HCL Technologies bought nearly 26 lakh shares in a block deal in the company on Friday. This has been bought by the company as a part of the ESOP trust. This is not the promoters acquiring stake in HCL Technology.

In the month of October, HCL Technology had announced a compensation package, which included ESOP’s which was to be given to 3000 of their top managers in order to retain them.

The IT industry is struggling with attrition, and therefore as part of that, increased ESOP’s, were going to be allocated to 3000 leaders, so perhaps the two are linked and which is why on Friday, the company has acquired shares for its ESOP trust in order to maintain the shareholding.

Watch the accompanying video of CNBC-TV18’s Reema Tendulkar for more details.