HCLTech's 0.46% stake likely to be sold for Rs 1,757 cr via block deal on Friday: CNBC-TV18
HCLTech's 0.46% stake likely to be sold for Rs 1,757 cr via block deal on Friday: CNBC-TV18
IT major HCL Technologies' (HCLTech) 0.46 percent equity stake is likely to be sold through block deal for Rs 1,757 crore on June 28, sources told CNBC-TV18 on June 27.
Floor price for the block deal is likely to be Rs 1,414.9 per share, which implies discount of 2.75 percent to current market price.
On June 27, HCLTech's shares on NSE closed 0.8 percent higher at Rs 1,455 apiece.
An undisclosed seller will sell 1.24 crore shares through the block deal, reported CNBC-Awaaz citing sources.
Citi Group will be the broker for the deal, the channel reported.
HCLTech reported net profit of Rs 3,986 crore in Q4FY24 as against Rs 3,983 crore in the year-ago period. The IT firm had declared Rs 18 dividend.
Net profit for the quarter was up 0.1 percent YoY, and declined by 8.4 percent sequentially.
The company posted a 7.1 percent increase in revenue at Rs 28,499 crore in Q4FY24 as compared to Rs 26,606 crore in the year-ago period.