Volvo Car Shares HCL Tech after Pay FIRM picks for final-to-engineering services

HCL Tech Shares will be focused on Friday after Swedish carmaker Volvo Caro selected Indian IT Major as one of its strategic suppliers for engineering services.

The deal extends the delivery of end-to-end engineering solutions on the scale of their current cooperation in Digital and Product Lifestyle Management (PLM).

HCL Tech will support the Volvo car’s engineering initiative by its automotive center Excel F. Excellence in Gothenberg, Sweden with its global SH Fashore and near delivery centers. The company said the partnership arranges with Volvo’s attention on sustainable development and innovation in future mobility.

“This reflects our commitment to deliver strategic connection, high performance, future-prepared engineering solutions,” said Pankaj Tagra, corporate vice president of HCLTech of Europe’s manufacturing and Allied Industries, which helps to shape tomorrow’s dynamics. He added that the deal strengthens HCLTech’s position as a strategic engineering partner for global automotive clients.

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The purpose of Volvo cars aims to deliver mobility that is personal, durable and safe, and the extended partnership with HCLTech is expected to support this vision.

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HCL Tech Share Price Exhibition and Outlook

According to Trendlin, the average target price for HCL Tech is Rs. 1,664, which indicates a possible loss of about 2% from the current levels. Of 44 analysts tracking the stock, most people have a ‘hold’ rating.

Technically, the relative strength index of the stock (RSI) is 62.4, which shows a neutral speed. MACD is at 19.9, located above both the center and the signal lines – a sign of the boom.

HCL Tech’s shares on BSE in the previous session were Rs 1.1%. Closed at 1,702, though the Sensex slipped 1%. The stock has increased 11% in the last three months but is down 12% in the last six months.

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