HCL Infosystems has rallied 15% to Rs 41.60 on reports that Lenovo, the world’s second largest PC maker, is in talks to buy out the promoter stake in the company for around Rs 500 crore.
“As of June end, the Ajai Chowdhry-led company has promoter shareholding of 50.77%. HCL Corporation is the single largest promoter with 42.85% stake,” the report suggests.
On Monday, the stock of computer hardware firm hit 52-week low of Rs 36 on reporting disappointing earnings for the quarter ended June 30, 2012.
The stock opened at Rs 37 and hit a high of Rs 41.95 on the NSE. A combined1.31 million shares have changed hands on the counter in opening deals.
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