New Delhi: Shares of HCL Infosystem Ltd, an information technology hardware firm and a listed subsidiary of HCL Enterprise, surged as much as 13.2% on Tuesday morning.

The rise follows reports last month that the company’s billionaire founder Shiv Nadar may sell his $10 billion stake in the company, which HCL has denied.

At 11.37am, HCL Infosystems was trading at 37.30 on BSE, up 9.4%, while India’s benchmark Sensex fell 0.14% to 21,904.27 points. The shares of the company have risen by 29.17% since 7 March.

The shares finally ended at 35.15 gaining 3.08% on Tuesday, while the Sensex lost 0.49% to end at 21,826.42.

Since the begining of the year, HCL Infosystems shares have jumped 74.76%, while the Sensex rose 3.85% during that period.

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