HCL Technologies crosses $50 billion in market-cap

The shares of HCL Tech crossed the 50 billion dollar mark on September 24. The stock registered a market capitalisation of Rs 3,68, 420 crore on BSE on Friday.

At close on September 24, the company’s shares traded at Rs 1,359.75 - up almost 7 percent in the last 5 days post the company’s announcement of a five-year deal with US-based MKS Instruments.

The partnership is intended to improve performance, productivity, and speed to market by driving digital and cloud-enabled transformation through AI/ML-led automation and enhanced user experience for MKS Instruments, which is, notably a global provider of instruments, systems, subsystems, and solutions for advanced manufacturing processes, said the company in an exchange filing.

Market-capitalisation refers to the current market price of the share multiplied by the total number of outstanding shares of the company in the market.

The company’s former CEO Vineet Nayar tweeted today that the company's market-capitalisation has crossed 50 billion dollars (Rs 36,90,53,50,000) thanked the employees and the management team for helming this extraordinary feat, with sights now set at 100 billion dollars.

@hcltech crossed $50 billion in market cap. What a fantastic achievement and a very proud moment for all #employees and the #leadershipteam who helped guide and mentor employees to reach this milestone. The next stop is $100 billion. Proud of you, very proud!

HCL has been on a continuous high, also reporting the highest shareholder returns (138 percent) amongst large-cap technology companies, as compared to 115 percent generated by the Nifty IT Index over the last year, per its annual report. 

The stock touched a 52-week high of Rs 1,377 on September 24, 2021, and a 52-week low of Rs 783.35 on September 24, 2020.