Following HCL cyberattack, company shares fall


HCL Technologies, a leading IT giant, has revealed a ransomware attack affecting a specific project within its isolated cloud environment.

As investigations continue to uncover the origins of the HCL cyberattack, the company is committed to taking necessary corrective actions, as outlined in a regulatory filing.

HCL Cyberattack: What We Know So Far

In a statement acknowledging the HCL cyberattack, the company said: “This is to inform you that HCLTech has become aware of a ransomware incident in an isolated cloud environment for one of its projects. No impact has been observed due to this incident on the entire HCLTech network.

HCL Technologies reaffirmed that the protection of confidential data is of the utmost importance.

Follow HCL Cyber ​​attackthe company quickly launched a thorough investigation, working closely with affected parties to identify the underlying cause and implement the necessary corrective actions.

HCL cyber attack
Statement issued after HCL cyberattack

“Cybersecurity and data protection are a top priority for HCLTech. A detailed investigation is underway in consultation with relevant stakeholders to assess the root cause and take necessary corrective measures,” the HCL Tech statement said.

The HCL Cyber ​​attack came just days after HCL Tech became the 13th largest listed company in India after crossing the market capitalization threshold of Rs 4 trillion on the stock exchanges. Among large IT companies, Tata Consultancy Services has the largest capitalization, closely followed by Infosys.

HCL reported 8% year-on-year revenue growth in Q2FY24 while maintaining strong margins. Due to the significant acquisitions made during the quarter, higher profitability is also expected to be reported.

HCL Tech closed 16 significant transactions in the second quarter, totaling $3.969 billion in contract value. Six of them concerned the software sector and seven the services sector, reported the trading standard.

Subsequently, on December 14, HCL Tech said it had won a contract from the Australian Department of Transport and Planning Victoria. For those who use public transport, the procedure for obtaining a concession will be automated.

At 10:15 am on Wednesday, shares of HCL Tech were up 0.36 per cent at Rs 1,493.5 per share on the BSE. However, HCL’s cyber attack led to a massive fall in the company’s shares.

HCL cyber attack

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