HCL Technologies Hits 52-Week High with Siemens AG Cloud Services Deal

7 Sep 2023 , 02:36 PM

HCL Technologies stock reached a 52-week high of Rs 1,255.80 on September 7 following a significant announcement. The company signed a multi-year managed public cloud services agreement with German technology giant Siemens AG.

The partnership with Siemens AG will focus on automating the public cloud environment while maintaining Siemens’ stringent security standards. 

HCL Tech will migrate and manage Siemens’ infrastructure on AWS and Azure, optimizing security and scalability allowing Siemens to concentrate on its core business. This collaboration solidifies HCL Tech’s position as a preferred global supplier in horizontal IT infrastructure services.

This marks the second significant deal by HCL Tech in just two days, following an agreement with Australian agribusiness Elders for digital transformation. HCL Tech will provide managed IT services, AI capabilities, application development, digital workplace solutions, cybersecurity, and data management to Elders.

The company’s shares have performed remarkably well, with a 20 % year-to-date increase and a one-year return rate of 34 %. HCL Technologies continues to expand its global presence and pursue strategic collaborations, positioning itself for growth in the IT sector.

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