HCL Technologies jumps on entering into strategic global partnership with Verizon Business

HCL Technologies is currently trading at Rs. 1174.45, up by 39.85 points or 3.51% from its previous closing of Rs. 1134.60 on the BSE.

The scrip opened at Rs. 1170.00 and has touched a high and low of Rs. 1186.70 and Rs. 1154.50 respectively. So far 172325 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1202.70 on 05-Jul-2023 and a 52 week low of Rs. 875.65 on 29-Aug-2022.

Last one week high and low of the scrip stood at Rs. 1186.70 and Rs. 1125.10 respectively. The current market cap of the company is Rs. 318027.98 crore.

The promoters holding in the company stood at 60.81%, while Institutions and Non-Institutions held 34.33% and 4.85% respectively.

HCL Technologies has entered into a strategic global partnership with Verizon Business for managed network services. HCLTech will be Verizon Business's primary collaborator in all deployments involving Managed Network Services (MNS) globally for enterprise customers. The partnership combines Verizon’s networking power, solutioning, and scale with HCLTech’s market leading Managed Service capabilities to usher in a new era of large-scale wireline service delivery for enterprise customers.

Verizon Business will continue to lead all customer acquisition, sales, solutioning, and overall planning and development with its customers. HCLTech will lead post-sale implementation and ongoing support. To execute the tightly coordinated balance of responsibilities at enterprise scale, a select group of Verizon Business Global Customer Operations staff will transition to HCLTech.

The partnership will offer customers a best-in-class MNS portfolio, a highly digitized experience with data-driven service models, enhanced efficiency and lifecycle management with frictionless interface, a broad end-to-end partner ecosystem, and joint innovation on an integrated platform. These improvements will help customers navigate increasingly complex operating environments -- across diverse locations, geographies, and devices – while incorporating new technologies into their stack, including 5G, SD-WAN and SASE capabilities. HCLTech’s digital-native MNS platforms and customer interfaces are designed to help them manage that digitally, quickly, and seamlessly.

HCL Technologies is a leading global IT services company that helps global enterprises reimagine and transform their businesses through digital technology transformation.