HCL Tech scales record high

HCL Technologies rose 1.53% to Rs 1,076.05 at 11:26 IST on BSE after the company announced entering into a pact with Anglo American, one of the world's largest mining companies.

The announcement was made after market hours on Tuesday, 10 September 2013.

Meanwhile, the S&P BSE Sensex was down 81.32 points or 0.41% at 19,915.77.

On BSE, 39,000 shares were traded in the counter as against average daily volume of 74,606 shares in the past one quarter.

The stock hit a high of Rs 1,080.95 so far during the day, which is also its record high for the counter. The stock hit a low of Rs 1,051.10 so far during the day. The stock had hit a 52-week low of Rs 548.40 on 24 September 2012.

The stock had outperformed the market over the past one month till 10 September 2013, surging 17.16% compared with the Sensex's 6.43% rise. The scrip had also outperformed the market in past one quarter, jumping 40.6% as against Sensex's 2.86% rise.

The large-cap IT company has equity capital of Rs 139.41 crore. Face value per share is Rs 2.

HCL Technologies and Anglo American, one of the world's largest mining companies said that they have entered into an engagement where HCL will deliver IT services for Anglo American businesses across the globe. As a part of this contract, HCL will transform Anglo American's end user computing and data center landscape to improve operational efficiency, business agility and the user experience. The scope of service covers end to end infrastructure services, including data centre and hosting services, email services, service desk, local area network and security management, end user computing and on-site IT services, utilizing hybrid on-premise and cloud delivery models.

Ashish Gupta, Senior Vice President and Head EMEA, HCL Technologies ISD said, "This contract reinforces HCL's focus on developing markets and further cements HCL's position as the provider of choice for IT Infrastructure Services. HCL will create an environment of transformation, innovation and continuous improvement of services that will strengthen Anglo American's leadership position in the marketplace. This deal is also a testimony of our growing strength as the provider of choice for the Gen 2.0 outsourcing market".

Anglo American's Chief Information Technology Officer and Head of Global Infrastructure, David Heppenstall said, "HCL has been one of the most successful Infrastructure suppliers in the market in recent years, and we have been impressed with their solution and the people we have worked with. We are confident they will become an effective long term partner for Anglo American."

Anglo American, one of the world?s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges.

HCL Technologies' consolidated net profit rose 16% to Rs 1209.30 crore on 8% growth in sales to Rs 6944.20 crore in Q4 June 2013 over Q3 March 2013.

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 offers an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and business services.

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