HCL Tech shares in focus after partnership with US energy firm Just Energy
Shares of HCL Technologies will be in focus on Friday after the IT major announced a partnership with US-based energy supply company Just Energy to enhance the latter's operations and customer experience.
ADVERTISEMENT Under the agreement, HCLTech will deliver digital process outsourcing solutions powered by its generative AI platform to streamline functions across IT, finance, analytics, customer care, sales, and renewals, the company said in a statement.
This marks HCLTech's second major deal in the energy sector this week. On Monday, the Noida-based software exporter announced a collaboration with European energy giant E.ON to provide cloud and network management services.
'By combining our expertise in GenAI and digital process outsourcing, HCLTech will contribute significantly to Just Energy's innovation strategy and customer satisfaction,' said Ajay Bahl, Chief Growth Officer – Americas, Manufacturing and Allied Industries at HCLTech.The company will also deploy its business process optimisation tools and a role-specific, single-user interface platform to improve workforce collaboration and operational workflows at Just Energy.'We are confident that HCLTech's proven expertise and commitment to service excellence will help us achieve our key business objectives related to operational efficiency and service improvements,' said Scott Fordham, Chief Operating Officer at Just Energy.
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Also Read: 8 debt-free penny stocks that surged 110-300% in the last 1 year. Do you own any?
According to Trendlyne data, the average target price for HCLTech is Rs 1,668, indicating a potential downside of around 3% from current levels. Among the 44 analysts tracking the stock, the consensus rating is 'Hold'.
ADVERTISEMENT HCLTech shares closed marginally lower by 0.1% at Rs 1,713.90 on the BSE in Thursday's trade. While the stock has gained 11% over the past three months, it remains down over 10% year-to-date.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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