HCLTech jumps over 6% on $1.14 billion AI deal; Nifty IT extends rally
HCLTech’s $1.14 billion AI partnership and Jaspersoft buy spark sharp stock surge, powering Nifty IT’s extended rebound
HCL Technologies shares surged more than 6% on Friday after the IT services company announced a $1.14 billion strategic deal with a Europe-headquartered Fortune Global 50 company and completed the acquisition of Jaspersoft, lifting sentiment across the technology sector. The stock rose as much as 6.5% during the session to ₹1,148.50, making it one of the top gainers on the Nifty 50.
“HCLTech is pleased to announce the signing of a significant strategic partnership with a Europe headquartered, Fortune Global 50 Firm to establish an AI driven operating model to transform and manage their Global Digital Workplace and Enterprise Networks,” the company said in the filing.
The rally came after HCLTech informed exchanges that it had signed a strategic partnership to establish an AI-driven operating model to transform and manage the client’s global digital workplace and enterprise networks. The agreement will run from July 2026 to December 2031, with an option to extend it by another five years. HCLTech said the initial contract is valued at an estimated $1.14 billion and is “entirely a net new business” for the company.
Separately, HCLTech also informed the exchanges that it has completed the acquisition of Jaspersoft, a business unit of Cloud Software Group, with the transaction taking effect from July 1. The acquisition follows the company’s announcement made in December 2025.
Nifty IT gains
The gains in HCLTech also helped lift the broader IT pack, with the Nifty IT index climbing about 2.5% to 27,653.90, extending its rebound after recent losses. HCLTech led the advance with a gain of over 6%, followed by Persistent Systems (3.5%), Tech Mahindra (3.5%), Coforge (3.2%), Mphasis (3.1%), LTIMindtree (2.6%), Tata Consultancy Services (2%), Infosys (1.2%) and Wipro (1.1%).
The rally in IT stocks was also supported by improving global sentiment after softer-than-expected U.S. jobs data reduced concerns over a near-term interest rate hike by the U.S. Federal Reserve. Lower rate expectations are generally viewed as positive for Indian IT companies, which derive a significant portion of their revenue from North America, as they can support enterprise technology spending and improve risk appetite for the sector.
Meanwhile, Nifty 50 gained 188.95 points or 0.78% to 24,364.65, and Sensex rose to 78,071.89, up by 0.74% or 569.77 points.
