HCLTech rises 4% as it expands Canada footprint with new Calgary office

HCL Technologies shares rose 3.8 per cent on BSE, logging an intra-day high at ₹1,656.55 per share. At 11:03 AM, HCLTech’s share price was up 3.83 per cent at ₹1,655.85 per share. In comparison, the BSE Sensex was up 0.22 per cent at 84,856.35.

 

The market capitalisation of the company stood at ₹4,49,111.57 crore. The 52-week high was at ₹2,011 per share, and the 52-week low was at ₹1,304.  

Why were HCLTech  shares in demand?

The stock soared after the company announced plans to expand its business in Canada by opening an office in Calgary, Alberta, following the signing of a memorandum of understanding with Invest Alberta to advance technology collaboration and innovation in the province.

 

 

According to the filing, the new facility is designed as a collaboration-first environment and will serve as a client co-innovation and delivery center. The space enables HCLTech to work closely with clients and ecosystem partners to drive innovation, inspire creativity, and deliver transformative technology solutions across industries. 

 

“HCLTech operates delivery and innovation centers in Mississauga, Moncton and Vancouver, supporting more than 50 major Canadian enterprises,” the filing read.   ALSO READ | LTIMindtree soars 54% from March low; stock hits 9-month high; here's why 

The company has also formed a strategic partnership with Invest Alberta to deepen its presence in the province and collaborate with local enterprises, educational institutions, and government stakeholders.

 

“The opening of our Calgary office marks an important step in expanding our presence in Western Canada and advancing the digital transformation journeys of our clients,” said Dave Chopra, executive vice president and Canada Country head, HCLTech. “As we deepen our collaboration with Invest Alberta and accelerate our focus on AI, cybersecurity and data, we see tremendous opportunity to co-innovate with the region’s growing technology community,” he added. 

 

HCLTech is a global technology company, delivering capabilities centered around AI, digital, engineering, cloud and software, powered by a broad portfolio of technology services and products. 

 

Invest Alberta engages the world and provides high-end tailored support to companies, investors, and major new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start up, scale up, and succeed without limits.