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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.”

The private lender has been in demand among investors so far in the new financial year. The stock has rallied about 33 per cent so far in the month of April.

As of 31-Dec-2021, promoters held 54.92 per cent stake in the company, while FIIs held 16.59 per cent and domestic institutional investors had 0.14 per cent.