The stock surged further to a high of Rs 374. But it pared some of its early gains and ended at Rs 368 - up 3.6 %.. Over 3.2 lakh shares were traded on the BSE today, as against a two-week daily average trade of 1.4 lakh shares.
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(Updated at 1033 hrs)
HCL Tech has zoomed on news of the amalgamation of HCL Technoparks, its wholly owned subsidiary, with itself. The shares are trading at Rs 365, stronger by Rs 10 or 3%, on the BSE. The stock opened at Rs 360 and has touched a high of Rs 366 and a low of Rs 360 thus far.
The board of directors has approved the scheme of amalgamation under Section 391 to 394 of the Companies Act, 1956, HCL Tech said in a filing to the NSE.
But the approval is subject to sanction by the shareholders, creditors, regulatory authorities and High Court of Delhi, the company further added.