Trending Small Cap Stock: Apple to shake hands with HCL Infosystems

Apple is all set to sign a deal with HCL Infosystems to expand its existence in retail space, especially in the smaller towns which will be its next growth driver.
 
“The deal is expected to be signed this week and the business will start from next month,” the company official said.
 
At present, around 55 per cent of sales of Apple products are from e-commerce channels in India, but Apple wants to expand its offline trade on a view to increase its reach in smaller town.
 
Currently Apple is distributing its products through its four partners in India - Ingram Micro, Redington, Rashi Peripherals and Beetel Teletech.

As per the agreement, HCL will provide complete sales and support for Apple products in India.
 
HCL Infosystems Limited is a distribution and information technology (IT) services and solutions company. The Company's principal activities include cellular phones, and computers/micro processor-based systems. Its segments include Hardware products & solutions, and distribution

On Tuesday’s trade, the stock has opened at Rs.48.30 per share touching a high/low of Rs.54.15/Rs.48.30 and on 11:34 am the stock is quoting at Rs.53.65 per share surging with 14.27 per cent.