Shares of HCL Technologies improved today on reports that the company has entered into a joint venture with London-based management consulting firm, m.a.partners.
Stocks of the country's fifth largest software exporter climbed 3.10 per cent to close at Rs 194.85.
Over 3.90 lakh shares of the company changed hands on the Bombay Stock Exchange, while the volume of trade on the National Stock Exchange was 11.13 lakh shares.
In the five sessions between August 8 and August 16, 2002, the stock advanced 8.5 per cent to Rs 189, from Rs 174.40.
On Friday, HCL Tech announced that it had entered into a joint venture with m.a.partners, a management consulting firm, to address software services opportunities in global finance markets, especially in the areas of investment banking, asset management and private banking.
m.a.partners brings a wealth of domain expertise and clients, including many of the top global investment banking companies, to the joint venture.
HCL Tech will hold a 51 per cent stake in the new company, while the balance 49 per cent will be held by m.a.partners. The initial funding will be POUND 800,000.
