HCL Tech gains on bagging 5-yr deal from CEMEX

HCL Technologies rose 1.24% to Rs 1220.20 after the company said it bagged a five-year digital transformation deal from Mexico-based construction materials company, CEMEX.

CEMEX is a global construction materials company. It offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce, enabled by digital technologies.

HCL Technologies signed a five-year agreement with CEMEX to deliver the next generation of employee services enabled by digital transformation, increased automation and near real-time analytics as part of the CEMEX "Working Smarter Program."

This multi-year managed services agreement comes as HCL has made a strategic commitment to expand its services and customer base across Mexico. HCL recently appointed Pablo Gallegos as its Mexico country head to lead HCL's strategy in the region.

As part of the deal, HCL will focus on global end-to-end transformation of IT lifecycle management, including IT managed services, digital transformation, infrastructure and application services, and end-user support. HCL will leverage hybrid cloud platforms and focus on unification and convergence of skills across traditional infrastructure, cloud, applications and digital using agile practices in a unique capacity-based flexible model to support higher cloud adoption and end-to-end modernization for CEMEX.

HCL will also collaborate with NEORIS, a CEMEX subsidiary, to create superior customer experience and achieve sustainable resiliency in CEMEX's supply chain.

On a consolidated basis, HCL Technologies reported 1.7% rise in net profit to Rs 3,259 crore on a 2.9% increase in revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22.

HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).

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