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    HCLTECH   INE860A01027

HCL TECHNOLOGIES LIMITED

(HCLTECH)
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Delayed NSE India Stock Exchange  -  07:25 2022-08-12 am EDT
956.40 INR   -0.62%
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HCL Technologies Expands Global Partnership with Avaloq to Accelerate Innovation in Digital Wealth Management

04/13/2022 | 06:56am EDT

HCL Technologies (HCL), a leading global technology company, has expanded its global partnership with Avaloq, a leading provider of digital banking solutions. HCL will now develop a world-class lifecycle management center for Avaloq clients and invest in ongoing training and development for HCL teams working with Avaloq products. These investments will combine HCL’s deep domain knowledge in financial services with Avaloq’s expertise in digital wealth management technology, to accelerate innovation across the industry.

The new lifecycle management center will harness HCL’s digital transformation execution framework (FENIX 2.0) and next-generation AI and automation (DRYiCE™) products to drive efficiency. HCL is upskilling its wealth management teams globally by enrolling them in specialized training from the Avaloq Academy and building program-specific competencies. Alongside HCL’s wealth and asset management solutions, this expanded partnership will enable more financial institutions to leverage Avaloq’s innovative technology and services on their digitalization journey.

“As Avaloq continues its international expansion, we are aiming to provide more flexibility to our implementation capabilities, supporting our long-term growth,” said Martin Greweldinger, Co-Chief Executive Officer, Avaloq. “Therefore, we are delighted to expand our existing partnership with HCL to leverage its strong global presence and its domain knowledge in financial services to provide banks and wealth managers with access to our products and services in many different regions across the world.”

“We are observing a huge increase in demand for digital wealth and asset management capabilities globally,” said Rahul Singh, President of Financial Services and Digital Process Operations, HCL Technologies. “This trend is being driven by the continued emergence of new asset classes such as cryptocurrency, which is only set to continue in the future. HCL’s customer experience-focused approach enables us to work with clients across the world to drive innovation and ensure they remain at the forefront of these changes. We are delighted to expand our partnership with Avaloq as it is a leading provider of wealth management technology and services.”


© Business Wire 2022
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Financials
Sales 2023 983 B 12 352 M 12 352 M
Net income 2023 140 B 1 762 M 1 762 M
Net cash 2023 174 B 2 186 M 2 186 M
P/E ratio 2023 18,6x
Yield 2023 4,31%
Capitalization 2 605 B 32 734 M 32 734 M
EV / Sales 2023 2,47x
EV / Sales 2024 2,22x
Nbr of Employees 210 966
Free-Float 38,7%
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Mean consensus OUTPERFORM
Number of Analysts 43
Last Close Price 962,35 INR
Average target price 1 094,33 INR
Spread / Average Target 13,7%
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Managers and Directors
C. Vijayakumar President, Chief Executive Officer & MD
Prateek Solek Aggarwal Chief Financial Officer
Roshni Nadar Malhotra Chairman
Hanumantha Rao Gade President-Engineering, R&D Services
Kalyan Kumar B. Chief Technology Officer & Corporate VP
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