Patni Computers zooms 8 % on stake sale buzz

Patni Computers zooms 8 % on stake sale buzz


Mumbai: Patni Computers jumped by nearly 8 % in the first half of trade on the Bombay Stock Exchange or BSE on Tuesday amid media reports that the company’s promoters have reached a consensus on a stake sale to Japanese IT major Fujitsu.

Buoyed by the report, shares of Patni Computers gained a whopping 7.99 % to Rs464 in morning trade on the BSE.

The counter performed even better on the National Stock Exchange or NSE surging by 9.56 % to 472.30 in the first half of trade. On the volume front, over nine lakh shares of the company were traded on the bourses.

Meanwhile, the broader gauge Sensex was trading at 20,522.55, up by 46.82 points.

According to media reports, promoters of Patni Computers, who are in stake sale talks with Fujitsu, are likely to retain around a 5 % stake in Patni after the sale. The promoters of Patni presently own a 46 % stake in the compan.