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HCL Technologies announced the signing of a significant strategic partnership with a Europe headquartered, Fortune Global 50 Firm to establish an AI driven operating model to transform and manage their Global Digital Workplace and Enterprise Networks.
The initial term of the agreement is from July 2026 to December 2031, extendable for a further period of 5 years. The estimated value of the agreement during the initial term is US $ 1.14 Billion. This is entirely a net new business for the company.
HCL Technologies is a global technology company. It delivers capabilities centered around AI, digital, engineering, cloud and software, powered by a broad portfolio of technology services and products.
The company reported 6.4% fall in consolidated net income to Rs 4,488 crore as revenues rose by 0.3% to Rs 33,981 crore in Q4 FY26 as compared with Q3 FY26. For FY27, the company expects revenue to grow by 1.0% to 4.0% YoY while the Services revenue growth is expected to be between 1.5% and 4.5% YoY in CC terms.
HCL Technologies Ltd rose 4.67% today to trade at Rs 1127.85. The BSE Information Technology index is up 1.85% to quote at 26807.25. The index is down 6.26 % over last one month. Among the other constituents of the index, Zensar Technologies Ltd increased 3.85% and R Systems International Ltd added 3.1% on the day. The BSE Information Technology index went down 29.57 % over last one year compared to the 6.11% fall in benchmark SENSEX.
HCL Technologies Ltd has lost 4.3% over last one month compared to 6.26% fall in BSE Information Technology index and 5.12% rise in the SENSEX. On the BSE, 82644 shares were traded in the counter so far compared with average daily volumes of 2.44 lakh shares in the past one month. The stock hit a record high of Rs 1770 on 03 Feb 2026. The stock hit a 52-week low of Rs 1030 on 01 Jul 2026.
IT, pharma and realty shares in advanced while PSU bank, media and auto shares declined.
At 13:25 ST, the barometer index, the S&P BSE Sensex jumped 383.61 points or 0.49% to 77,886.45. The Nifty 50 index rose 133.10 points or 0.54% to 24,308.65.
In the broader market, the BSE 150 MidCap Index fell 0.19% and the BSE 250 SmallCap Index rose 0.10%.
The market breadth was positive. On the BSE, 2,138 shares rose and 1,986 shares fell. A total of 208 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.29% to 11.88.
Economy
India's services sector remained in expansion mode in June, although growth lost momentum amid challenging market conditions and softer client demand. The seasonally adjusted HSBC India Services PMI Business Activity Index eased to 57.4 in June from 59.8 in May, marking the weakest pace of expansion in 17 months, while remaining well above the 50-point threshold that separates growth from contraction. Hiring activity was largely stagnant, business confidence weakened, and cost pressures eased, while new export orders grew at the fastest pace in three months.
Gainers & Losers:
HCL Technologies (up 6.64%), Tech Mahindra (up 3.36%), Max Healthcare Insitute (up 2.77%) and Bajaj Finserv (up 2.53%) were the major Nifty50 gainers.
State Bank of India (SBI) (down 1.39%), Axis Bank (down 0.72%), Kotak Mahindra Bank (down 0.68%) and Indigo (Interglobe Aviation) (down 0.63%) were the major Nifty50 losers.
Stocks in Spotlight:
HCL Technologies rallied 6.64% after the company signed an agreement with a Europe headquartered, Fortune Global 50 Firm to transform their global digital workplace and enterprise networks using Artificial Intelligence (AI).
Marathon Nextgen Realty advanced 0.04%. The company announced that its subsidiary Sunset Spaces has executed a development agreement for the redevelopment of the society located at Versova, Mumbai.
Krystal Integrated Services rose 0.75%. The company has secured a work order from the Director of Backward Classes (BC) Welfare Department, Andhra Pradesh, for providing cleaning and sanitation services across government hostels.
Bluspring Enterprises jumped 4.14% after the company’s subsidiary, STEAG Energy Services (India) has secured a comprehensive operations and maintenance contract from Vedanta Aluminium Metal for a captive power plant. The contract covers a 1,215 MW (9x135 MW) captive power plant at VAML and has an estimated value of Rs 1,437.17 crore.
Central Bank of India rose 0.31%. The company reported a 28.77% year-on-year (YoY) increase in its global gross advances to Rs 3,54,895 crore as of 30 June 2026, compared with Rs 2,75,595 crore as of 30 June 2025.
PC Jeweller surged 4.77% after the company reported an approximately 21% year-on-year increase in consolidated revenue for the quarter ended 30 June 2026.
Mahindra & Mahindra Financial Services added 2.47% after the company estimated the overall disbursement at approximately Rs 15,560 crore, YoY growth of around 21% (excluding finance lease).
Bajaj Finance gained 1.46% after its new loans booked rose 20% year-on-year to 1.61 crore in Q1 FY27, compared with 1.35 crore in the corresponding quarter last year.
Global Markets:
European and Asian market advanced on Friday after a lukewarm U.S. jobs report poured cold water on the prospect of an imminent rate hike from the Federal Reserve and regional activity gauges pointed to an economic expansion during June.
Purchasing Managers' Index (PMI) data released on Friday indicated increased activity across the region.
Japan's services sector returned to expansion in June after stalling the previous month, though business confidence remained subdued amid concerns over Middle East tensions and intensifying cost pressures, a private survey showed on Friday. The S&P Global final Japan Services Purchasing Managers' Index (PMI) rose to 52.2 in June from 50.0 in May, signalling a renewed rise in business activity.
