India's HCL Technologies hits record high on Hancom deal

Hancom

14/09/2021 10:21

** Shares of software services provider  HCLT.NS  rise as
much as 2.50% to hit a record high at 1,238.65 rupees
    ** Co says it signed a deal with South Korean software firm
Hancom Inc  030520.KQ   urn:newsml:reuters.com:*:nFWN2QF0OT
    ** HCL will support training for software development at
Hancom's research and development center in India
    ** The two companies also plan to cooperate on global market
expansion, with HCL's business expansion into the South Korean
market
    ** Indian software services companies have seen increasing
demand as global businesses expand their digital offerings
during the COVID-19 pandemic
    ** About 4.7 mln HCLT shares change hands vs 30-day avg of
5.1 mln shares
    ** Thirty four out of 41 analysts tracking HCLT stock rate
it "buy" or "strong buy", 3 "sell" or "strong sell" and 4 "hold"
    ** HCLT shares up 29.12% so far this year, as of last close,
underperforming 44.9% gain in IT services index  .NIFTYIT 

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))