HCL Technologies has dipped nearly 2% at Rs 1,454, extending its 6% fall in past two trading days on the BSE, erasing its entire gain recorded after the promoter denied stake sale plan.
Shares of the country’s fourth largest information technology Services Company has declined 8.5% from its record high of Rs 1,589 touched during intra-day trade on February 28. The company has lost about Rs 8,550 crore market capitalization during the period.
Between February 20 and February 28, in five trading sessions, the stock has appreciated by 7.9% from Rs 1,473 after Shiv Nadar-led HCL Corporation, the firm that controls HCL Technologies and former PC maker HCL Infosystems, said there are no plans to sell its IT services firm.
The company has also denied reports of HCL founder Mr. Nadar seeking potential buyers for the country’s fourth largest software services exporter, HCL Technologies.
“HCL Corporation denies any plans to exit HCL Technologies,” it said in a statement.
Meanwhile, in past three month, the stock has outperformed the market by gaining 30% against 2.4% rise in S&P BSE Sensex and 2.2% gain in CNX Nifty.
Shares of the country’s fourth largest information technology Services Company has declined 8.5% from its record high of Rs 1,589 touched during intra-day trade on February 28. The company has lost about Rs 8,550 crore market capitalization during the period.
Between February 20 and February 28, in five trading sessions, the stock has appreciated by 7.9% from Rs 1,473 after Shiv Nadar-led HCL Corporation, the firm that controls HCL Technologies and former PC maker HCL Infosystems, said there are no plans to sell its IT services firm.
The company has also denied reports of HCL founder Mr. Nadar seeking potential buyers for the country’s fourth largest software services exporter, HCL Technologies.
“HCL Corporation denies any plans to exit HCL Technologies,” it said in a statement.
Meanwhile, in past three month, the stock has outperformed the market by gaining 30% against 2.4% rise in S&P BSE Sensex and 2.2% gain in CNX Nifty.
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