Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

HCL and Xerox expand Strategic Partnership to accelerate operational Transformation

Posted On: 2019-03-19 21:37:38

HCL Technologies (HCL), a leading global technology company, announced that it signed a managed services agreement with Xerox (NYSE: XRX). Under the terms of the agreement, HCL will manage portions of Xerox's shared services, including global administrative and support functions, including, among others, selected information technology and finance functions (excluding accounting). Leveraging HCL's global scale and capabilities, Xerox will strategically evolve its shared services into process-first, technology-led digital operations.

This seven-year agreement for an incremental $1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services. Under that agreement, HCL currently manages aspects of Xerox's mechanical, electrical and software engineering activities for printer and imaging product lines. Together, HCL and Xerox have delivered 215 U.S. patents and have created world-class R&D labs that are tightly integrated with Xerox infrastructure and standards.

"This expanded partnership is a testament to the strong Xerox-HCL relationship that has grown through multiple collaborations over the past 10 years," said C Vijayakumar, President and Chief Executive Officer, HCL Technologies. "This is a win-win agreement. Xerox will benefit from our global scale, best-in-class processes and investments in artificial intelligence, robotic process automation and transformation tools, and HCL will benefit from a long-term agreement to provide product support and administrative services to Xerox."

"The evolution of our shared services represents our culture of continuous improvement and allows us to more efficiently address customer needs while delivering significant cost savings to reinvest in the business," said Steve Bandrowczak, President and Chief Operations Officer, Xerox. "We selected HCL as our partner for this strategic initiative due to our successful track record together thus far and our shared values."

As part of the agreement, a group of Xerox employees will transfer to HCL (subject to compliance with European works council consultation and employment regulatory requirements). The employees who are transferring to HCL will have an opportunity to be part of a leading global technology company.

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.1034.6 as compared to the previous close of Rs. 1012.55. The total number of shares traded during the day was 36567 in over 1553 trades.

The stock hit an intraday high of Rs. 1040 and intraday low of 1013.6. The net turnover during the day was Rs. 37601593.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Garden Reach Shipbuilders & Engineers Ltd board to consider Q1 results on Aug 9, 2019

Amara Raja Batteries Ltd Q1 FY20 net profit at Rs. 140.91 crores

Cipla Ltd gets 7 observations from USFDA for API facility in Bengaluru

Kirloskar Pneumatic Co. Ltd. Q1 net profit at Rs. 3.46 crore

US FDA completes inspection at Strides' flagship facility in Bangalore

CG bags contract for 400 MW wind farm in Saudi Arabia

NCL Industries Ltd reports 4% growth in cement production in Q1 FY20

CRISIL reaffirms rating of Edelweiss Financial Services Ltd's short term borrowing

IndiGo reports PAT of INR 12,031 million and EBITDAR of INR 27,785 million in Q1 FY20

Brookfield to invest Rs. 25,215 crore in units of RIL's tower infrastructure trust

Bandhan Bank Ltd Q1 net profit rises to Rs. 701.14 crores

Mahindra CIE Automotive Ltd Q2 CY19 PAT drops to Rs. 126.22 crores

Bhageria Industries Ltd reports Q1 net profit of Rs. 17.01 crore

REC Limited launches US$ 650 Million 3.375% Notes

IOL Chemicals & Pharmaceuticals Ltd prepays term loan of Rs. 15.39 crore

McNally Bharat Engineering Company Ltd bags order from NLC India Ltd

RIL Q1 consolidated net profit at Rs. 10141 crores

L&T Technology Services Q1FY20 revenue rises on large deal wins

Dabur India Q1 Consolidated Net Profit surges 10.3%

Bhumika Group partners with Shoppers Stop Ltd. at Urban Square, Udaipur

HPL Electric partners with Haryana Steelers for Pro Kabaddi League Season 7

ICICI Lombard General Insurance Q1 FY20 PAT up 7.1% YoY

L&T Technology Services Ltd Q1 consolidated up at Rs. 203.9 crores

Indian Energy Exchange Ltd board to announce 1st quarter results on July 31, 2019

L&T Finance Holdings Ltd Q1 consolidated PAT at Rs. 548.79 crores

IndiaMART recognized as 'Top 5 Coding Powerhouse in India'

PNB to consider raising Rs. 5000 crore

Hindustan Zinc Ltd Q1 net profit slips to Rs. 1765 crores

AMAL Ltd Q1 FY2019-20 net profit at Rs. 2.99 crore

Phillips Carbon Black Ltd posts net profit of Rs. 66.82 crores in Q1 FY20

JM Financial Ltd Q1 FY20 consolidated PAT at Rs.127.29 crores

Sintex Plastics Technology Ltd board to proceed with offer received for French arm

BEML Ltd board to announce first quarter results on Aug 2, 2019

Dabur India Ltd posts consolidated PAT of Rs. 363.81 crores in Q1 FY20

USFDA inspects Cadila Healthcare Ltd's Baddi facility, no observation issued

Apollo Tyres Ltd board to consider Q1 results on July 31, 2019

Dhanuka Agritech Ltd Q1 net profit falls to Rs. 14.67 crores

Dr. Reddy's launches OTC store brand equivalent of Allegra-D®

RBL Bank Ltd reports consolidated PAT of Rs. 265.42 crores in Q1 FY20

Zydus' Nesher Pharmaceuticals receives final approval from the USFDA for Dextroamphetamine Saccharate, Amphetamine Aspartate Monohydrate, Dextroamphetamine Sulfate, and Amphetamine Sulfate ER Capsules

CCEA approves 2880 MW Dibang Multipurpose Project in Arunachal Pradesh Rs. 1600 crore expenditure

Bannari Amman Sugars Ltd board to approve 1st quarter results on Aug 14, 2019

Granules India Ltd board to announce 1st interim dividend, Q1 results on July 30, 2019

Larsen & Toubro Infotech Ltd announces Q1 FY20 results

STL delivers 63% growth, sets up FY20 for large data network innovations

Rallis India consolidated Q1 PAT at Rs 68 Crores, up 23.8% yoy

Reliance Power updates on rating downgrade by ICRA

Deepak Fertiliser sells stake in Desai Fruits

Vikas Multicorp Ltd assigned IVR BBB issuer rating

ABM Knowledgeware Ltd bags Rs. 14 crore contract under Thane Smart City Project in Maharashtra







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019