India’s fourth largest software services firm HCL Technologies today said it will buyback shares at Rs 1,000 apiece, a 17 per cent premium over current trading price. Money control had first reported HCL Tech buyback plans on February 22. The company is proposing an offer for buyback of equity shares for cash at a price of Rs 1,000 per equity shares on a proportionate basis through tender offer process, HCL Technologies said in a regulatory filing.
Benchmark indices extended their gains from the opening session, with the Nifty reclaiming 9400-mark, while the Sensex gained nearly half a percent. The Sensex gained 184 points at 30495, while the Nifty rose 61 points at 9424. The market breadth was healthy as 1,262 shares advanced against a decline of 678 shares, while 85 shares remained unchanged. The Mid-cap index, after seeing continuous corrective action is finally trading in the green on Thursday. Here is a look at its one-week performance chart
Intraday Tips By Expert
Buy Oil & Natural Gas Corporation Limited at above: 175.56 Targets: 175.60 – 174.75 – 173.54 – 175.10 Stop loss : 172.26
Important meeting of OPEC and non-OPEC countries on crude production will be today. Joint Monitoring Committee has proposed to increase production cut 9 months.
Buy Housing Development & Infrastructure at above: 87.89 Targets: 86.15 – 84.59 – 85.65 – 87.46 Stop loss : 85.56
Goldman Sachs has bought 28 lakh shares of HDIL at a price of 83.90 per share.
Credit Suisse sold 32.11 million shares and Bank of America Merrill Lynch sold 30.17 lakh shares of Syntex.
Fortis Health / Claris Life
FPI will not be able to invest anymore, the 24 per cent of the investment limit has been reached.
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