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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  HCL Technologies Limited    HCLTECH   INE860A01027

HCL TECHNOLOGIES LIMITED

(HCLTECH)
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HCL Technologies : enters Sri Lanka with strategic investment

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02/09/2020 | 11:59pm EDT

HCL Technologies (HCL), a leader in global technology, has signed an agreement with the Board of Investment (BOI) of Sri Lanka, announcing the establishment of its global delivery centre in Colombo. Marking its presence within the region, HCL aims at boosting employment, providing resources and skilling the local talent to serve its global clients.

Founded in 1976, HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age. A true multinational, HCL is headquartered in India with significant global presence across various key industries and sectors, the company said in a media release.

A key part of HCL's business and development strategy in Sri Lanka will be to generate local employment and provide the right skilling programmes that will augment the growth of the knowledge services industry in the island. Collaborating with the BOI, HCL's local entity - HCL Technologies Lanka (Pvt) Ltd will implement its Work Integrated Education Programme to foster growth by actively cooperating with local ICT and engineering institutions to develop and train the island's talent pool. Through this delivery centre in Colombo global clients will be provided with valuable services in the areas comprising of Applications and System Integration Services, Infrastructure Services and Digital Process Operations.

'It is a landmark moment for us as we begin our operations in the beautiful country of Sri Lanka. We are very happy with the progressive policies this country has and thus, we are fully prepared and committed to bring in new opportunities for the local workforce and creating ever-lasting partnerships within the region. Our valuable partnership with the BOI will help us showcase the true essence of our culture of 'Relationship Beyond the Contract'. By imbibing our ideapreneurshipS culture we will be aiming to provide best-in-class support to the global clients with the help of local talent pool,' said Corporate Vice President of HCL Technologies, Srimathi Shivashankar.

BOI Director General Champika Malalgoda said: 'We are pleased to partner with HCL Technologies - one of the world's leading technology companies to take forward our development vision for Sri Lanka. Sri Lanka has built a reputation for hardworking, dedicated and talented IT professionals who have delivered innovative and futuristic IT solutions to the world.'

© Pakistan Press International, source Asianet-Pakistan

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Financials (INR)
Sales 2020 706 B
EBIT 2020 137 B
Net income 2020 108 B
Finance 2020 97 036 M
Yield 2020 3,06%
P/E ratio 2020 10,6x
P/E ratio 2021 9,72x
EV / Sales2020 1,47x
EV / Sales2021 1,33x
Capitalization 1 137 B
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Number of Analysts 39
Average target price 637,66  INR
Last Close Price 419,00  INR
Spread / Highest target 86,2%
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Spread / Lowest Target -8,59%
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C. Vijayakumar President & Chief Executive Officer
Shiv Nadar Chairman, Chief Strategy Officer & MD
Prateek Aggarwal Chief Financial Officer
Hanumantha Rao Gade President-Engineering, R&D Services
Kalyan B. Kumar Chief Technology Officer & Corporate VP
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