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HCL Technologies gains on inking definitive joint venture agreement with CSC

24 Jul 2015

HCL Technologies is currently trading at Rs. 977.45, up by 5.80 points or 0.60% from its previous closing of Rs. 971.65 on the BSE.

The scrip opened at Rs. 971.00 and has touched a high and low of Rs. 978.75 and Rs. 965.60 respectively. So far 2,598 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1058.20 on 11-Mar-2015 and a 52 week low of Rs. 725.18 on 15-Dec-2014.

Last one week high and low of the scrip stood at Rs. 994.50 and Rs. 945.00 respectively. The current market cap of the company is Rs. 1,37,286.00 crore.

The promoters holding in the company stood at 60.58% while Institutions and Non-Institutions held 33.45% and 5.97% respectively.

HCL Technologies has inked a definitive joint venture agreement with CSC to form a banking software and services company. The joint venture will invest in platform modernization and product functionality enhancement and will capitalize on the proven capabilities of both companies in addressing the multi-billion-dollar, global core banking software market.

CSC, which currently serves over 100 premier banking and financial services clients in 15 countries, will provide its core banking, cards, payments and default management industry talent, software and product development expertise. HCL will provide capital investment, extensive experience in product engineering and application implementation services, as well as banking sales and client engagement expertise.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. 

Related HCL Technologies Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323