HCL Tech gains on inking pact with SLC for providing and payments services

11 Mar 2014

HCL Technologies is currently trading at Rs. 1460.00, up by 17.55 points or 1.22 % from its previous closing of Rs. 1442.45 on the BSE.

The scrip opened at Rs. 1444.00 and has touched a high and low of Rs. 1467.00 and Rs. 1444.00 respectively. So far 26612 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. 673.60 on 29-Apr-2013.

Last one week high and low of the scrip stood at Rs. 1524.50 and Rs. 1438.00 respectively. The current market cap of the company is Rs. 102087.73 crore.

The promoters holding in the company stood at 61.75 % while Institutions and Non-Institutions held 32.25 % and 6.00 % respectively.

HCL Technologies has entered into agreement with UK-based government firm Student Loans Company (SLC) to offer lending and payments services. The company’s subsidiary HCL Great Britain work with financial advisory services firm Deloitte and banking and management solutions provider Misys to provide an automated, secure and streamlined customer experience across multiple channels, including digital.

To serve the expanding student loans service and increasing volume of loans, SLC needs to invest in building a new IT platform to support all future business needs.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323