HCL Technologies

Tech division of HCL collaborates with Microsoft to accelerate AI-fueled offerings

HCLSoftware, the software business division of HCL Technologies (HCLTech), has entered into collaboration with Microsoft to integrate Microsoft’s Azure OpenAI Service into its software products. By combining HCLSoftware’s expertise in software development and AI with Microsoft’s AI technologies, the two companies aim to create a new generation of intelligent applications that can transform industries.

HCLSoftware will infuse Microsoft’s AI technologies across HCLSoftware’s four clouds: Business Cloud, Hybrid Data Cloud, Create & Compose Cloud, and Intelligent Automation Cloud, thus revolutionizing the way businesses create value for their customers. HCLSoftware also uses GitHub Copilot, an AI-powered coding tool that helps developers write high-quality code faster, reduce time spent on repetitive tasks and focus on more complex problem-solving challenges.

HCL Technologies is one of the leading global IT services companies that ranks among the top four Indian IT services companies in terms of revenues. HCL leverages its extensive global offshore infrastructure and network of offices in 50 countries to provide multi-service delivery in key industry verticals, including manufacturing, financial services, media, telecommunication, healthcare, technology, and public services, among others.

The company provides an array of services including IT infrastructure services, application services, business process outsourcing services, and engineering and R&D services. The company’s client base comprises several marquee clients (Fortune 500) with opportunities to cross-sell and up-sell product offerings.

Today, the stock opened at Rs 1157.95, with a high and low of Rs 1157.95 and Rs 1136.55. The stock closed trading at Rs 1140.90, down by 0.88%.

The stock has a 52-week high of Rs 1,202.70 and a 52-week low of Rs 875.65. The company has a ROCE of 28.3% and an ROE of 23.0% with a market capitalisation of Rs 3,09,873 crore.

In the last one year, the shares of the company have given about 18% returns, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

Shares of HCL Technologies rise on extending partnership with Husqvarna Group

About the Partnership

HCL Technologies and Swedish manufacturer Husqvarna Group have extended their strategic IT and digital transformation partnership. In a major milestone for HCLTech, this is the first time a large global IT contract by an India-headquartered technology company has been Vested certified. The Vested approach to drawing up contracts, based on the University of Tennessee’s Haslam College of Business Administration’s award-winning research, fosters an environment of innovation that improves service, reduces costs and unlocks business value for the parties involved in the contract. Vested contracts focus on creating an environment conducive to highly collaborative business relationships.

Under the new five-year agreement HCLTech will leverage its AI, digital, engineering and support services to enhance the resilience and stability of Husqvarna Groups’ IT environments through hyper-personalized, adaptive, AI-based solutions and a collaborative governance framework.

Share price movement
Shares of HCL Technologies is currently trading at Rs 1326.20, up by 8.90 points or 0.68% from its previous closing of Rs 1317.30 on the BSE. The scrip opened at Rs 1320.05 and touched a high and low of Rs 1340 and Rs 1319.30 respectively. So far 68,182 shares have been traded on the counter.

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high of Rs 1350 and a 52-week low of Rs 1011.60. Last one week high and low of the scrip stood at Rs 1350 and Rs 1308.40, respectively. The current market cap of the company is Rs 3,59,777.72 crore. The promoters holding in the company stood at 60.81%, while Institutions and Non-Institutions held 34.44% and 4.75%, respectively.

About the company
HCL Technologies is a leading global IT services company. Enterprises across industries stand at an inflection point. To thrive in the digital age, technologies such as analytics, cloud, IoT, and automation occupy centre stage. To offer enterprises the maximum benefit of these technologies to further their business objectives, HCL offers an integrated portfolio of products and services through three business units. These are IT and Business Services (ITBS), Engineering and R&D Services (ERS), and Products and Platforms (P&P).

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.