HCL Technologies shares rally 6% after bagging $1.14-bn AI contract; lead Sensex gainers list
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Shares of HCL Technologies rallied nearly 6% on Friday, outperforming an otherwise lacklustre broader market, after the IT services major announced a $1.14-billion strategic partnership with a Europe-headquartered Fortune Global 50 company. The deal involves building an AI-driven operating model to transform and manage the client's global digital workplace and enterprise networks.
Buoyed by the announcement, HCLTech shares gained as much as 7.58% to hit an intraday high of ₹1,159.25 on the BSE. The IT heavyweight finally settled at ₹1,139.85, up 5.79%, emerging as the top gainer on the Sensex. The company's market capitalisation stood at ₹3.09 lakh crore at the close.
Meanwhile, the BSE Sensex rose 0.34%, or 262.79 points, to settle at 77,763.91, while the Nifty50 gained 0.39%, or 95.15 points, to close at 24,270.85. Apart from HCLTech, the other top gainers in the Sensex pack were Bajaj Finserv, Tech Mahindra , Bharti Airtel, Sun Pharma and UltraTech Cement .
The stock has risen nearly 10% over the past two sessions, after ending 4.12% higher in the previous session. On Wednesday, HCLTech shares had touched their 52-week low of ₹1,030 before closing 3.5% lower.
At the current level, HCLTech shares are down 35.6% from its 52-week high of ₹1,770, touched on February 3, 2026. HCLTech shares have declined more than 30% so far in calendar year 2026, lost over 3% in the past month. In the last 12 months, the counter has corrected 33%.
In a regulatory filing, HCLTech said it has signed a "significant strategic partnership" with a Europe-headquartered multinational to establish an AI-driven operating model aimed at transforming and managing its global digital workplace and enterprise network infrastructure. However, the Noida-based company did not disclose the identity of the customer, stating only that it is a Europe-headquartered Fortune Global 50 firm.
"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.
The initial term of the agreement will run from July 2026 to December 2031, with an option to extend it by a further five years.
"The estimated value of the agreement during the initial term is $1.14 billion," the company added.
HCLTech also highlighted that the contract represents "entirely net new business." The engagement will focus on deploying artificial intelligence across the client's digital workplace and enterprise networking operations.
The announcement comes at a time when AI-led transformation projects are emerging as a key growth driver for IT services companies, as enterprises increasingly invest in modernising technology infrastructure and automating business processes.
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