The company intends to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility in Karnataka, also known as a chip packaging unit. As a result, the shares of this large-cap company increased by up to 1 percent.
With a market capitalization of Rs 3,63,712.53 Crores. HCL Technologies Ltd, On Thursday, The shares closed at Rs 1,340.30 a share, an increase of 0.50 percent from the previous closing price.
HCL Technologies Ltd intends to build an OSAT (outsourced semiconductor assembly and testing) facility in Karnataka, also referred to as a chip packaging unit, according to the Economic Times. HCLTech is in active talks with the state government, which has offered land near the international airport in Bengaluru as well as in Mysuru. The facility will be “small-to-medium sized” with an estimated investment of about $400 million.
HCL will join the ranks of companies that have recently entered the chip OSAT and ATMP space, including Micron, Tata Group, Murugappa Group, and Kaynes Technology, if the discussions are successful.
The services division of HCL Technology Ltd. saw an exceptional growth of 15.8% YoY, supported by a strong margin performance. The company’s overall revenues increased 13.7% YoY in constant currency. Revenues for the business surpassed the Rs 100,000 crore mark.
Looking into the company’s performance, HCL Technology Ltd.’s revenue increased by 13 percent from Rs 23,464 Crore in Q2FY23 to Rs 26,672 Crore in Q2FY24. During the same period, net profits increased by 10 percent from Rs 3,487 crore to Rs 3,833 Crore.
With a 90 percent increase in clients and 57 new, substantial deals signed, HCL Technologies Ltd. now has 100 million dollar net worth clients.
HCL Tech provides an integrated portfolio of services, including software-led IT solutions, remote infrastructure management, engineering and R&D services, and business process outsourcing (BPO), with a focus on transformational outsourcing.
Written by:- Abhishek Singh
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