HCL Infosystems gains as board approves biz restructuring

The computer hardware company will transfer its hardware solution, learning and services business into separate companies.

HCL Infosystems has moved higher by 5% to Rs 41 after the hardware company said that its board approved the business restructuring.

“The company will transfer its hardware solution business to a wholly owned subsidiary HCL System Integration, learning business to HCL Learning and services business to HCL Care, while the company will merge HCL Infocom, a wholly owned subsidiary with the company,” HCL Infosystems said in a statement.

The telecom distribution business would continue to be with the parent HCL Infosystems, while the exiting wholly owned subsidiary, Digital Distribution and Marketing Services would continue to be engaged in distribution business of non-telecom products, it added.

 

“The restructuring of the business is with the objective of providing focused management orientation to each of the growth areas and to create a leaner organization for the hardware solution business,” the company said.

The stock opened at Rs 39.55 and hit a high of Rs 41.50 on the NSE. A combined 613,926 shares have changed hands on the counter till early noon deals on both the exchanges.