HCL Tech upbeat on Teradyne deal

DALAL STREET SPIKES

HCL Technologies was up on the news of signing an outsourcing contract with Teradyne US. The scrip touched an intra-day high of Rs 558.

However, it slipped later on profit booking and the counter closed at Rs 542.35, down by Rs 12.90 from Wednesday's close.

8 lakh shares were traded on NSE. The deal with Teradyne is worth $70 million. It expects revenues to exceed $125 million in five years. The Boston-based Teradyne makes semiconductor equipments.

There were speculations that HCL Tech had bagged a $780 million outsourcing deal with Skandia, the 151-year-old financial services firm owned by Old Mutual, but the company is yet to confirm this.

It is also in the process of merging its wholly owned subsidiaries "� HCL Technologies (Mumbai), HCL Technologies BPO Services, HCL Enterprise Solutions, DSL Software, Shipara Technologies and Aquila Technologies.