HCL Technologies: Partnering for growth

Shares of HCL Technologies climbed about 2% to hit their 52-week high of Rs 820.75 on BSE on September 18, and is looking set to extend gains into the second consecutive session after the software services exporter announced forging a partnership with Google Cloud.
HCL Technologies and Google Cloud have decided to expand their strategic partnership to bring HCL’s Actian portfolio, starting with Actian Avalanche, to Google Cloud.

Actian Avalanche is a high-performance hybrid cloud data warehouse designed to power an enterprise’s most demanding operational analytics workloads. Actian Avalanche enables a seamless path to migrate legacy data warehouses, including IBM Netezza and Oracle Exadata, to Google Cloud, through a hybrid-cloud offering leveraging Google Cloud’s Anthos application platform.

This latest announcement from HCL and Google Cloud expands a deep and growing partnership between the two companies to help organizations digitally transform.
Meanwhile, HCL Technologies has replaced replaced ITC, India’s largest cigarette maker, to become the nation’s 10th most valued firm by market capitalisation.

According to BSE, HCL Technologies’ market capitalisation stood at Rs 2.21 trillion, with its shares trading at a record high of Rs 810.95 on the BSE. The IT major’s shares have risen nearly 43.3% so far this year.
On Monday, HCL Technologies provided a surprising mid-quarter update, guiding for above-expected revenue growth of at least 3.5% quarter on quarter constant currency and operating margin in the range of 20.5-21% for second quarter of fiscal year 2021.

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