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HCL Technologies shares gain on Deutsche Bank contract

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Shares of HCL Technologies gained as much as 2.5 per cent on Tuesday after the IT major announced that it has signed an Application Development and Maintenance contract with Deutsche Bank.

Under the terms of agreement, HCL will provide digital solutions, systems integration, product implementation and design, build and test new applications in addition to the ongoing application maintenance and support services.
At 2.26 pm, HCL Technologies shares were trading 1.87 per cent up at Rs 854.25 apiece. The scrip opened at Rs 843 and had touched a high and low of Rs 859.50 and Rs 837, respectively, in trade so far. Sensex was up 0.59 per cent at 25,910.

In a BSE filing, the company said, “HCL will manage and enhance some of the existing application suites, including corporate banking and securities, global transaction banking, asset and wealth management, and risk, finance and back-office operations across Deutsche Bank group.”

The program is part of a broader strategic initiative by Deutsche Bank. HCL is an innovation partner for the company’s digital strategy which aims to enhance customer experience by bringing innovation to its products, services and operations.

Paul

The author Paul