Stock Watch

Software services provider HCL Technologies Ltd on Tuesday reported a bigger-than-expected increase in profit for the quarter ended March 31, 2013.

HCL announced that its quarterly net profit jumped to Rs 10.4 billion in the three months through the end of March, 73 per cent up from Rs 6 billion in the year-ago period.

A group of 16 analysts surveyed by Thomson Reuters had projected a net profit of Rs 9.35 billion for the company's fiscal third-quarter. The growth was also much better than rival firm Infosys' 3 per cent quarterly-profit growth.

HCL Corporation owned by Mr. Shiv Nadar and his family sold 2.5%stake in IT services company HCL Technologies to raise over Rs. 581 croreon last Thursday.

The fund from the sale will be utilized in the philanthropic initiatives in the field of education of the Nadar foundation.

Though HCL Corporation did not disclose the amount it had raised through the transaction according to the market sources the share got sold for Rs. 347 each resulting to Rs 581 crore to be precise.

On Thursday, one of India's leading IT player, HCL Corp sold 2.5 per cent of its stake in HCL Technologies.

The company sold 16.75 million shares in its subsidiary on the Bombay Stock Exchange.

As per the reports, the sale proceeds will be given to Shiv Nadar Foundation. This money then will be used for philanthropic activities and initiatives.

Leading IT Services Company of the country, HCL Technologies has declared that it has finalized a deal with Singapore Exchange. As per the announcement, the company has signed an outsourcing agreement with SGX. The financial aspects of this deal have been announced as well.

The worth of this deal is $ 110 million which is around Rs 506 crore. The deal between both the companies is for next five years. As per this agreement, HCL will provide infrastructure support and management services to SGX. This has been informed by the India IT company in a joint statement with SGX.

Leading IT services provider, HCL Technologies Ltd has received a contract from Melbourne IT for managing the business transformation project in its Integrated Web Services.

The deal signed on April 30 will see HCL manage the project for a period of three years. The deal would allow the Australian company to enhance the value of the company’s customer base by enabling it to deliver comprehensive services to its customers across various regions.

Talisma Corporation, a campus management company and a customer relationship management (CRM) software provider, has entered into a partnership with HCL Technologies BPO Services to offer its clients an end-to-end service.

HCL and Talisma will merge their BPO and CRM expertise, respectively, to offer enriched service centre functionality to its customers, the companies said in a statement.

HCL Technologies, the giant IT firm, has confirmed that it has managed to win a 5 year long multi-million Pounds deal from Britain based New International, a division of the American News Corp, for providing "software services" to the publishing giant.

As per the deal, HCL will be taking care of News International's "data centre and network environments", all the while developing ideas to strategically and efficiently transform them.

Recently, a service contract worth $200 million was won by HCL Technologies from Equitable Life Assurance Society. The aim of the contract, which initiates in March 2011, is to provide cost benefits to Equitable Life’s policyholders via the transfer of core processing and support activities needed to operate its closed book of business.

HCL Technologies, a leading offshore IT & software development company, has entered into an alliance with Varicent Software Inc.

Under the arrangement, HCL will provide clients with systems integration expertise delivering Varicent SPM solutions in the Asia-Pacific region and implementing Varicent for Microsoft Dynamics CRM in North America.

The company officials believe that the latest tie-up would enable HCL Technologies to build upon its existing strengths in Microsoft Dynamics, which forms part of HCL’s Enterprise Application Services practice.

HCL Technologies (HCL), a leading global IT service provider, has entered into a five year Transformational IT Infrastructure Management engagement with the Energy Future Holdings Corps (EFH), a Texas-based, privately-held energy company with a portfolio of competitive and regulated energy subsidiaries.

Under the arrangement, HCL will be responsible for managing EFH's IT infrastructure landscape comprising of Data Center (DC), Voice and Data Networks and End User Computing Services.