HCL Tech shares in focus after Volvo Cars picks firm for end-to-end engineering services
shares will be in focus on Friday after Swedish carmaker
Volvo Cars
selected the Indian IT major as one of its strategic suppliers for
engineering services
.
The deal expands their existing collaboration in digital and product lifecycle management (PLM) to include the delivery of end-to-end engineering solutions at scale.
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HCL Tech will support Volvo Cars' engineering initiatives through its automotive Centre of Excellence in Gothenburg, Sweden, along with its global offshore and nearshore delivery centres. The company said the partnership aligns with Volvo's focus on sustainable growth and innovation in future mobility.
'This strategic engagement reflects our commitment to delivering high-performance, future-ready engineering solutions that help shape the mobility of tomorrow,' said Pankaj Tagra, Corporate Vice President at HCLTech for Manufacturing and Allied Industries in Europe. He added that the deal further strengthens HCLTech's position as a strategic engineering partner for global automotive clients.
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Volvo Cars aims to deliver mobility that is personal, sustainable, and safe, and the expanded partnership with HCLTech is expected to support this vision.
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HCL Tech share price performance and outlook
According to Trendlyne, the average target price for HCL Tech is Rs 1,664, suggesting a potential downside of about 2% from current levels. Among 44 analysts tracking the stock, the majority have a 'Hold' rating.
Technically, the stock's Relative Strength Index (
RSI
) stands at 62.4, indicating neutral momentum. The MACD is at 19.9, positioned above both the centre and signal lines — a bullish signal.
HCL Tech shares closed 1.1% lower at Rs 1,702 on the BSE in the previous session, even as the Sensex slipped 1%. The stock has gained 11% in the past three months but remains down 12% over the last six months.
(
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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