 "HCL Info surges 18%; company clarifies on reports of tying up with Apple")
HCL Infosystems surged 18% to Rs 55.75 on the BSE on the back of heavy volumes after the company said that it is in various stages of discussion with multiple original equipment manufacturers (OEMS) for distribution arrangement of their products.
“As part of the overall strategy, the company keeps evaluating various strategies from time to time to create value for shareholders. In line with the same, the company had decided to move from Single brand to Multi brand distribution model in our Consumer Distribution business,” HCL Infosystems said in a regulatory filing after BSE sought clarification from the company on the news report stating Apple is likely to tie up with HCL Info for greater presence.
"As a result of the change in our strategy, we have been in various stages of discussion with multiple OEMS for distribution arrangement of their products," it added.
As and when any definitive agreement is signed by the company with any of the OEMs that result in material impact on the business, HCL Infosystems said.
“As part of the overall strategy, the company keeps evaluating various strategies from time to time to create value for shareholders. In line with the same, the company had decided to move from Single brand to Multi brand distribution model in our Consumer Distribution business,” HCL Infosystems said in a regulatory filing after BSE sought clarification from the company on the news report stating Apple is likely to tie up with HCL Info for greater presence.
"As a result of the change in our strategy, we have been in various stages of discussion with multiple OEMS for distribution arrangement of their products," it added.
As and when any definitive agreement is signed by the company with any of the OEMs that result in material impact on the business, HCL Infosystems said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%