HCL Technologies has moved higher by over 2% at Rs 1,180, also its new high on the Bombay Stock Exchange (BSE).
The stock of the country's fourth-largest software services provider has outperformed the market by surging 11% in past two weeks compared to 3.3% rise in benchmark S&P BSE Sensex and 4% gain in IT sector index.
HCL Technologies is one of the best performing stocks from the benchmark indices, rallied 86% so far in the current calendar year 2013. The BSE S&P BSE Sensex and IT index has gained 53% and 9% during the same period.
The foreign institutional investors (FIIs) continuously raised their stake in HCL Technologies in past two years. FIIs have hiked their stake in the company to an all-time high of 26.01% in the July-September quarter from 21.8% at the beginning of the 2013. The overseas investors held 18.85% stake at the end of December 2011 quarter.
Meanwhile, The Reserve Bank of India in October allowed HCL Technologies to raise the purchasing limit of shares by FIIs to 49% from 30%.
The stock of the country's fourth-largest software services provider has outperformed the market by surging 11% in past two weeks compared to 3.3% rise in benchmark S&P BSE Sensex and 4% gain in IT sector index.
HCL Technologies is one of the best performing stocks from the benchmark indices, rallied 86% so far in the current calendar year 2013. The BSE S&P BSE Sensex and IT index has gained 53% and 9% during the same period.
The foreign institutional investors (FIIs) continuously raised their stake in HCL Technologies in past two years. FIIs have hiked their stake in the company to an all-time high of 26.01% in the July-September quarter from 21.8% at the beginning of the 2013. The overseas investors held 18.85% stake at the end of December 2011 quarter.
Meanwhile, The Reserve Bank of India in October allowed HCL Technologies to raise the purchasing limit of shares by FIIs to 49% from 30%.
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