HCL Technologies loses nearly 2% in wake of block deal

HCL Technologies was trading down by nearly 2% during the early morning hours of Friday’s trade after a block deal. The stock witnessed a spurt in volume by more than 43.21 times with 25 lakh shares traded in a block on the BSE at Rs 864.40 per share. 
 
A block deal is a trade with a minimum quantity of 5 lakh shares or minimum value of Rs 5 crore, executed through a single transaction, on the special block deal window. HCL Technologies was trading at Rs 868.45, down by Rs 15 or 1.70% as at 1106 hours on Friday, on the BSE. The stock attracted a traded volume of 6,02,760 shares and traded value of Rs 5,282.77 lakhs on the NSE.
 
Stock View:
HCL Technologies Ltd is currently trading at Rs 870.5, down by Rs 12.95 or 1.47% from its previous closing of Rs 883.45 on the BSE. The scrip opened at Rs 880 and has touched a high and low of Rs 888.8 and Rs 860 respectively. So far, 32,26,453(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1,22,975.17 crore.
 
The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 926 on July 27, 2017 and a 52-week low of Rs 731.05 on November 15, 2016. The last one-week high and low of the scrip stood at Rs 900 and Rs 871.55 respectively. The promoters’ holding in the company stood at 59.88 % while institutions and non-institutions held 36.11% and 4.02% respectively.
 
The stock is currently trading above its 50 DMA.