Shares of HCL Technologies Ltd were trading in the red and 1% lower on 28 June after 1.24 crore shares of the company changed hands on the exchanges via a bulk deal. 

Approximately 1.24 crore shares, representing 0.46% stake in the company changed hands at an average price of Rs 1,440.50 per shares, which is a 1.08% discount from the closing price of Rs 1,456.25 on 27 June, taking the total deal value to Rs 1,786 crore.  

However, the buyers and sellers involved in this block deal are yet to be identified. 

Earlier on 11 June, the company announced that they had signed a USD 278 million deal with Deutsche Apotheker- und Ärztebank eG (‘apoBank’), which is Germany’s largest cooperative bank for a duration of 7.5 years. 

Thomas Runge, COO and Member of the Executive Board at apoBank, added, “At apoBank, we welcome the expansion of our partnership with HCL Tech. In addition to world-class capabilities in IT infrastructure and Cloud managed services, HCL Tech has extensive Avaloq expertise and deep understanding of apoBank.”

The company will provide outcome-oriented managed services to the bank that are designed to be resilient, high-quality, scalable, and compliant. These services will enable apoBank to offer faster and more secure banking services to its customers. 

At 2:22 pm, the shares of HCL Technologies were trading 0.35% higher at Rs 1,460 on NSE.