Patni surges 6% on report of stake sale

Patni Computer Systems settled nearly 6 per cent higher on the Bombay Stock Exchange (BSE) today, amid media buzz that the company’s promoters have arrived at a consensus on a stake sale to Japan-based Fujitsu.

Shares of Patni closed 5.82 per cent higher at Rs 454.65 on BSE today. During the day, the scrip had jumped by an impressive 7.99 per cent to touch an intra-day high of Rs 464.The company’s winning streak on the National Stock Exchange continued as well, gaining 5.25 per cent to Rs 453.70.      

According to media reports, the promoters of Patni Computer, who are in stake sale talks with IT firm Fujitsu, are likely to retain about a 5 per cent stake in Patni after the sale. At present, the promoters of Patni own a 46 per cent stake in the company. In terms of volume, over 1.3 million shares of the IT firm were traded on the two bourses.

 Meanwhile, IT bellwether Infosys Technologies closed up 0.24 per cent, while Wipro was down 0.84 per cent, Satyam  shed 1.97 per cent, TCS lost 0.64 per cent and HCL Technologies fell by 0.22 per cent.