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Tuesday, Aug 20, 2002

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Strategy shift helps HCL Tech

HCL Technologies witnessed some institutional interest on Monday. Dealers said the stock had generally benefited from the overall institutional interest in tech stocks over the past few days. According to analysts, the company's strategy of de-risking its business model by shifting focus from technology development to retail and engineering segments is expected to start showing results soon, putting it back on the growth track. The stock closed at Rs 194.85 on the BSE, up by 2.65 per cent and at Rs 195.05 on the NSE, gaining 3.12 per cent.

FI interest in Reliance

RELIANCE Industries Ltd (RIL) attracted institutional interest. According to dealers, a large domestic institutional player bought into the counter considerably on Monday. The stock gained four per cent in the past one week, along with spurt in volumes.

The stock has gone up one per cent to close at Rs 245.25 with 9.83 lakh shares being traded on the BSE. On the NSE, Reliance went up by 1.21 per cent to close at Rs 245.25 with 20.54 lakh shares being traded.

Aparna Krishnan
Neha Kapoor

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