HCL Tech rises over 4%

HCL Tech is doing pretty well today. The stock price rose over 4% to Rs.1000.05. The stocks high and low stands at Rs.1106 and Rs.825.10 respectively.

The company announced yesterday after market hours that when the Board meets on 12th July, they will be considering buy back of equity shares.

The overall expectation in the market is that the company’s buyback would be similar to that announced last year – worth Rs.3500 crore and the buyback price could be at a premium of 10-15%. Last year, the buyback was at a premium of 17%.