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HCL Tech signs multiyear IT infrastructure management deal with Purdue
HCL Tech has signed a multiyear end-to-end IT infrastructure management deal with
pharmaceutical company Purdue Pharma LP. The scope of this contract covers
management of two data centres and all remote locations of the client in the U.S. HCL
Tech will also be responsible for transforming Purdue’s IT environment by implementing its
world-class processes as per ITIL V3 and MTaaS platform, which is HCL Tech’s awardwinning
business-ready hosted platform for enterprise tools. HCL Tech will also be
implementing its shared Remedy V6 ITSM ticketing platform, which is based on the MTaaS
reference architecture. This deal would augur well for HCL Tech as the healthcare vertical
contributes 8.4% to the company’s revenue and now the vertical is gaining good traction.
At the current CMP of `404, the stock is trading at 12.7x FY2012E EPS of `31.9. We
recommend Accumulate on the stock with a Target Price of `462.
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