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“The Distributor Agreement for distribution of iPhone and other Apple Products has been signed with M/s Apple India Private Limited (M/s Apple),” HCL Infosystems said in a statement.
The company had said in July that it was in discussion with the US-based tech giant to distribute its products in India.
It had signed a non-disclosure agreement with Apple India on December 23, 2016, and had expressed interest in taking up distribution of Apple products in India.
The stock hit a 52-week high of Rs 65 on January 25, 2017 in intra-day trade.
At 09:30 am; it was up 14% at Rs 49.05, as compared to 0.48% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 4.36 million shares changed hands on the BSE and NSE so far.