HCL Infosystems zooms on signing contract with Nokia India

The stock opened at Rs 54.50 and touched a low of Rs 55.30 on the BSE

HCL Infosystems has gained nearly 7% at Rs 54 on the BSE (Bombay Stock Exchange) after Nokia India, now subsidiary of Microsoft Mobile, has signed a fresh 3-year contract with IT services and product distribution company to sell its mobile devices.

"NISPL, subsidiary of Microsoft Mobile OY, and HCL Infosystems Ltd have signed a contract that will enhance the footprint of Microsoft Mobile devices across the Organized Trade and General Trade channels and rural India," HCL Infosystems said in a statement.

HCL has been a distributor of Nokia India Sales Private Limited (NISPL) for many years and the new contract is first deal after US tech giant Microsoft acquired devices business of Nokia.

"This engagement with Microsoft Mobile Devices is at the core of our strategy, as it presents us with an opportunity to widen our existing channel reach," HCL Infosystems Joint President for Consumer Distribution Business Sutikshan Naithani said.

The stock opened at Rs 54.50 and touched a high of Rs 55.30 on the BSE. Till 0945 hours, over 7 lakh shares changed hands on the counter on the BSE.