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HCL Technologies rises after tie-up with Deutsche Bank
06-Nov-18   10:24 Hrs IST

The announcement was made after market hours yesterday, 5 November 2018.

Meanwhile, the S&P BSE Sensex was up 163.53 points, or 0.47% to 35,114.45.

On the BSE, 14,000 shares were traded in the counter so far compared with average daily volumes of 68,000 shares in the past two weeks. The stock had hit a high of Rs 1041.05 and a low of Rs 1023.40 so far during the day. The stock hit a record high of Rs 1,124.50 on 25 September 2018. The stock hit a 52-week low of Rs 825.10 on 4 December 2017.

Deutsche Bank and HCL Technologies (HCL), a leading global technology company, announced a strategic partnership to transform the bank's global cheque processing operations. Under the terms of the agreement, HCL will build a cloud-based digital and fully scalable cheque processing platform for the bank. The new IT-platform is expected to go live in 2019.

The new cloud-based IT-platform will enable Deutsche Bank to further reduce the complexity of its IT landscape, decrease cost, increase straight-through processing capabilities and efficiencies in cheques processing. Moreover, through advanced data analytics, the bank will enable its corporate and institutional clients to use data generated out of the platform, to better manage business flows and working capital.

On a consolidated basis, HCL Technologies' net profit rose 4.24% to Rs 2,534 crore on 7.08% increase in net sales to Rs 14,860 crore in Q2 September 2018 over Q1 June 2018.

HCL Technologies (HCL) is a leading global technology company that helps global enterprises re-imagine and transform their businesses through digital technology transformation.

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