HCL Info up 18% on plans to distribute Apple products in India

Updated: Tue, Aug 22, 2017
12:59 pm
PTI
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities

Shares of HCL Infosystems today

surged 18 per cent after the company said it will distribute

Apple products, including the iPhone, in the Indian market.

The stock after making a positive opening further jumped

17.3 per cent to Rs 50.50 on BSE.

At NSE, shares of the company soared 18 per cent to Rs

50.65.

The company had said in July that it was in discussions

with the US-based tech giant to distribute its products in

India.

In a regulatory filing yesterday, HCL Infosystems said it

has signed an agreement for "distribution of iPhone and other

Apple products" with Apple India.

It had signed a non-disclosure agreement with Apple India

on December 23, 2016 and expressed interest in taking up

distribution of Apple products in the country.

Currently, Apple has distribution tie-ups with companies

like Ingram Micro, Redington, Rashi Peripherals and Beetel

Teletech in India.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.