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HCL’s indicators are constructive, however pandemic will not be over but

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In an interview with ET, HCL Tech president and CEO C Vijayakumar stated though demand for digital applied sciences is accelerating, the chief matter of concern is that the Covid-19 pandemic continues to be raging. Vijayakumar additionally stated HCL Tech had no speedy plans for a buyback in contrast to a few of its friends and is as a substitute giving out the next dividend. Edited Excerpts:

ON ‘CAUTIOUS’ OPTIMISM


All the indications of demand and demand pipeline, deal closures, and so on, are trying constructive. But, bear in mind we’re nonetheless in the midst of this pandemic and even final week some geographies introduced lockdowns. So, whereas we imagine we are able to navigate it as a result of a number of work is getting achieved remotely, that’s only one ingredient we’ve to remember earlier than we develop into extraordinarily optimistic about all the things.

ON CONCERNS


Most shoppers wish to proceed their transformation programmes as they imagine that these programmes are very important to rising the resilience of the enterprise and rising relevance and modernisation – all of that is essential. So, there was an preliminary stoppage of initiatives, possibly in March-April. But very quickly they recognised that they should prioritise the important thing initiatives, after which make sure that these are progressing effectively. And, that’s the reason you see the income steering we gave versus what we actually delivered, is as a result of a number of clients that ramped down, shortly reprioritised and stated these are the areas which we wish you to work on.

Which are the pressured sectors?


The sectors that are seeing fast value discount are the vitality sector, some segments of retail CPG – clients who’ve seen some vital contraction in demand. They’re the best way to get the demand again.




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