IT stock jumps after collaborating with ChargePoint for EV charging software

During Thursday’s trading session, the shares of a leading global information technology (IT) services company surged nearly 1.4 percent on BSE, after the company announced a collaboration with ChargePoint to accelerate EV charging software.

Stock Performance

With a market cap of Rs. 4.66 lakh crores, at 01:43 p.m., the shares of HCL Technologies Limited were trading in the green at Rs. 1,717.8, up by nearly 0.3 percent, as against its previous closing price of Rs. 1,712.8.

The stock delivered positive returns of nearly 6 percent in one year, but around 12 percent of returns in the last one month.

What’s the news

As per the latest regulatory filings with the stock exchanges, HCL Technologies Limited (HCL Tech) announced a collaboration with ChargePoint, a leading provider of networked charging solutions for electric vehicles (EVs), aimed at driving innovation in EV charging software.

As part of this collaboration, HCL Tech has established an advanced research and development centre for ChargePoint in Bengaluru, India. The centre is officially inaugurated today by executives from both companies and will serve as the primary hub for ChargePoint’s software development efforts in India.

With HCLTech’s engineering expertise and an agile, product-focused operating model, the centre will help ChargePoint deliver scalable, customizable EV charging solutions to meet growing demand.

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About the Partner Entity

ChargePoint, a leader in EV charging solutions since 2007, is dedicated to simplifying the transition to electric mobility for businesses and drivers. 

Boasting one of the largest EV charging networks in the world, ChargePoint offers a comprehensive suite of charging solutions, including a cloud subscription platform and software-driven charging hardware. 

These offerings cater to a wide range of charging needs—from residential to commercial applications such as workplaces, parking, hospitality, retail, and fleet operations. 

ChargePoint’s platform currently provides users with access to hundreds of thousands of charging stations across North America and Europe.

ChargePoint has secured the spot as the market leader in the U.S. EV charging network with a 32 percent market share and more than 70,000 ports nationwide, surpassing Tesla and other major players.

Financials

HCL Technologies reported a marginal growth in revenue from operations, experiencing a year-on-year rise of nearly 5 percent, increasing from Rs. 28,446 crores in Q3 FY24 to Rs. 29,890 crores in Q3 FY25.

Similarly, during the same period, the company’s net profit increased from Rs. 4,351 crores to Rs. 4,594 crores, representing a growth of around 5.6 percent YoY.

About the company

HCL Technologies Limited, a leading global IT services company, is engaged in the business of providing an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO.

Written by Shivani Singh

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