Ransomware attack targets HCLTech; IT major says inquiry is ongoing
On Wednesday, IT giant HCL Technologies announced that a ransomware assault had affected one of its projects in a remote cloud environment, and an investigation was in progress to determine what caused it. The company stated that it would take corrective action as needed in a regulatory filing.
This is to let you know that one of HCLTech's projects has an isolated cloud environment, and the company has learned of a ransomware incident there. The entire HCLTech network has not been impacted by this event, according to the business.
"Data security and protection are HCLTech's key priorities. To determine the underlying reason and take appropriate corrective action, a thorough investigation is now underway in collaboration with pertinent parties."
This occurred just a few days after HCL Tech became the 13th largest listed business in India after crossing the Rs 4 trillion market capitalization threshold on the stock exchanges. Tata Consultancy Services has the biggest m-cap among major IT companies, with Infosys following closely behind.
HCL reported modest year-over-year revenue growth of 8% in Q2FY24 while maintaining solid margins. Because of the significant acquisitions made during the quarter, higher profitability is also anticipated to be reported. HCL Tech closed 16 large deals in the second quarter, totaling $3.969 billion in contract values. Six of these were in the software space and seven were in the services sector.
Afterward, on December 14, HCL Tech declared that it had won a contract from Victoria, Australia's Department of Transport and Planning. For those who utilize public transportation, it will automate the concession entitlement procedure.
At 10:15 a.m. on Wednesday, HCL Tech's shares were up 0.36 percent at Rs 1,493.5 a share on the BSE.
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