HCL Technologies shares in Friday's trade (June 28) fell nearly 1 per cent to day's low price of Rs 1,445.45 as in the pre-opening block deal window 1.24 crore shares of the tech giant changed hands in multiple transactions. The details of the buyers or sellers could be immediately ascertained.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

As per media reports the deal has been executed at a price of Rs 1,440.5 per share, a discount of nearly 1 per cent to the previous close.

The media reports earlier stated that a Rs 1,757 crore block deal was expected in the counter today at a floor price of Rs 1,414.9, implying a discount of around 3 per cent to the previous close. The deal was expected to involve 0.46 pe cent equity or 1.24 crore equity shares. 

The comoany expanded its strategic partnership with Olympus Corporation (Olympus), a global MedTech company to enable advanced and affordable healthcare for patients through cutting-edge engineering technologies.

Earlier this week, Macquarie upgraded its rating on HCL Tech stock to 'outperform' with a raised target of Rs 1,800,  signifying a potential upside of about 24 percent from the last closing price. The brokerage has accorded the stock a 'marquee buy' status given the expectations of improve margins for 
 FY26 and FY27 as the key reason.

HCL Tech shares in the past one year have gained over 24 per cent against Nifty IT's return of around 26 per cent during the same time.