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This is an archive article published on June 24, 2010
HCL Tech ends down 4 pct
The HCL Technologies counter shed 3.90 per cent to settle at Rs 358.85 on the BSE.
Recovering partially from early heavy losses,HCL Technologies closed nearly 4 per cent down after its promoters HCL Corporation sold 2.5 per cent stake for an estimated Rs 580 crore.
The HCL Technologies counter shed 3.90 per cent to settle at Rs 358.85 on the Bombay Stock Exchange. During the day,the scrip plunged 7.07 per cent to low of Rs 347. On the National Stock Exchange,it fare better and closed 2.09 per cent lower at Rs 364.95.
On the volume front,a total of 3.73 lakh HCL Tech shares changed hands on both the bourses,thereby becoming one of the top volume grossers.
8220;HCL Corporation has sold 16.75 million of shares of HCL Technologies. The sale proceeds will be donated to the Shiv Nadar Foundation to be used for philanthropic initiatives,8221; HCL Corp said in a statement.
As per the March quarter shareholding pattern available on the BSE,HCL Corp held 50.27 per cent stake in HCL Tech.
HCL Corporation,headed by Shiv Nadar8217;s daughter Roshni,holds 50.27 per cent stake in HCL Tech.
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