Meanwhile, China's services activity expanded at a slightly slower pace in June as growth in new business eased, though overseas demand rose at the fastest rate in 20 months, a private-sector survey showed on Friday. The RatingDog China General Services Purchasing Managers' Index, compiled by S&P Global, fell to 54.1 from 54.4 in May, staying above the 50-mark that separates expansion from contraction.
Overnight on Wall Street, the Dow Jones Industrial Average scaled to record highs on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June, while the Nasdaq Composite languished as semiconductors struggled once again.
The US economy added 57,000 jobs in June 2026, significantly below both the downwardly revised 129,000 recorded in May and market expectations of 110,000. It marks the weakest monthly job growth in four months, ending a streak of three consecutive months of stronger-than-expected gains.
The 30-stock average added 594.83 points, or 1.14%, for a record close of 52,900.07. The index hit a new all-time intraday high of 52,903.85. The S&P 500 rose less than 1 point to end at 7,483.24, while the Nasdaq dropped 0.8% to 25,832.67.
In the cash market, the Nifty 50 index jumped 95.15 points or 0.39% to 24,270.85.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 3.98% to 11.80.
HCL Technologies, Infosys and PB Fintech were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The July 2026 F&O contracts will expire on 28 July 2026.
Building on HCLTech's recently launched Gemini Enterprise business unit, the latest collaboration brings together advanced ServiceNow AI capabilities, enterprise workflow orchestration and industry expertise to enable organizations to deploy and scale AI in real business environments.
HCLTech will introduce enterprise AI solutions on Gemini Enterprise that combine Gemini's advanced AI capabilities with ServiceNow's workflow platform - anchored in ServiceNow's Blueprint for Agentic Business, , a framework for structured, outcome-driven AI adoption. This includes a next-generation Factory Shop Floor Assistant, which delivers real-time operational intelligence to manufacturing environments, enabling faster decision-making and improved efficiency.
Initial solutions span two high-impact domains: Field Services, where Gemini Live, integrated with ServiceNow Field Service Management, delivers real-time audio and visual intelligence to field technicians for faster issues resolution; and Customer Experience, to ensure customer intent is preserved across channels. HCLTech is also leveraging ServiceNow's AI Control Tower to enhance visibility and governance of AI agents within Gemini Enterprise, while an ITOps ServiceNow Agent— available on Google Cloud Marketplace for Gemini Enterprise—supports incident management and remediation in enterprise IT environments.
HCL Technologies (HCLTech) announced a multi-year strategic partnership with e.solutions, a Germany based automotive software specialist and part of Volkswagen Group, for the development of next-generation software-defined infotainment and connectivity solutions.
The engagement will focus on scaling AI-enabled future infotainment and connectivity platforms built on Android Automotive, in line with the growing demand for connected, digital in-vehicle experiences.
HCLTech will support the development, integration and validation of production-grade human-machine interface (HMI) software for multiple vehicle programs, enabling consistent deployment across varied hardware platforms and global markets.
HCL Technologies announced the launch of an AI Innovation Zone in Chennai to enable enterprises to innovate and operationalize Intel-based AI products and HCLTech AI solutions, accelerating the transition from experimentation to production-ready, cost-efficient AI deployments.
Featuring enterprise AI solutions powered by Intel® Xeon® 6 processors with integrated Intel Advanced Matrix Extensions (Intel AMX) and Intel® CoreTM Ultra, the AI Innovation Zone underscores HCLTech and Intel's shared commitment to enabling broad AI adoption via an integrated AI Factory, with a focus on scalable and economical AI deployment.
Spanning the full AI stack, from data center infrastructure to end user experiences on AI PCs , this AI Innovation Zone enables hands-on exploration of Intel® Xeon®-based HCLTech solutions.
The facility showcases small language model (SLM) optimization and AI Platform-as-a-Service capabilities built on Red Hat OpenShift and OpenShift AI, helping enterprises reduce complexity and lower the barriers to operationalizing AI at scale. HCLTech demonstrations include testing and validation of AI Force, HCLTech's GenAI-led service transformation platform; VisionX 2.0, a vision and video-based AI analytics platform and AI Factory, an end-to end 'edge to cloud', factory-integrated AI infrastructure platform, alongside real-world use cases such as retrieval augmented generation (RAG), Agentic AI notebooks and cognitive AI.
The investment forms part of Sarvam AI's $300 million Series B funding round. The company said it has raised $234 million in the first close of the round at a post-money valuation of $1.5 billion, with HCL Tech participating as the lead strategic investor.
Sarvam AI develops foundation models and AI products across text, speech, vision and document processing. The company focuses on sectors such as banking, insurance, government technology and defence. It reported unaudited revenue of Rs 45.1 crore in FY26, compared with Rs 1.5 crore in FY25.
HCL Tech said the investment will support Sarvam AI's research and development efforts, including the training of next-generation AI models for agentic AI, coding and cybersecurity applications. The partnership is also expected to help HCL Tech develop industry-specific AI models and sovereign AI solutions for enterprise and government clients.
The company said the collaboration will strengthen its AI offerings by combining HCL Tech's enterprise expertise and global customer relationships with Sarvam AI's model development and infrastructure capabilities.