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.