Shares of HCL Technologies fell over one per cent today following the company’s Vice-Chairman and CEO, Mr Vineet Nayar, selling off his stake in the firm.
Defying a strong broader market, the scrip fell 1.41 per cent to Rs 488 after a positive start on the BSE. On the NSE, the scrip lost 1.41 per cent to Rs 488.60.
Mr Vineet Nayar has sold 27,00,000 equity shares of Rs 2 each (0.3896 per cent) held by him for Rs 133.58 crore. Post the transaction, his shareholding in the company has become nil.
Of the 27 lakh shares sold by Mr Nayar, 17 lakh shares were held in the name of two trusts, the software service major had said in a regulatory filing to the BSE on Friday.
Meanwhile, the BSE benchmark Sensex, was trading 132.01 points up at 16,850.88.