Shares of HCL Infosystems today surged 18% after the company said it will distribute Apple products, including the iPhone, in the Indian market. After making a positive opening , the stock further jumped 17.3% to ₹50.50 on BSE.
At the National Stock Exchange (NSE), shares of the company soared 18% to ₹50.65. The company had said in July that it was in discussions with the US-based tech giant to distribute its products in India. In a regulatory filing yesterday, HCL Infosystems said it has signed an agreement for “distribution of iPhone and other Apple products” with Apple India.
It had signed a non-disclosure agreement with Apple India on December 23, 2016 and expressed interest in taking up distribution of Apple products in the country. Currently, Apple has distribution tie-ups with companies like Ingram Micro, Redington, Rashi Peripherals and Beetel Teletech in India.
