Patni Computer a top draw on overseas contract

DALAL STREET SPIKES

Patni Computer leapt 7.51 per cent to Rs 458.25 as compared with its previous close of Rs 426.25. The stock surged sharply after the company won an overseas order.

Last week the company had announced that it had received an application development outsourcing contract from ABN AMRO.

Patni's shareholders had approved a proposal for a sponsored ADR offering whose proceeds would be used in the development of infrastructure facilities. The company focuses on domains such as financial services, insurance and manufacturing.

Sales were up 9 per cent to Rs 473.02 crore but net profit fell 8 per cent to Rs 62.86 crore for the quarter ended June 2005.