansion in the UK business, digital business, and healthcare business. Strong revenue growth, along with savings from the hybrid working model, helped reduce obstacles caused by talent supply shortages, allowing the company to post enhanced EBITDA margins of 14.3% in Q2.

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HGS authorized the sale of its healthcare segment to Barings Private Equity for $1.2 billion (Rs 9,000 crore) on August 9, 2021, as part of its strategic objective to unlock value. Healthcare services accounted for 55% of the company’s revenue.