CFO of a leading indian IT company resigns?

Shares of HCL Technologies, one of the top IT companies in India, are in turmoil today. Ever since the news of the resignation of the company's CEO Prateek Agarwal came, the shares have been fluctuating. However, HCL Tech has also announced the name of Shiv Walia as the new CFO on monday night, who will take over as the company's CFO from september 6. In HCL's sunday meeting, the Audit Committee and Remuneration Committee jointly approved the recommendation of Shiv Walia's name.

Know about HCL Tech's new CFO Shiv Walia

Shiv Walia, who has been working in HCL Tech for more than three decades, will now take over as CFO. The company's board took this decision in the Board of Directors meeting on Sunday. Currently, Shiv Walia is the corporate Vice President of HCL Tech and the Global Head of Financial Planning-Analysis and business Finance. He has been associated with HCL since 1993 and after spending more than 30 years in the company, he is now coming to one of the top management positions.

This is how HCL Tech shares performed

Today, HCL Tech's stock opened at Rs 1680 and went up to Rs 1686.50 during day trading while it showed a low of Rs 1669.20. After the opening of the business in the morning, the shares fell due to this news and at present the stock is at Rs 1677.85 per share and is almost flat. The all-time high level of the company's stock is Rs 1697.35 and this year HCL Tech has given a return of 42.34 percent. It has given a return of 14.49 percent in the last 12 months.

Shiv Walia has decades of experience in HCL

Shiv Walia has given the benefit of his experience in many markets of HCL Tech including India, Singapore, australia and United Kingdom (UK). The demand for HCL Tech's semiconductor services has increased globally and the company is working with the intention of expanding its services in the semiconductor sector in the coming 3-4 years. HCL Tech of HCL Group is among the few companies that have applied under the Scheme for Compound Semiconductors to set up an electronic chip plant. The company is expecting growth in areas like cloud services, data, GenAI and cyber security in the coming days. Shiv Walia is well aware that keeping the company on the path of growth during the current challenges for the IT sector can be challenging. The market cap of HCL Technologies is currently Rs 4.54 lakh crore and it is ranked third among the top indian IT companies.