HCLTech shares hit a day high of Rs 1,145.80 on NSE on Friday, 3 July, after it signed a $1.14 billion tech deal with a European client.

The stock opened sharply higher and held its gains through the morning. The rally came after HCLTech said it had signed a multi-year contract to help a large European company run its digital workplace and internal networks using AI.

The client is a Fortune Global 50 company based in Europe, though HCLTech has not named it.

Under the deal, HCLTech will build and manage an AI-driven system covering everything from employee laptops and software to the client’s wider office and enterprise networks.

The company said this is entirely new business, not an extension of any earlier work.

The contract runs for five and a half years, from July 2026 to December 2031, with an option to extend it by another five years. That works out to roughly $230 million in revenue for HCLTech every year from this one client.

This is HCLTech’s biggest deal in about three years. Its last contract of a similar size came in August 2023, a $2.1 billion managed services agreement with US telecom firm Verizon.

The company has stayed active on other fronts too. Last month, it picked up a 10.46% stake in Bengaluru based AI startup Sarvam AI for around Rs 1,427 crore.

By 11:19 am on Friday, HCLTech shares were trading at Rs 1,141.10 on the NSE, up 5.84% from the previous close of Rs 1,078.10.

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