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HCL Technologies hits fresh highs on new deals, partnerships

Our Bureau Mumbai | Updated on September 21, 2021

HCL Tech onboarded over 1,500 freshers in the second quarter

Announces five-year, digital transformation deal with MKS Instruments Inc, to set up fintech lab in Germany

Shares of HCL Technologies Ltd hit fresh highs on Tuesday after the company announced a new five-year, digital transformation deal with MKS Instruments Inc.

Separately, the company has also announced that it will establish a new Fintech lab in Germany.

At 1:42 pm, HCL Tech was trading at ₹1,300.85 on the BSE, up ₹25.50 or 2.00 per cent. It recorded a fresh 52-week high of ₹1,315.10. It had opened at ₹1,287.15 as against the previous close of ₹1,275.35 and recorded an intra-day low of ₹1,276.6.

On the NSE, it was trading at ₹1,302, up ₹25.85 or 2.03 per cent. It recorded a fresh 52-week high of ₹1,315.00.

HCL Tech on Monday announced a five-year, digital transformation deal with MKS Instruments Inc., a global provider of instruments, systems, subsystems and solutions for advanced manufacturing processes.

HCL will drive digital and cloud-enabled transformation for MKS Instruments through AI/ML-led automation, enhanced user experience with end-to-end infrastructure services, digital workplace services and IT transformation, it said.

MKS Instruments’ employees in nearly 60 countries will be able to leverage HCL’s network of global delivery centres and its wide breadth of technology solutions, including its AI and automation frameworks and tools.

Separately, HCL Tech has entered a multi-year application services transformation partnership with Lendico, a brand of ING Germany, to deliver application and engineering services to create a digital platform that makes business banking faster and more convenient for small- and medium-sized enterprises (SMEs), the company announced on Tuesday.

"HCL will establish a tech lab in Berlin that will combine a fintech mindset, agile culture and customer focus with engineering expertise, global delivery capabilities, and deep domain knowledge of financial services and risk management," it said.

Lendico will be the first to leverage the lab for innovative approaches to processes such as credit decisioning, loans collections and KYC.

The lab will also enable technology architectures such as API gateways and microservices.

Published on September 21, 2021

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