HCL Technologies surges on inking multi-million dollar deal with Deutsche Bank's arm

HCL Technologies is currently trading at Rs 408.40, up by 5.15 points or 1.28% from its previous closing of Rs 403.25 on the BSE.

The scrip opened at Rs 409.00 and has touched a high and low of Rs 410.90 and Rs 401.40 respectively. So far 124000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 528.40 on 21-Apr-2011 and a 52 week low of Rs 360.10 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs 410.90 and Rs 380.00 respectively. The current market cap of the company is Rs 28164 crore.

The promoters holding in the company stood at 64.37% while Institutions and Non-Institutions held 27.48% and 8.15% respectively.

HCL Technologies, leading global IT services provider has entered into a strategic 5-year, Application Support Transformation deal with Deutsche Bank’s Capital Markets arm. The multi-million dollar deal heralds a perfect beginning to celebrations marking a decade of the HCL’s relationship with Deutsche Bank.

The service factory delivery model implemented by HCL is expected to significantly enhance productivity, driven by transparent Service Level Agreements (SLAs) and performance metrics, and comes as Deutsche Bank endeavors to move away from a traditional applications support model to a set of unique process driven services governed by global standards like Information Technology Infrastructure Library (ITIL) and LEAN. The transformational programme, which will result in significant vendor consolidation, involves the management of key banking applications that are the backbone to the Deutsche Bank’s critical businesses.

This deal is one of the significant milestones in the strategic roadmap that has been charted by the company and it is delighted to continue along this journey with Deutsche Bank.

Leading global banks are looking for ways to improve their application product management, in order to increase efficiency and enhance productivity. As part of this development, key processes have to be transformed throughout the organization and hence the choice of partner becomes crucial. The bank’s association with HCL displays its belief in the delivery, skills and competitiveness of the latter.

HCL Technologies is a leading global IT services company, working with clients in the areas that impact and re-define the core of their businesses