India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
HCL Tech signs strategic partnership with Lojas Renner
HCL Tech has signed a multi-year partnership with Lojas Renner – the second largest
fashion retailer in Brazil to support its aggressive growth plans in the Brazilian retail
market. Under this, HCL Tech will be responsible for supporting Oracle Systems, deployed
in more than 130 stores of Lojas Renner across Brazil. HCL Tech has been working with
Lojas Renner for more than a year and has been engaged in strategic consulting programs
aimed at optimising the performance of Oracle Retail and e-business environments at
Renner. HCL Tech has also partnered with Lojas Renner on developing a significant
number of applications that support store operations and reporting for Lojas Renner.
HCL Tech will be delivering these services from its global delivery centre in Sao Leopoldo,
which is conveniently located close to Renner‘s headquarters in Porto Alegre, Rio Grande
do Sul. This deal would augur well for HCL Tech to scale its revenue from the retail
vertical, which currently contributes 7% to the company’s revenue and grew by 13% in the
last quarter. At the CMP of `431, the stock is trading at 13.5x FY2012E EPS of `31.9.
We maintain our Accumulate view on the stock with a Target Price of `462.
No comments:
Post a Comment