Here's why this IT company is trading in green despite the negative market sentiment!

Here's why this IT company is trading in green despite the negative market sentiment!

by 5paisa Research Team Last Updated: 2022-05-12T16:12:35+05:30

HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age.

HCL Tech has focused on transformational outsourcing and offers an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. The company leverages its extensive global offshore infrastructure and network of offices in 46 countries to provide multi-service delivery in key industry verticals.

On 9th May 2022, it announced it will acquire, through its wholly-owned subsidiary, a Bengaluru-based Quest Informatics Private Limited (Quest) which is a company specializing in the aftermarket domain. Quest helps clients transform their aftermarket operations and their customer experience, and revamp their legacy business models to stay relevant and competitive in the digital era, in an all-cash deal.

Quest will help expand HCL Technologies’ Industry 4.0 offerings into the fast-growing aftermarket space. Quest's suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey. The deal is expected to be complete before July 31, 2022.

On 9th May 2022, it also announced a strategic partnership with Syniti. This collaboration with Syniti, a global leader in enterprise data management that combines AI-driven software and data expertise, will help develop industry-specific data solutions and deliver higher quality SAP S/4HANA transformations. HCL Technologies will adopt the Syniti Knowledge Platform (SKP) as its strategic data migration platform to provide customers with improved data management strategy and higher quality data.

HCL is on the path of transforming its existing business. On Thursday the share price of HCL Technologies was Rs 1061 witnessing a 0.08% gain. The stock has a 52-week high of Rs 1377 and a 52-week low of Rs 895.30.

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