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Mukul Mahavir Agarwal sold 1.92 lakh equity shares of Jet Freight Logistics as he owned 4.74 lakh shares or 4.09 per cent stake in the company as of March 31, 2022, as against 6.66 lakh shares or 5.76 per cent in the December 2021 quarter.

Astha Jain, Senior Research Analyst at Hem Securities, said those who got allotment should book partial profit at current price and hold remaining with stop loss at Rs 75.

On the technical charts, the RSI of the stock stood at 58.02.

The stock quoted a 52-week high price of Rs 4577.45 and low of Rs 2444.0.

The stock traded at a P/E multiple of 17.75, while the price-to-book value ratio stood at 0.99.

The Nifty Bank index was trading 0.45 per cent down at 37464.25.

A total of 27,861 shares changed hands on the counter till 11:16AM (IST).

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 317444.54 Crore) operating in IT Software sector.

As of 31-Dec-2021, promoters held 44.79 per cent stake in the company, while FIIs held 26.08 per cent and domestic institutional investors had 0.8 per cent.

“This is a time where the Reserve Bank of India can let the rupee depreciate a bit and the pressures are there both in terms of the outflow of dollars out of the country as well as in terms of the oil price increase. So that is the primary instrument the Reserve Bank of India will need to use.”