This Large Cap IT Company Secures USD 278 Million Contract from Germany’s Largest Cooperative Primary Bank; Promoters Bought 75,00,000 Shares This Month!

LIC-Backed IT Company; FIIs Increased Stake; Company's Largest Promoter Bought 75 Lakh Shares in June 2024.

HCLTech, a leading global technology company, announced today that Deutsche Apotheker- und Ärztebank eG (apoBank), Germany’s largest cooperative primary bank, has expanded its strategic partnership with HCLTech. HCLTech will accompany apoBank with an outcome-oriented managed services model that delivers resilient, scalable, high-quality, and compliant Digital Foundation services, enabling apoBank to deliver fast and secure banking services to its customers.

HCL Tech a Large-Cap leading IT company has announced that the estimated total contract value of the deal is USD 278 million over a duration of 7.5 years.

Furthermore, HCLTech and Olympus Corporation (Olympus), a global MedTech company, have expanded their strategic partnership to enable advanced and affordable healthcare for patients through cutting-edge engineering technologies.

Currently, the stock is at Rs 1442.15 per share representing a gain of 0.86 per cent. The current market capitalization of the company stands at Rs 3,91,351 crore, and the stock has generated an impressive return of around 27 per cent in 1 year. Earlier the company announced an Interim dividend of Rs 18 per share.

As per the Quarterly Results, in the fourth quarter of FY24, the company recorded a revenue of Rs 28,499 crore. The operating profit for Q4 FY24 stood at Rs 6117 crore, resulting an operating profit margin of 21 per cent. The net profit for Q4 FY24 was Rs 3995 crore. Looking at the annual performance, the company generated a revenue of Rs 109913 crore in FY24, compared to Rs 101456 crore in FY23. The operating profit for FY24 was Rs 24198 crore, with a net profit of Rs 15710 crore.

Regarding the shareholding pattern, the promoters own 60.82 per cent of the company, while FIIs and DIIs hold 19.65 per cent and 14.95 per cent, respectively.

Investors must keep this large-cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.