HCL Tech Share Price Rises After IT Major Expands Partnership With Google Cloud

Noida-based HCL Technologies' shares jumped on Thursday a day after the IT major announced the expansion of its strategic partnership with Google Cloud. HCL Tech shares jumped as much as 3.56 per cent to Rs 817.45 apiece on the BSE, having started the day strong at Rs 796.90 compared to its previous close of Rs 789.35. (Also Read: HCL Tech Raises September Quarter Revenue Outlook | Track HCL Technologies Share Price)

"Actian Avalanche is a high-performance hybrid cloud data warehouse designed to power an enterprise's most demanding operational analytics workloads," HCL Tech said in a regulatory filing after market hours on Wednesday. It enables a seamless path to migrate legacy data warehouses to Google Cloud, through a hybrid-cloud offering, leveraging Google Cloud's Anthos application platform. 

HCL Technologies said its Actian Avalanche hybrid cloud data warehouse "has been deployed by Fortune 500 customers to deliver powerful insights to manage business complexities for a variety of use cases, including fraud detection, real-time offers and market basket analysis".

"Bringing Actian Avalanche to Google Cloud enables enterprise customers to leverage the platform's
scalable, high-performance infrastructure and global network," HCL Tech said.

HCL Tech has a majority stake in California-based Actian. 

“The launch of Actian Avalanche on Google Cloud is another differentiated collaboration that strengthens our joint offerings built around application and platform modernisation, digital foundation and data value unlock,” said Kalyan Kumar, CTO and corporate vice president, HCL Technologies.

At 2:30 pm, HCL Technologies shares traded 0.38 per cent higher at Rs 170.80 apiece on the BSE, outperforming the benchmark S&P BSE Sensex index which was down 0.46 per cent.