The venture, on the lines of Kishore Biyani's Future Ventures India, will focus its investments in the information technology sector, said a source familiar with the development.
Despite there being expectations of a couple of positive developments on the counter, HCL Tech has remained subdued following a general downturn in the technology sector.
Consolidated revenues grew 11.4 per cent at Rs 10,341 crore.
HCL Technologies Ltd has entered China and is close to forging 'partnerships' with three Chinese firms so as to effectively penetrate the booming domestic market which has so far been a hard nut to crack for Indian software and servicing companies.
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen & Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra & Mahindra were the major gainers.
Aiming to make laptops a mass product, IT company HCL Infosystems on Tuesday introduced an ultra portable range of laptops at a starting price of Rs 13,990.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
From the Sensex basket, Tech Mahindra, Tata Steel, JSW Steel, HCL Technologies, Tata Consultancy Services, Larsen & Toubro and Kotak Mahindra Bank were the biggest laggards. Mahindra & Mahindra, Power Grid, Bajaj Finance, IndusInd Bank and Maruti were the major gainers.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the major gainers. Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
HCL Technology Ltd has secured a contract worth $180 million for its business process outsourcing service operations from BT, a global telecommunications services provider.
The company will be taking its total outsourcing offering to the retailers in the small and medium enterprise category, whereas for the large retailers, it will pitch the best-of-the-breed target solutions to cater to specific problems.
Leading IT solution provider HCL Technologies Ltd has signed an agreement with Glenmark Pharmaceuticals Ltd for implementing its comprehensive drug labeling framework
HCL Technologies on Tuesday reported a 3.6% increase in net profit at Rs 1,683 crore (Rs 16.83 billion) for the quarter ended March 31, 2015.
Making a comeback from surgery at 37 years of age in a physically demanding sport like squash is tough to say the least but recent Padma Shri awardee Joshna Chinappa is determined to get back on the PSA Tour at the earliest.
Last year the company had acquired four companies, including one in the telecom sector, and plans to do the same in the coming months.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
The move is part of the company's plans to expand its hardware, services and ICT systems integration and distribution business.
India's fourth largest software services exporter HCL Technologies on Thursday reported a 63.8 per cent rise in consolidated net profit at Rs 1,416 crore (Rs 14.16 billion) for the first quarter ended September 30, 2013, on the back of growth in Europe and encouraging macro-economic trends.
Asked about US President Barack Obama's proposal on tax restructuring, Chowdhry said he does not expect the move to affect Indian companies.
The company will offer the laptops at an equal monthly installment of Rs 699 for three years.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
Among the Sensex firms, State Bank of India, ITC, Nestle, Asian Paints, Tech Mahindra, Mahindra & Mahindra, Tata Consultancy Services and Hindustan Unilever were the major laggards. In contrast, HCL Technologies, Power Grid, Sun Pharma, NTPC, Bajaj Finance and Titan were the gainers.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 per cent, followed by HCL Tech, which gained 3.62 per cent. IndusInd Bank and PowerGrid closed with a gain of 3,60 and 3.34 per cent, respectively. Other gainers were Tech Mahindra, Hindustan Unilever, Bajaj Finserve and Bharti Airtel, among others. On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94 per cent.
To address more than a $1-billion opportunity, IT hardware vendor HCL Infosystems has tied up with Microsoft for bundling their products and offer complete integrated solutions for small and medium businesses.
Among the Sensex firms, Power Grid, ITC, JSW Steel, ICICI Bank, Tech Mahindra, Infosys, IndusInd Bank and Mahindra & Mahindra were the major laggards. Sun Pharma, Reliance Industries, HCL Tech, Hindustan Unilever, Bajaj Finance and Maruti were among the gainers.
Targetting the high-end segment, information technology company HCL Infosystems on Monday launched an integrated digital entertainment system -- Beanstalk Neo -- in partnership with Microsoft and Intel.
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
IT solutions provider HCL Technologies has acquired CapitalStream, a US-based lending automation solutions provider, for Rs 158 crore (Rs 1.58 billion) in an all-cash deal.
IT firm HCL Technologies on Wednesday posted 78.1 per cent jump in net profit at Rs 884.8 crore (Rs 8.84 billion) for the first quarter ended September 30.
HCL Technologies on Monday announced it has bagged a mandate from French aircraft maker Airbus for development of sophisticated embedded software.
Among the Sensex firms, HCL Tech, Wipro, Tata Consultancy Services, Tech Mahindra, Nestle, Tata Motors, Infosys, Bharti Airtel, UltraTech Cement and Tata Steel were among the laggards. On the other hand, Axis Bank, HDFC Bank, ICICI Bank, JSW Steel, Mahindra & Mahindra and Kotak Mahindra Bank were the major gainers.
The company is in talks with a few private banks and has signed on Citibank as one of the bankers to raise these funds, said sources. HCL Technologies and Citibank declined to comment saying that 'they do not comment on market speculation'.
Credit Suisse thinks it possible for the company to narrow its forecast ('guidance') range.
Expanding its operations in other countries, IT services company HCL Perot Systems is planning to set up a development centre in US to serve some of its North American clients in a more focussed manner.
The company has been manufacturing personal computers, both desktops and laptops, netbooks and tablet PCs.
Among the Sensex firms, Power Grid, HDFC Bank, Kotak Mahindra Bank, Reliance Industries, NTPC, State Bank of India, Tata Steel and Bharti Airtel were the major gainers. Bajaj Finance, Axis Bank, HCL Tech and Mahindra & Mahindra were among the major laggards.
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