HCL Technologies shares rose as much as 2.5% to touch an intraday high of ₹1,276 apiece on Friday, July 24, following the announcement of its expansion plans. According to market data, the stock was trading at ₹1,259.8 on the National Stock Exchange at 12:47 PM, gaining 1.21%. However, from the beginning of the year, the stock has declined 23%, though it has surged 13% over the past month and tumbled 27% in the past six months. The shares hit a 52-week high of ₹1,780.10 on February 3, 2026, and a 52-week low of ₹1,030 on July 1, 2026.
The Noida-headquartered IT firm signed a Memorandum of Understanding (MoU) with the Odisha government to establish a global technology centre in Bhubaneswar. As reported by the company, the centre will be dedicated to innovation and deliver AI-led digital solutions to global enterprises. The facility is expected to create jobs for 5,000 people and is expected to start operations by 2028. HCLTech stated that its investment is expected to contribute to both direct and indirect employment while strengthening the local talent ecosystem with a focus on next-generation skills. The technology center will complement HCLTech's proposed AI data center in the upcoming Odisha Sovereign AI Park.
According to the company, HCLTech employs over 170,000 people across its technology campuses and centres in India, including locations in Noida, Bengaluru, Chennai, Hyderabad, Pune, Lucknow, Nagpur, Madurai, Vijayawada and GIFT City. In Q1 FY27, the Indian market saw the most growth at 16.9%, followed by the rest of the world at 10.8% YoY. The technology centre will complement HCLTech's proposed AI data centre in the upcoming Odisha Sovereign AI Park.
In Q1 FY27, HCLTech posted a 20.32% year-on-year surge in consolidated net profit to ₹4,624 crore, compared with ₹3,843 crore in Q1 FY26. Sequentially, profit rose 3.03% quarter-on-quarter from ₹4,488 crore in the March quarter of FY26. The company's consolidated revenue from operations soared 13.94% YoY to ₹34,579 crore, as against ₹30,349 crore in the corresponding period of the previous fiscal year. In dollar terms, revenue jumped to $3,650 million YoY in constant currency terms for the reporting quarter, from $3,545 million in the year-ago period, though it declined 0.5% QoQ from $3,682 million in Q4 FY26.
According to Rahul Singh, COO—Corporate Functions at HCLTech, the company is focused on expanding its presence across India through its New Vistas initiative to bring opportunities closer to where the talent is. Singh noted that Odisha offers a great mix of quality infrastructure and vibrant talent pool, and the company looks forward to developing Bhubaneshwar as one of its key global innovation and delivery hubs. The company plans to engage closely with local educational institutions and the government through structured interventions to strengthen the local talent ecosystem with focus on next-generation skills.
