HCL Infosystems rose 6.42% to Rs 34 at 13:17 IST on BSE after the company announced a strategic distribution partnership with Dell India.
The announcement was made during trading hours today, 16 June 2015.
Meanwhile, the BSE Sensex was down 157.22 points, or 0.59%, to 26,429.33.
On BSE, so far 9.49 lakh shares were traded in the counter, compared with an average volume of 4.75 lakh shares in the past one quarter.
The stock hit a high of Rs 35.30 and a low of Rs 30.65 so far during the day. The stock hit a 52-week high of Rs 94.50 on 22 September 2014. The stock hit a 52-week low of Rs 30.65 on 16 June 2015.
The stock had underperformed the market over the past one month till 15 June 2015, falling 23.10% compared with 2.70% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 43.90% as against Sensex's 6.72% fall.
The small-cap company has an equity capital of Rs 44.58 crore. Face value per share is Rs 2.
Under the partnership, HCL Infosystems will leverage its pan-India network of partners to distribute Dell's entire hardware and software products. The strategic partnership will significantly widen the reach of Dell's products especially in tier 2 and tier 3 locations across the country. The partnership also involves comprehensive Go-to-Market initiatives and activities.
This partnership, would not only enable HCL's Partner Network to service back-to-back needs of its customers, but also provide augmented availability through the stock-and-sell route. HCL Infosystems as a leading enterprise distributor has been strengthening its portfolio by adding more OEMs (Original Equipment Manufacturer) to offer a comprehensive offering and choice to its partners and customers, HCL Infosystems said in a statement.
Both Dell and HCL are committed to expanding the range of solutions and reach in the marketplace in order to expand the customer base and depth of client relationships, the company added.
HCL Infosystems reported net loss of Rs 47.16 crore in Q3 March 2015 as against net loss of Rs 25.61 crore in Q3 March 2014. Net sales declined 30.15% to Rs 1376.19 crore in Q3 March 2015 over Q3 March 2014.
HCL Infosystems is India's premier IT services, solutions & distribution company enabling organizations to attain and sustain competitive advantage by leveraging information and communication technologies. It is a leader in IT services & solutions with a comprehensive portfolio of capabilities spanning IT & System Integration services and digitally-enabled learning and career development solutions to value-added distribution of technology & mobility products.
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