Infosys scrip surges 2 pc on BSE over takeover news
The Infosys scrip has surged after claims by media reports that the software behemoth is planning to bid for European consultancy firm Capgemini.business Updated: Jun 29, 2007 12:13 IST
Shares of country's leading software exporter Infosys surged as much as 2.54 per cent on the Bombay Stock Exchange after media reports that the software behemoth is planning to bid for European consultancy firm Capgemini.
Infosys scrip opened firm at Rs 1,951 and rallied ahead to touch a high of Rs 1,975 in early trading on the BSE, gaining as much as Rs 49.10 over its previous close.
However, the srip of the company parted with some gains and was later trading at Rs 1952.30 at 10.34 am on BSE and over 68,000 shares got exchanged in early trade.
On Thursday the French firm Capgemini's scrip surged more than four per cent on the Paris bourse over reports that Infosys Technologies is planning to acquire a stake in the company to expand its global presence.
India is the second largest country for Capgemini in terms of employees and employs more than 14,000 at its offices in six cities. It had also acquired India's Kanbay for 1.25 billion dollars in February this year.
Infosys has a market value of nearly $27 billion, while Capgemini has a market capitalisation of about $10 billion(€7.7 billion).