HCLTech shares in focus after expanding Salesforce partnership for agentic AI
HCLTech shares will be in focus on Friday after the company announced an expanded partnership with cloud major Salesforce to drive enterprise adoption of agentic artificial intelligence (AI) solutions.
ADVERTISEMENT In an exchange filing on Thursday, HCLTech said the partnership aims to accelerate the use of autonomous AI agents via Salesforce Agentforce across industries such as financial services, healthcare, retail, and manufacturing.
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Earlier this week, HCLTech also announced a strategic alliance with AMD to support enterprise digital transformation globally. Under the partnership, joint development centres will test advanced technologies and conduct proof-of-concept evaluations to speed up innovation in AI, digital, and cloud solutions.
Additionally, the IT firm recently entered into a long-term agreement with European energy major E.ON to support its product-based transformation using advanced cloud and AI technologies. As part of the deal, HCLTech will build a new private cloud and manage E.ON's global cloud and network infrastructure across major hyperscalers. The collaboration will leverage HCLTech's AI Force platform to scale automation and enhance cloud maturity.
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HCLTech also secured an engineering services contract with Swedish truck maker Volvo Group. The company will support Volvo's future engineering initiatives from its Automotive Centre of Excellence in Gothenburg, as well as from its global offshore and nearshore delivery centres.
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According to Trendlyne data, the average target price for HCLTech is Rs 1,670, suggesting 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 0.4% higher at Rs 1,723.7 on the BSE in Thursday's trade. While the stock has gained 19% over the past 12 months, it remains down 10% so far this year.
(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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