Shares of HCL Technologies surged more than 4 percent on Friday, emerging as the top gainer on the Nifty 50 index after the company announced a major strategic deal worth $1.14 billion with a Europe-headquartered Fortune Global 50 client.
The agreement focuses on building and managing an artificial intelligence (AI)-driven operating model for the client’s digital workplace and enterprise network services.
In early trade, HCLTech stock rose as much as 4.5 percent to Rs 1,126.50. Despite this sharp intraday gain, the stock remains significantly lower on a year-to-date basis, down around 31.3 percent in 2026, underperforming the broader Nifty 50 index, which has fallen about 7 percent during the same period.
The company currently holds a market capitalisation of approximately Rs 3.05 lakh crore.
According to an exchange filing, HCL Technologies has entered into a strategic partnership with the unnamed global client to develop an AI-powered operating framework aimed at transforming and managing its global digital workplace systems and enterprise network infrastructure. The deal is described as a new business win for the company.
The contract will run from July 2026 to December 2031, with an option to extend it by an additional five years.
HCLTech has estimated the total value of the agreement during the initial term at $1.14 billion, making it a significant addition to its large-deal pipeline.
The announcement comes at a time when investors are closely monitoring major contract wins in the IT services sector as indicators of global technology spending trends.
In particular, demand for AI-led transformation projects is emerging as a key growth driver for Indian IT companies, which rely heavily on overseas clients for revenue.
Broader market sentiment was also positive on Friday. Around 9:18 am, the Sensex was up 411.02 points, or 0.53 percent, at 77,913.14, while the Nifty 50 rose 135.10 points, or 0.56 percent, to 24,310.80.
The Nifty IT index outperformed, gaining nearly 1.9 percent, while the India VIX declined 1.6 percent, indicating reduced market volatility and improved investor confidence.
