Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

HCL Tech Rebounds On No Management Reshuffle

Shares of country's fourth largest software services provider by market cap HCL Technologies rebounded on Tuesday. In a clarification in response to rumours about management reshuffle, the company said Vineet Nayar would continue to act as vice chairman and CEO.

At 14:24 hours IST, the share was trading at Rs 475.45, up 1.26% after hitting an intraday high of Rs 476.75 and of Rs 462.25. .

Even its trading volumes increased 74% to 1,05,440 shares as compared to its 5-day average of 60,580 shares.

Market capitalisation of the company currently stands at Rs 32,954.03 crore.

Yesterday the share closed down 3.39% or Rs 16.50 at Rs 469.55.

HCL Tech