Dim objWorkbook
xl_path="../test.xls"
Set gObjExcel = CreateObject("Excel.Application")
gObjExcel.DispalyAlerts = 0
Set objWorkbook = gObjExcel.Workbooks.Open(xl_path)
'Here the excel link is being created in sheet-1 to refer sheet-2's B4 cell.
gObjExcel.Cells(1,1).Value= "=HYPERLINK(""[Book1.xls]Sheet2!B4"",""click here"")"
gObjExcel.Save
gObjExcel.Quit
Set gObjExcel = Nothing