This Large Cap IT Company Secures USD 278 Million Contract from GermanyâÂÂs Largest Cooperative Primary Bank; Promoters Bought 75,00,000 Shares This Month!
HCLTech, a prominent global technology company, has recently strengthened its partnership with Deutsche Apotheker- und ÃÂrztebank eG (apoBank), Germany’s largest cooperative primary bank. This strategic collaboration will enable apoBank to enhance its digital services and provide fast and secure banking solutions to its customers. The estimated total contract value of this deal is USD 278 million over a period of 7.5 years, showcasing the significant investment and commitment from both parties.
In addition to this partnership, HCLTech has also expanded its strategic alliance with Olympus Corporation, a leading global MedTech company. This collaboration aims to leverage cutting-edge engineering technologies to deliver advanced and affordable healthcare solutions to patients worldwide.
In terms of financial performance, HCLTech’s stock is currently trading at Rs 1442.15 per share, reflecting a gain of 0.86 per cent. The company’s market capitalization stands at Rs 3,91,351 crore, with a notable return of around 27 per cent in the past year. HCLTech recently announced an interim dividend of Rs 18 per share, further enhancing shareholder value.
According to the Quarterly Results, HCLTech recorded a revenue of Rs 28,499 crore in the fourth quarter of FY24, with an operating profit of Rs 6117 crore and a net profit of Rs 3995 crore. The company’s annual performance in FY24 showcased a revenue of Rs 109913 crore, compared to Rs 101456 crore in FY23, with an operating profit of Rs 24198 crore and a net profit of Rs 15710 crore.
In terms of shareholding pattern, the promoters hold 60.82 per cent of the company, while Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 19.65 per cent and 14.95 per cent, respectively. This indicates confidence from both domestic and international investors in the company’s growth potential.
DailyBubble recommends investors to keep an eye on HCLTech as a large-cap stock with strong fundamentals and growth prospects. It is essential for investors to conduct their research and due diligence before making any investment decisions.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as investment advice. Investors are advised to consult with financial professionals before making any investment decisions.