HCL Infosystems surges on FII buying

DALAL STREET SPIKES

HCL Infosystems was in limelight touching an all-time high of Rs 705 on aggressive fund-based buying.

According to market sources, a foreign institutional investor has bought into the counter at around Rs 690 levels in Friday's trading.

However, the number of shares bought could not be ascertained. The stock finally closed at Rs 695.95 with volumes accounting for 24.7 lakh shares at the BSE alone.

A dealer said, a sharp surge in HCL Info stock was purely due to aggressive buying on the counter from FIIs.

HCL Infosystems has been in action on sustained buying interest in the stock from market participants on expectations of an impressive growth in and a good current quarter results.

Analysts said, the company is going to benefit after the government gave away additional tax sops to the IT hardware and mobile phone sectors.