HCL Technologies on Tuesday surged as much as 10 per cent on the bourses, a day after the UK-based SAP consultancy firm Axon accepted the £441-million ($810.8 million) acquisition bid.
On the National Stock Exchange, shares of HCL Technologies opened at Rs 153 and then gained further momentum to touch an intra-day high of Rs 164.80, a jump of over 10 per cent from its last closing. Similarly, on the Bombay Stock Exchange, the domestic software major opened at Rs 156 and rallied further to witness an intra-day high of Rs 158, up 5.83 per cent from the previous close. Shareholders of Axon on Monday accepted the 650 pence ($9.78) a sh are cash offer from HCL Technologies Ltd, setting the stage for one of the largest overseas acquisitions by an Indian IT company. Scrip of Axon closed at 645 pence, up nearly one per cent, on the London Stock Exchange. HCL has already picked up 10.43 per cent stake in Axon from the open market for £42.28 million. In the race for Axon, the country’s major software exporter HCL oust ed rival Infosys Technologies by making an offer that was at 8.3 per cent premium over Infosys’ 600 pence a share announced on August 25. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
