new Delhi. HCL Technologies, one of the country’s largest IT companies, and its shareholders have suffered a major setback. The company’s stock fell more than 4 percent in just 30 minutes of business. Due to which the company lost Rs 12,500 crore. On the other hand, ordinary investors who have invested money in the shares of the company are getting a loss of Rs 38 per share. The special thing is that this decline has come after the HCL Q2 Results 2020. Let us tell you that after Thursday’s big fall, there is a recovery in the stock market today.
HCL shares fall
Today, shares of HCL Technology, one of the big IT companies of the country, are witnessing a tremendous decline. The company’s stock was trading at Rs 821.55, down 4.41 per cent at 9.45 am. Whereas the company’s stock opened at Rs 865 with a slight gain today. Since then, the company’s shares have been steadily declining. Let us tell you that the company’s shares closed at Rs 859.45 yesterday.
Big drop in the company’s market cap
On the other hand, there has been a big drop in the company’s market cap. When the market opened, the company’s share price was Rs 865, according to which the market cap of the company was Rs 2,35,711.56 crore. At the same time, the shares of the company fell by 4.41 percent at 9.45 minutes and the market cap of the company was reduced to Rs 2,23,226.09 crore. That is, the company incurred a loss of Rs 12,500 crore in just half an hour.
The company incurred a loss of Rs 414 crore every minute
Before the quarterly results of the company, the company suffered a major loss in the stock market. If the market is calculated half an hour after opening, then a loss of Rs 12,500 crore is being made. That is, during this time the company has incurred a loss of Rs 414 crore every minute. That is, there has been a big drop in the company’s market cap.
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Loss of millions to common investors
If we talk about common investors, the shareholders of HCL have not lost any less. If the half-hour business was taken as the basis, then the shareholders had lost Rs 38. That is, the investors holding one lakh shares have lost Rs 38 lakh. While the loss of 3.8 million rupees holding 10,000 shares has suffered. At the same time, there was a loss of 38 thousand rupees holding one thousand shares.
HCL quarterly results released
HCL Tech has released its second quarter results. HCL Tech saw a profit of Rs 3,142 crore in the second quarter. While the company’s profit was being estimated at Rs 3046 crore. Whereas in the quarterly results, the company has seen better than expected profit in the second quarter.
Market recovery
On the other hand, there is a recovery in the stock market today. The Bombay Stock Exchange’s leading index appeared to be trading at 40091.37 points with a gain of 362.96 points. However, Nifty 50, the major index of the National Stock Exchange, appears to be trading at 11776.90 points with a gain of 96.55 points. According to experts, the Indian stock market is seeing a boom due to recovery in global markets.
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