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HCL Technologies Mr. Jyoti Roy, DVP - Equity Strategist, Angel Broking Ltd

Posted On: 2020-09-18 01:46:01


"HCL Technologies Ltd. and Google Cloud have announced the expansion of their strategic partnership to bring HCL's Actian portfolio, starting with Actian Avalanche, to Google Cloud. Actian Avalanche is a high-performance hybrid cloud data warehouse and enables a seamless path to migrate legacy data warehouses, including IBM Netezza and Oracle Exadata, to Google Cloud, through a hybrid-cloud offering leveraging Google Cloud's Anthos application platform. This latest announcement from HCL and Google Cloud builds on the partnership between the two firms as HCL and Google Cloud had earlier announced the launch of HCL's Google Cloud Ecosystem to accelerate enterprise cloud adoption worldwide in 2019. We continue to maintain our positive outlook on HCL Tech as the announcement reflects the company's leadership position in the cloud migration space. We believe that HCL will be the biggest beneficiary of migration from public cloud to hybrid cloud driven by strong presence in the Infrastructure management business. We maintain our BUY rating on the stock with a revised target price of Rs. 945."

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.808 as compared to the previous close of Rs. 789.35. The total number of shares traded during the day was 526372 in over 11981 trades.

The stock hit an intraday high of Rs. 817.45 and intraday low of 789.35. The net turnover during the day was Rs. 425103454.


Source: Equity Bulls

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