HCL Technologies Share price

HCL Technologies Limited was originally incorporated on 12th November 1991 as "HCL Overseas Limited". The certificate of commencement of business was received on 10th February 1992. On July 14 1994 the name of the Company was changed to "HCL Consulting Limited". The Company changed its name to "HCL Technologies Limited" on 6th October 1999 to better reflect the line of activities of the Company.HCL is a global technology and software services company offering a suite of services targeted at technology vendors software product companies and medium to large end user organisations. These services are delivered through a global network of 24 sales and project management offices in 14 countries outside India and its 7 state-of-the-art offshore development factories based in India. The earnings of the Company are substantially from exports and the Company caters to the markets of US Europe and Asia-Pacific.The Company started the business by addressing the services on-site through HCL Technologies America Inc. in the U.S. which it acquired in 1994. This was followed by the setting up of software development factories in India. Presently the Company has 7 software development factories with total covered area of approximately 300000 sq. ft. The acquisition of certain R&D assets and taking over of employees associated with systems design in 1996 enabled the Company to expand its services to include Technology Development.Again in 1996 the Company subscribed to 60% stake in Intelicent Inc. in joint venture with James Martin & Co. Inc. Intelicent offers strategic methodology consulting led IT services. HCL has since acquired complete ownership control in the joint venture and now Intelicent operates as 100% subsidiary. The 50:50 joint venture with Perot Systems Corporation in the year 1996 provided access to high value client base of Perot Systems. This stake which was earlier held by the Promoter has been acquired by the Company. The joint venture entity namely HCL Perot Systems NV has built up its own marketing and delivery infrastructure.In the Year 1998 the Company started addressing the markets in Europe and Asia Pacific.The Company has invested significantly to create the global reach and the infrastructure it requires to execute the projects as per the client needs.