HCL Tech gains on entering into$ 400 million strategic engagement with DNB Bank

07 May 2014

HCL Technologies is currently trading at Rs. 1385.00, up by 1.45 points or 0.10% from its previous closing of Rs. 1383.55 on the BSE.

The scrip opened at Rs. 1392.15 and has touched a high and low of Rs. 1403.25 and Rs. 1383.40 respectively. So far 14563 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1588.65 on 28-Feb-2014 and a 52 week low of Rs. 716.70 on 17-May-2013.

Last one week high and low of the scrip stood at Rs. 1438.00 and Rs. 1369.60 respectively. The current market cap of the company is Rs. 97604.99 crore.

The promoters holding in the company stood at 61.69%, while Institutions and Non-Institutions held 32.28% and 6.03% respectively.

HCL Technologies, a leading global IT services provider has entered into $400 million strategic engagements with DNB Bank ASA, Norway's largest bank and one of the world's leading maritime shipping bank. HCL will manage the IT infrastructure services and application operations for all DNB businesses across Norway and its key international locations. As part of the deal HCL will migrate and transform DNB systems and infrastructure from its existing IT partner to create two new data centers in Norway. The key focus will be driving a world-class user experience to the bank's 2.5 million retail banking customers and end-users across all DNB's products, including retail and online banking, cards, insurance, capital markets, payments and finance.

The agreement will help DNB significantly improve operational stability, reduce cost and implement a strong application operations framework with highest levels of service quality and innovation within the bank. As the prime services provider, HCL will be responsible for managing operations and multiple vendors across the bank's complex technology landscape.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. HCL leverages its extensive global offshore infrastructure and network of offices in 31countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare & Life sciences.

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