Billionaire Shiv Nadar owns roughly 62 per cent stake in HCL Technologies, India's No. 4 IT services exporter, through group companies. He is yet to hire bankers to advise him on a sale, a HCL Wall Street Journal report said, citing two people briefed on the matter.
"HCL Corporation denies any plans to exit HCL Technologies," the company said in a statement on Friday.
Shares of HCL Technologies, valued at $16.6 billion, rose as much as 2.4 in afternoon trade on the National Stock Exchange.