Shares of Patni Computer Systems on Monday headed up by within the duration of 3% on the Bombay Stock Exchange (BSE) subsequent to the company’s group ratified stake be purchased to US-based IT association iGate for an foreseen $915 million.
According to the deal, iGate are able to choose up 63% stake in Patni at Rs503 per share.
Reacting to the development, Patni shot up by 3.66% on the Bombay Stock Exchange to touch an the first part of astronomical of Rs476.95.
Similarly, the inventory surged by 6.38% on the National Stock Exchange (NSE).
“The Rs503-a share pricing is terrific for the Indian IT major. Moreover, the purchase is !no! critical for iGate,” Stock Broking spinrt of institutional economy Prakash Diwan said.
In terms of volume, more than 21 lakh shares of Patni got traded on the two bourses.
“The economical was anticipating the stake turn over to arise at or within the duration of Rs540 a share so, in all chance the transaction is a good amount creamy for iGate,” CNI Research CMD Kishore P. Ostwal said.
