more-inShares of HCL Technologies were down over 1% in Friday's trading session, a day after it announced $330 miilion acquisition of Actian Corporation in joint venture with Sumeru Equity Partners. "The strategic rationale of this acquisition is not clear given the acquisition is of a pure product company in a space dominated by well-established global product companies such as Oracle, SAP, IBM, among others. Clearly, more details are required to fully appreciate the rationale of the acquisition," Kotak Institutional Equities said in a research note. Shares of HCL were trading down ₹12.85 a share at ₹998.60 on BSE.

Source: The Hindu April 13, 2018 08:03 UTC