HCL Technologies has reached a significant milestone as its shares touched a 52-week high of Rs 1,255.80 on September 7. The surge comes following the company’s announcement of a multi-year managed public cloud services agreement with Siemens AG, a prominent German technology and high-tech industry giant.
Under this agreement, HCL Tech will concentrate on automating the public cloud environment while maintaining Siemens’ stringent security standards. The move is expected to enable Siemens to shift its infrastructure to AWS and Azure cloud platforms, ensuring optimal security, scalability, and efficiency. This, in turn, will allow Siemens to place more emphasis on its core business operations.
HCL Technologies has been designated as one of the preferred global suppliers in horizontal IT infrastructure services. The specific financial details of the deal have not been disclosed.
This announcement follows another significant partnership announced by HCL Tech on September 6. The company revealed its collaboration with Elders, a leading Australian agribusiness, to expedite digital transformation across Elders’ business operations. As part of this multi-year IT services partnership, HCL Tech will provide managed IT services, including harnessing HCL’s AI offerings, application development and management, digital workplace capabilities, infrastructure, cybersecurity, and data management for Elders.
HCL Technologies has seen a 20 percent year-to-date increase in its share price, with a remarkable 34 percent return over the past year.
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