HCL Technologies hits 5-month low

software services exporter HCL Technologies Ltd fell as much as 7.7 per cent to Rs 934.45, their biggest single-day percentage loss since May 3.

The company said in a statement on Friday that it will acquire select IBM software products for $1.8 billion (over Rs 12,700 crore) in an all-cash deal. The transaction, subject to “completion of applicable regulatory reviews”, is slated to close by mid-2019.

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