GetPaidIndia.com

HCL to offer a counter bid for Axon acquisition; Realty more deeper in red

September 4th, 2008

Thursday, September 04, 2008 1:27:34 PM IST

HCL Technologies is buzzing after news came out that HCL is working with its advisors (ML) and Bankers (Stan Chart) for a possible counter bid to acquire Axon. Axon, readers may recall, was in news about 10 days back when Infosys announced it is in the process of acquiring the company. Meanwhile, readers may also recall HCL announced a few months back that it is waiting for a good target acqusition which means that HCL is well prepared to acquire a company.

The BSE IT space is managing to stay in the green. The BSE IT Sectoral index is at 4073.81 up 0.17%. 5 of the 11 stock index are currently trading in the green. HCL Technologies is at 251.55 levels up 0.78% on the BSE. Infosys is at 1785 levels marginally up 0.55%

Meanwhile the indices are back in the red. The NSE Nifty is down 1.37%. CNX IT and Bank Nifty are marginally in the red. BSE Sensex is down 196 points and is at 15049 levels.

BSE Realty index is now more deeper in the red. The index is down 3.17% at the moment. Needless to say Unitech does figure in the NSE Nifty losers charts. The script is trading at 164.55 levels and is down 2.95%

1 U.S. dollar = 43.9502 Indian Rupees
1 U.S. dollar = 107.9797 Japanese Yens
1 U.S. dollar = 0.6895 Euros
1 Ounce Gold = $811.00
1 Barrel Crude Oil = $109.62

Entry Filed under: Equity Markets, IT & ITes, Real Estate & Construction, BSE