HCL Technologies is trading higher by 3% at Rs 1,092, extending its Friday’s nearly 4% rally, in otherwise weak market after Foreign Investment Promotion Board (FIPB) cleared proposal increase foreign institutional investors (FII) investment limit in the company.
The stock opened at Rs 1,060 and touched a new high of Rs 1,093 on NSE. A combined 244,180 shares change hands on the counter till early morning deals on NSE and BSE.
FIPB, headed by Economic Affairs Secretary Arvind Mayaram, cleared HCL Technologies, the country’s fourth largest software services exporter’s proposal to hike Foreign Direct Investment (FDI) limit in the company to 74% from 49%.
Meanwhile, since August 21, the stock has rallied 24% from Rs 884 as compared to 12.5% rise in benchmark CNX Nifty.
The stock opened at Rs 1,060 and touched a new high of Rs 1,093 on NSE. A combined 244,180 shares change hands on the counter till early morning deals on NSE and BSE.
FIPB, headed by Economic Affairs Secretary Arvind Mayaram, cleared HCL Technologies, the country’s fourth largest software services exporter’s proposal to hike Foreign Direct Investment (FDI) limit in the company to 74% from 49%.
Meanwhile, since August 21, the stock has rallied 24% from Rs 884 as compared to 12.5% rise in benchmark CNX Nifty.
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