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Last Updated : Sep 17, 2020 10:48 AM IST | Source: Moneycontrol.com

HCL Tech shares climb 4% as firm expands partnership with Google Cloud

"This latest announcement from HCL and Google Cloud expands a deep and growing partnership between the two companies to help organizations digitally transform," HCL said.

 
 
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Shares of HCL Technologies climbed almost 4 percent in morning trade on BSE on September 17, a day after the company announced the expansion of its partnership with Google Cloud.

In a media release on September 16, HCL Technologies and Google Cloud announced the expansion of 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," the company informed.

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"This latest announcement from HCL and Google Cloud expands a deep and growing partnership between the two companies to help organizations digitally transform," HCL said.

In 2019, HCL and Google Cloud announced the launch of HCL’s Google Cloud Ecosystem to accelerate enterprise cloud adoption worldwide.

Jyoti Roy - DVP- Equity Strategist, Angel Broking is positive on HCL Tech for a long term perspective.

Roy highlighted that HCL Technologies posted a better than expected set of numbers for Q1FY21 as revenues were in line with street estimates though margins and profits came in above estimates due to cost control by the company.

Management commentary was also strong as they highlighted that the deal pipeline has improved significantly since March led by cloud-related services.

"Management guidance of 1.5-2.5 percent QoQ growth in revenue in constant currency terms for the rest of the year provides comfort. At the current price, the stock is trading at a significant discount to the other large-cap IT companies like Infosys and TCS and offers value at the current levels given market leader status in Infrastructure management," Roy said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Sep 17, 2020 10:48 am
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