Category Archives: IT

HCL Tech tanks 7 per cent on promoters shares sale report

IT services provider HCL Technologies tanked 7 per cent on BSE in morning trade on Thursday amid a report that one of its promoters is likely to offload nearly 1.5 per cent stake in the open market.

Shares of HCL Technologies plunged 7 per cent to a low of Rs 347 a piece on the Bombay Stock Exchange (BSE). The scrip nosedived to Rs 353, down 5.28 per cent, on the National Stock Exchange.

According to the media report, promoter group firm HCL Corporation is eyeing to sell about 1 crore shares representing 1.5 per cent stake in HCL Tech, for an aggregate amount of Rs 360 crore.

As per the March quarter shareholding pattern available on BSE, HCL Corporation held 50.27 per cent stake in HCL Technologies.