HCL Infosystems, an IT hardware and systems integrator, recorded a surge in share price on Tuesday (Jul. 18, 2017) after the leading financial daily stated Apple is likely to form distribution tie up with the company.
While clarifying on the media reports, the company said it is in various stages of discussion with multiple original equipment manufacturers (OEMs) for distribution arrangement of their products.
HCL Infosystems, which has a strong presence across the country, witnessed a huge buying interest in the stock market on the hopes of distribution tie up with the iPhone maker.
The stock rallied 18.74 percent to settle above 200-day moving average on Tuesday. Moreover, the volume of shares also spiked 21 times over the past 30-days average.
Heckyl news engine issued first news alert about aforesaid distribution tie up at 12.43 am, Tuesday from The Economic Times. The stock opened 2.87 percent higher at Rs 48.30 on the BSE. In the opening trade, the stock traded below Rs 50-mark. Post 9:25 am, the stock recorded sudden spurt in the prices. Subsequently, upward momentum in the prices continued throughout the day.
Our Trending News widget could have helped the traders to notice media reports on HCL Infosystems before market opening on July 18.
Post noon, HCL Infosystems issued a clarification on the media reports. The BSE disseminated clarification issued by the company around 12:50 pm. However, the stock price did not react to it. The major price action was observed after the NSE disclosed the company’s notification around 1:30 pm. This indicated that the majority of market participants did not notice clarification issued by HCL Infosystems until the NSE notification.
Our Corporate Announcements widget, which tracks company notifications disseminated by both the BSE and the NSE in real-time, could have helped the traders to spot clarification issued by HCL Infosystems ahead of major price action.
Intra-day Trading Opportunity:
Heckyl news alert has provided ample time to react on the news update. By using our news analytics platform, a trader could have spotted the intra-day trading opportunity in HCL Infosystems.
One could have bought the stock around Rs. 50 in the opening trade and then sold it towards closing at Rs. 55, netting a profit of Rs 5 a share or 10 percent on Tuesday.
To exploit such trading opportunities, a trader should have access to market moving news alerts ahead of others. Heckyl News Analytics, which captures news, social media and exchange announcements in real-time, can help traders to spot such opportunities.
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