This tech company expands partnership with Google Cloud to boost innovation and adoption of generative AI!
The company has a ROCE of 28.7 per cent and a ROE of 23.3 per cent. Furthermore, it maintains a healthy dividend payout ratio of 65.5 per cent.
HCL Tech is a leading global IT services company, known for transformative outsourcing and a wide range of services including software solutions, infrastructure management and engineering. With a strong offshore presence and global network, it serves key industries worldwide.
HCLTech and Google Cloud have announced an expanded partnership to leverage generative artificial intelligence (AI) and develop joint solutions. HCLTech will utilise Google Cloud's generative AI technologies, including large language models (LLMs), to develop AI capabilities for clients. They will establish a Google Cloud Generative AI Center of Excellence (GenAI CoE) to unlock the value of data and realise the potential of generative AI.
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HCLSoftware, part of HCLTech, will adopt Google Workspace and deploy Vertex AI. The partnership aims to accelerate digital transformation and innovation across industries by training thousands of people on Google Cloud generative AI technologies.
The company has delivered impressive returns of 98 per cent over the last 3 years and 143 per cent over the last 5 years. Additionally, it has achieved a 15 per cent growth in sales (CAGR) and a 12 per cent growth in profit (CAGR) over the past 5 years. The company has a ROCE of 28.7 per cent and a ROE of 23.3 per cent. Furthermore, it maintains a healthy dividend payout ratio of 65.5 per cent.
On Thursday, shares of HCL technologies surged by 0.80 per cent and made an intraday high of Rs 1146.45.
Investors should keep a close eye on this trending stock.