HCL Technologies Ltd Share Price – NSE  /  BSE

IT - Software, Mid Cap

HCL Technologies (HCL Tech) announced the launch of its global delivery center in Patna. The center will focus on delivery of IT and engineering services for Hi-Tech and Semiconductor companies.

This is HCLTech's first center in the state of Bihar. Going forward, the center will also house specialized labs and centers of excellence to boost HCLTech's technology innovation engine and will offer a wide range of services to global clients.

The new global delivery center is in line with HCLTech's strategy of accessing quality talent through expansion to new locations in India under its New Vistas program. Located inside the Udyog Bhawan Complex in Patna,the center will offer modern workspaces to employees along with training and growth opportunities across HCLTech's global network. This will also contribute to the development of the local technology ecosystem and talent pool in the state.

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HCL Technologies and IBM today announced a new collaboration to establish a Generative AI Center of Excellence (GenAI CoE) based on the IBM watsonx™ AI and data platform.

The CoE, which will be available through HCLTech's AI and Cloud Native Labs in Noida, London and New Jersey and Santa Clara in the US, will help enterprises modernize legacy applications, develop IT service management (ITSM) use cases, reduce coding complexity, improve skill development on the IBM watsonx™ platform and enable continuous innovation.

Together with IBM, HCLTech aims to train 10,000 of its engineers and architects in IBM's innovative AI technologies, specifically watsonx. The adaptive portfolio, CloudSMART for IBM, assists businesses in continuous innovation through advanced technologies, utilizing the latest business and technology insights.

The CoE will offer clients access to education and training resources covering diverse AI technologies, including watsonx.ai, watsonx.data, watsonx.governance, watsonx Code Assistants, watsonx Orchestrate and watsonx Assistant to help skill their resources and provide a platform for building use cases.

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HCL Technologies Ltd is up for a third straight session in a row. The stock is quoting at Rs 1477.15, up 1.2% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.44% on the day, quoting at 24116.5. The Sensex is at 79407.91, up 0.47%. HCL Technologies Ltd has risen around 12.38% in last one month.

Meanwhile, Nifty IT index of which HCL Technologies Ltd is a constituent, has risen around 13.9% in last one month and is currently quoting at 36157.5, up 2.42% on the day. The volume in the stock stood at 19.9 lakh shares today, compared to the daily average of 40.55 lakh shares in last one month.

The benchmark July futures contract for the stock is quoting at Rs 1474.2, up 1.53% on the day. HCL Technologies Ltd is up 25.01% in last one year as compared to a 24.81% spurt in NIFTY and a 25.85% spurt in the Nifty IT index.

The PE of the stock is 33.93 based on TTM earnings ending March 24.

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HCL Technologies will hold a meeting of the Board of Directors of the Company on 12 July 2024.

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