15 Dec 2023

HCL Tech zooms on collaborating with Department of Transport and Planning in Victoria

HCL Technologies is currently trading at Rs. 1489.50, up by 75.95 points or 5.37% from its previous closing of Rs. 1413.55 on the BSE.

The scrip opened at Rs. 1416.10 and has touched a high and low of Rs. 1,491.10 and Rs. 1416.10 respectively. So far 432199 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,491.10 on 15-Dec-2023 and a 52 week low of Rs. 1011.60 on 20-Dec-2022.

Last one week high and low of the scrip stood at Rs. 1,491.10 and Rs. 1357.80 respectively. The current market cap of the company is Rs. 400536.97 crore.

The promoters holding in the company stood at 60.81%, while Institutions and Non-Institutions held 34.44% and 4.75% respectively.

HCL Technologies (HCLTech) has been selected by the Department of Transport and Planning in Victoria, Australia to automate the concession entitlement process for public transport users. More than 605 million trips are taken on Victoria’s public transport network annually and 35% of these are taken by concession card holders, including students, retirees, veterans and those with disabilities.

HCLTech will develop and support a Concessions Entitlement Validation Platform (CEVP) for the department, enabling instant proof of concession entitlement and a user-friendly passenger interface to apply for and manage concession entitlement. This will improve experiences for both passengers and the department staff. The linking of credit card with concession card, enabled by the CEVP, will be a nation-first. This feature will provide payment flexibility for concession card holders.

HCLTech will deploy digital workflow orchestration solutions and leverage agile development approaches to roll out the CEVP across Victoria. The company will also provide maintenance and customer center support as well as training for the Department of Transport and Planning employees.

HCL Technologies is a leading global IT services company that helps global enterprises reimagines and transforms their businesses through digital technology transformation.