July 7, 2006
The media had reports that HCL Technologies Ltd has bagged $780 million outsourcing deal from Skandia.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
HCL Technologies Ltd has vide its letter inter-alia stated, "We would like to place on record that our Company, in line with its stated policy, does not respond to market rumours and hence has no comments to offer in regard to the said news item. Further, at any point in time, HCL is in dialog with several prospective customers and it is highly prejudicial to our interest and indeed our customers' interests to take cognizance of, and clarify, such speculative reports. Commenting on any such relationships would also infringe on confidentiality agreements/covenants entered into with such customers which prevent us from making any disclosures until we get the consent from our customers to make press releases on such contract wins."
Source: National Stock Exchange of India Limited
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