HCL Tech Wins Contract From Australian Energy Giant Synergy; Stock Gains

HCL Technologies Ltd. rose as much as 1.5 percent to Rs 794.65 after it won an information technology contract to provide application management services for Western Australia’s leading energy provider, Synergy.

85 applications will be transitioned, consolidated and optimised to deliver ongoing support for energy and utilities applications in a flexible “as a service” model, HCL Technologies said in a press release.

The Indian IT services company will also partner with Ignia, the technology consulting and managed services unit of U.S. based Insight Enterprises, Inc., to provide digital services.

“This contract is testament to HCL’s ability to provide services which can enhance operational efficiency, control costs and provide a digital platform that will form a stable engine for Synergy moving forward in the new competitive environment,” Michael Horton, HCL Technologies’ senior vice president and country manager for Australia and New Zealand, said in the press release.

Synergy is Western Australia’s largest electricity generator and retailer of gas and electricity with more than one million residential, business and industry customers.